CVV Full Form, Importance & Tips to Protect it

CVV refers to the 3 digits printed on the back of your debit card and is issued by the bank that provided the card. It is required for online transactions and provides an added layer of security. However, frauds related to CVV are pretty common. Therefore, it is crucial not to disclose your CVV unless you are completing a legitimate and secure transaction that you initiated. 

Never share it with unsolicited callers or individuals claiming to be from your bank. In this blog post, we shall discuss what CVV is, its importance and tips to protect your CVV.

What is CVV Full Form?

CVV full form is Card Verification Value, which is a 3-digit code present at the back of every credit card and debit card, near the signature. However, in the case of Amex debit/credit cards, the CVV contains 4 digits typically printed on the front of the card above the card number. The CVV code is often required for making card-not-present payments, i.e., payments made without physically swiping/inserting your card into a terminal. This code confirms that the individual making the payment has the physical card in hand and adds a vital layer of security to prevent fraud. To prevent unauthorized use, the CVV must be kept a secret. 

The frauds surrounding CVV are quite often. Therefore, this code must not ever be shared with unsolicited callers or individuals pretending to be from your bank. It is important to note that the Reserve Bank of India (RBI) has mandated all the Indian banks to use specific number series for making official calls to their customers, helping them identify legitimate calls and avoid fraud. 

For transactional/service calls, banks use “1600xx”. For marketing, the banks use “140xx”. So, if you get a call from a number beginning with “+91-1600”, there’s a high chance it’s your bank calling you for an important update. However, if an individual calls you from a phone number not containing the said number series, then there’s a high chance they’re trying to scam you. 

Also, remember that, scammers are usually quite adept at spoofing phone numbers. This means they can make it appear as though they are calling from any number, including one that’s seemingly legitimate. If you ever become a victim of CVV fraud, you must contact your bank immediately.

Importance of CVV

The importance of CVV can be understood with the help of the following points :-

• First, the CVV verifies that the person making the payment actually possesses the physical card. As a result, this code helps to confirm the card’s authenticity.
• This code plays a key role in preventing fraud especially in online transactions.
• It adds an extra layer of security. Because of this, customers feel more confident and secure when completing payments.
• Even if someone obtains just the card number, they cannot easily misuse it without the CVV. The lack of this code makes completion of unauthorized transactions more difficult.
• As far as businesses are concerned, the CVV serves as additional verification information and helps them validate transactions more accurately before approving them.

Tips to Protect Your CVV

Here are some tips to help you protect your CVV :-

• Do not enter your CVV on websites that seem suspicious or unofficial. Only enter it on official websites of your bank or a legitimate trusted merchant you are making a purchase from. 
• Download an antivirus software on your device. Keep the software updated.
• As a rule, never share your CVV or any other confidential information related to your credit/debit card over phone, email or SMS as banks will never ask you to share such details through these means.
• Avoid using public Wi-Fi for making online transactions.
• Keep a check on your bank statements regularly. If you suspect an unauthorized activity, you should contact your bank immediately.

Conclusion

CVV full form is Card Verification Value. It is also known as Card Security Code (CSC), Card Verification Code (CVC) and Card Identification Number (CIN). Every debit card and credit card contains this code. It is essential for making card-not-present payments such as mobile app payments and recurring OTT subscriptions, and ensuring they take place in a safe and secure manner. Visa, Mastercard and RuPay cards have a 3-digit CVV, while Amex cards have a 4-digit CVV. Never share your CVV on call, email or SMS to ensure online safety and prevent becoming a victim of a scam. 

Also Read: How to Add Rupay Credit Card to UPI Apps

Frequently Asked Questions (FAQs)

Q1. What is CVV full form in banking?

CVV full form in banking is Card Verification Value. It is a code that is printed on every debit card and credit card.

Q2. What is CVV full form in debit card?
A. CVV full form in debit card is Card Verification Value.

Q3. Who issues CVV in India?

The card issuer provides the CVV in India. For example, if HDFC Bank issues the debit card, then it is also responsible for generating and issuing the CVV.

Q4. How to check CVV?

To check CVV on a Visa/Mastercard/RuPay card, check the 3 digits at the back of your debit/credit card, near the signature. In the case of Amex card, check the 4 digits on the front of the card above the card number. 

Q5. How many digits does a CVV contain?

CVV generally contains 3 digits. However, the Amex cards have CVV containing 4 digits.

Disclaimer :- We have tried our best to provide our readers with the most accurate and up-to-date information in this blog post but we cannot promise it’s 100% error-free. Please double check all the details independently from verified, official sources before making any financial decisions.