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Use of the security number on the card reverse? |
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Date:
February 8, 2007, 3:50 pm |
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Use of the security number on the card reverse? |
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Answer:
Security numbers, unlike credit cards numbers, are widely exposed through public documents. It is a security feature for credit card transactions, giving protection against credit card fraud. Security numbers are hihly confidential and legally protected. Credit Companies have implemented a system of security numbers to ensure the credit card used in a transaction is actually possessed by the cardholder. There are actually 2 security codes: CVC1,CVV1,used for transactions in person, and CVC2, CVV2, which are often asked for by merchants to secure transactions occuring over the Internet by mail, fax or over the phone. |
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