Content deleted Content added
m Tag correct text as {{proper name}} for automated spell checkers (including Wikipedia:Typo Team/moss) |
m Cleaned up using AutoEd |
||
Line 7:
A '''card security code''' ('''CSC'''; also known as '''CVC''', '''CVV''', or [[#Naming|several other names]]) is a series of numbers that, in addition to the [[bank card number]], is printed (not embossed) on a card. The CSC is used as a security feature for [[card not present transaction]]s, where a [[personal identification number]] (PIN) cannot be manually entered by the cardholder (as they would during [[payment terminal|point-of-sale]] or card present transactions). It was instituted to reduce the incidence of [[credit card fraud]].
These codes are in slightly different places for different card issuers. The CSC for [[Visa Inc.|Visa]], [[Mastercard]], and [[Discover Card|Discover]] credit cards is a three-digit number on the back of the card, to the right of the signature box. The CSC for [[American Express]] is a four-digit code on the front of the card above the account number. See the figures to the right for examples.
CSC was originally developed in the UK as an eleven-character alphanumeric code by [[Equifax]] employee Michael Stone in 1995. After testing with the [[Littlewoods]] Home Shopping group and [[NatWest]] bank, the concept was adopted by the UK [[Association for Payment Clearing Services]] (APACS) and streamlined to the three-digit code known today. [[Mastercard]] started issuing CVC2 numbers in 1997 and [[Visa Inc.|Visa]] in the United States issued them by 2001. [[American Express]] started to use the CSC in 1999, in response to growing [[e-commerce|Internet transactions]] and card member complaints of spending interruptions when the security of a card has been brought into question.
Line 16:
The codes have different names:
* "CSC" or "card security code": [[debit card]]s,{{which|date=November 2015}} American Express (three digits on back of card, also referred to as 3CSC)<ref>{{cite web|title=SafeKey Frequently Asked Questions {{!}} American Express Canada|url=https://www.americanexpress.com/ca/en/security/safekey/faqs/|access-date=2021-05-04|website=www.americanexpress.com}}</ref>
* "CVC" or "card validation code": [[Mastercard]]
Line 30 ⟶ 29:
There are several types of security codes and PVV (all generated from DES key in the bank in HSM modules using [[Payment card number|PAN]], expiration date and service code):
* The first code, 3 numbers, called CVC1 or CVV1, is encoded on track one and two of the [[Magnetic stripe card|magnetic stripe]] of the card and used for card present transactions, with signature (second track also contains pin verification value, PVV, but now it is usually all zeroed out and service code). The purpose of the code is to verify that a payment card is actually in the hand of the merchant (thus it should be different from CVV2). This code is automatically retrieved when the magnetic stripe of a card is read (swiped) on a [[point-of-sale]] (card present) device and is verified by the issuer. A limitation is that if the entire card has been duplicated and the magnetic stripe copied, then the code is still valid, even though you usually need to sign after that. (See [[Credit card skimming|credit card fraud § skimming]].)
* The second code, and the most cited, is CVV2 or CVC2. This code is often used by merchants for [[card not present transaction]]s including online purchases. In some countries in Western Europe, card issuers require a merchant to obtain the code when the cardholder is not present in person. Uses service code 000.
Line 39 ⟶ 37:
The card security code is typically the last three or four digits printed, not embossed like the card number, on the signature strip on the back of the card. On American Express cards, however, the card security code is the four digits printed (not embossed) on the front towards the right. The card security code is not encoded on the magnetic stripe but is printed flat.
* American Express cards have a four-digit code printed on the front side of the card above the number.
* [[Diners Club]], Discover, [[Japan Credit Bureau|JCB]], Mastercard, and Visa credit and debit cards have a three-digit card security code. The code is the final group of numbers printed on the back signature panel of the card.
Line 59 ⟶ 56:
Limitations include:
* The use of the CSC cannot protect against [[phishing]] scams, where the cardholder is tricked into entering the CSC among other card details via a fraudulent website. The growth in phishing has reduced the real-world effectiveness of the CSC as an anti-fraud device. There is now also a scam where a phisher has already obtained the card account number (perhaps by hacking a merchant database or from a poorly designed receipt) and gives this information ''to'' the victims (lulling them into a false sense of security) before asking for the CSC (which is all that the phisher needs and the purpose of the scam in the first place).<ref name="snopes">{{cite web|url=http://www.snopes.com/crime/warnings/creditcard.asp |title=Urban Legends Reference Pages: Visa Fraud Investigation Scam |date=23 December 2003 |publisher=Snopes.com |access-date=2011-12-25}}</ref>
* Since the CSC may not be stored by the merchant for any length of time<ref name="visa"/> (after the original transaction in which the CSC was quoted and then authorized), a merchant who needs to regularly bill a card for a regular subscription would not be able to provide the code after the initial transaction. Payment gateways, however, have responded by adding "periodic bill" features as part of the authorization process.
Line 67 ⟶ 63:
== See also ==
* [[3-D Secure]]
* [[Credit card fraud]]
Line 74 ⟶ 69:
== References ==
{{
{{Credit cards}}
| |||