If you use an ATM card or a credit card, then you must be aware of the three digit number written on the back of the card, as it is the most important thing in every online transaction.
You must also be using a debit card or credit card. In this you must have seen that 16 digit numbers are written on the front side of the ATM card. Name and expiry date are also written in many cards. But, a three digit number is written on the back of the card. Many people do not pay attention to this three digit number, but it is very useful and has to be taken care of.
Even IBI says that as soon as you get the card, after that this number should be erased and you should remember your number. In such a situation, know what is special in this number and why it is asked to erase this number. Also know many more special things related to this number…
Is this code necessary?
It is written on the back of the card and is of three digits. Its full name is Card Verification Value. This is a kind of code, it is very important from the point of view of security. It has a lot of importance in most of the transactions and without it the transaction cannot be completed. If someone does not know this code of yours, then he will not be able to make online payment through that card. When you save your card details on that website in case of repeated payments from any website, it is still required while doing the transaction. It cannot be saved and has to be reported on every transaction.
It is advised by RBI that as soon as debit card or credit card is received, first of all the CVV number should be erased and it should be remembered. It is believed that by doing this the possibility of fraud is greatly reduced and even if the photo of the card is with anyone, it cannot be transacted through any online medium.
Prevents Fraud?
CVV code is used for security purposes only. It is a security layer like OTP, because if someone does not have CVV then he is not able to do the transaction. In fact, while making a digital transaction, the CVV verifies that the cardholder is responsible for this payment. Let us tell you that this number was started in the year 1995 and earlier it used to have 11 digit CV, when it is now 3 digit.
There is also a question that why is the CVV number written on the back of the card? Actually, this is also a security layer like OTP. That is, it is necessary to keep it confidential. The front is visible when you are using the card in a public place. The CVV number is written on the back so that no one can see it once. Due to the CVV code being in the back of the card, people are saved from being a victim of fraud.
