CVV number - What is it & How it works?
Payment Card Industry Data Security the data cannot be breached as the merchants cannot save the CVV number.
CVV number – Card Verification Value also known as CSC number – Card Security Code refers to the 3-digit code on magnetic strip, behind your card that acts as an additional security layer protecting data during online transactions or swipes or POS. Every time you use your card the data on the magnetic strip is used to verify the identity of the holder and the CVV confirms the same making transaction secure. During an online transaction the CVV number proves that you have the physical possession of the card, this helps reduce fraud.
According to Payment Card Industry Data Security the data cannot be breached as the merchants cannot save the CVV number. This is why you will notice that even if your card number and other details are saved on seller’s websites you are still required to mention the CVV code for every new transaction and the CVV field is empty even on frequently used websites & apps.
However even though the CVV on card is a safety feature, your card is not entirely safe from cybercrimes. A fraudster or hacker can easily use your card details to carry out unauthorized transactions on sites that do not require the CVV.