Like a card number, a card security code (CSC) is an essential feature to guard online transactions. Moreover, it helps to boost purchasing by increasing the safety and confidence of consumers. As for the merchants, CSC is a useful option to prevent fraud and chargebacks. We’ve conducted a guideline where you can find all the information about different card security codes and why it’s never useless to ask your customers for it.
CSC is an embossed or printed 3-digit or 4-digit code that serves to verify online transactions. It helps to identify cardholders even if the purchase is made not in person. CSC shouldn’t be confused with Card Validation Value which is a piece of data written to a magnetic stripe for use in the cryptography of a card. Types of card security codes can vary depending on the credit card network: for example, the definition of Visa’s CSC differs from Mastercard security number or the one in American express. There are the names of CSCs by the popular networks: CVV2 (Card Verification Value 2) stands for Visa; CVC2 (Card Validation Code 2) is a definition for Mastercard. American Express cards have a CID (Card Identification Number).
As for the online merchant, the card security code on the signature strip can support you to identify whether the card is really in the possession of its owner. Therefore, it increases the customer’s sense of security while making purchases on your website.
We recommend you to ask for a security code of debit or credit card every time a customer makes an online payment. Thus you will assure that the cardholder is real and it’s not a scam. Together with other verification methods, the online payment card security code adds an effective level of defense.
Customers can be sure that their data will not be used since the standard doesn’t allow the storage of the CSCs.
The code is an extra security measure to make sure you have access to or physically own the card. Below, there are some aspects of how CSC can be useful for your e-commerce business’ safety.
Security code refers to confidential information that only the cardholder should know. Appropriate use of card security codes will help to reduce the number of online crimes. However, sellers shouldn’t consider this decision as the only method of defense, as it’s just one of many options to deal with scams in e-business.