Identity theft, data theft and even card cloning have been
some of the main current problems faced by financial institutions and debit and
credit card users. Due to this, the security protocols of these plastics are
updated, improved and find new ways to increase their protection at the time of
a purchase. technologywebdesign
This is the case of the famous CVV, which for many became
known until Internet shopping became popular, but in reality it has existed for
several years as one of the most traditional security systems and which, even
today, continues to be updated to deal more effectively with attacks on card
users.
A little history of the CVV
CVV means Card Verification Value , which could be
translated into Spanish as: Card Verification Value , this "Value"
being referred to, always numeric. Over the years it has been known in
different ways: CVD, CCV, CVN, CSC, CID or CVVC, but the most common and common
to find is CVV.
According to Daniel Oduro's “Mine of Value” book, he tells
us that the CVV was created by Michael Stone in 1997 and that it was a useful
method in terms of fraud prevention without a card present at the time of
purchase. It must be remembered that online transactions this year were still
relatively recent and that people used to buy by phone or physically going to
stores.
The reason why CVV is known by so many different acronyms is
because, when this prevention system became popular, each issuer appropriated a
different one, for example:
Visa used the CVV ( Card Verification Code )
Mastercard CVC ( Card Validation Code )
American Express CSC ( Card Security Code ), then changed
the code on the front of their cards, changing the name to CID ( Card
Identification )
Although there is still no standardization of the name, what
is common is that all cards have this code, which generally consists of 3 or 4
numbers and which serves as a security protocol to obtain a confirmation from
the client before performing a transaction; But, with the passage of time and
the marked division between physical and digital purchases, it was subdivided
into two different types of code, type 1 and type 2.
What are the differences between CVV
type 1 and CVV type 2?
There are many ways that debit or credit card users have to
avoid fraud , but the way that card issuers implement actions to avoid them is
through the CVV that forces the user who tries to buy to have the card
physically in front of him to be able to provide this code and authorize the
transaction, but what happens when the purchase is in a physical store? Well
for that the CVVs were divided into type 1 and type 2.
The CVV type 1 is a code that is encrypted on the second
track of the charming stripe of a debit or credit card, it usually has more
than the 4 visible numbers that the cards have, and it serves to authenticate
the purchases that are made physically in an establishment.
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