CVC stands for “Card Verification Code” or “Card Verification Value”. It is a security feature that is typically found on the back of credit and debit cards. The CVC is a 3 or 4 digit code that is used to verify that the person making a transaction has the physical card in their possession.
The CVC is a key component of the card-not-present (CNP) transactions, where the card is not physically present, such as online or phone purchases. It helps to protect against fraudulent transactions by providing an additional layer of security beyond just the card number.
When a customer makes a purchase online or over the phone, they are typically prompted to enter the CVC along with the card number and expiration date. The CVC is then sent along with the other card information to the card issuer for verification. If the CVC matches the one on file, the transaction is approved. If the CVC does not match, the transaction is typically declined.
The CVC is not the same as the CVV (Card Verification Value) or CVV2 (Card Verification Value 2) which are also used in card-not-present transactions, but it is a different code and it is located in a different spot on the card.
In summary, CVC stands for Card Verification Code or Card Verification Value, is a security feature that is typically found on the back of credit and debit cards. It is a 3 or 4 digit code which is used to verify that the person making a transaction has the physical card in their possession, and it helps to protect against fraudulent transactions by providing an additional layer of security beyond just the card number. It is used in card-not-present transactions, such as online or phone purchases. It is different from CVV or CVV2 and it is located in a different spot on the card.