Why does CVV2 assist in fraud prevention?
Another valuable and seamless credit card fraud prevention measure is the CVV2 numbering system. This system (under different names) is offered by almost all credit card associations and issuers. Some of us may not recognize the name – CVV2 – but will recognize the feature as the additional three digit number printed in the signature area on the back of your credit or debit card. This number is an added level of Internet fraud prevention for merchants accepting the card and is intended to ensure that the card is actually in the purchaser’s possession when making online or phone purchases. The system is one of many techniques offered to combat fraud and credit card misuse. The number is transmitted along with the card and transaction information and can be quickly verified as valid by the processor. For more information on this and other security issues, contact your First Data Independent Sales representative.
