Every user who has a bank account knows about CVV. But for those who don’t know, CVV (Card Verification Value) is a code of 3 digits that companies allocate to every user to verify every transaction made by the user is authentic and made by the same person to whom the card is allotted. The CVV is given on the backside of the card you carry and is mostly used while making an online transaction or shopping from any e-commerce website.
What is a CVV store?
It is an online platform where people sell cards information to a third party through any source. Through hacking, by foul means, extracting information through any company’s database, etc. Sometimes, there is an application, “Skimmers,” which they install into your electronic devices to track the record of all the credentials you put into the system.
It is advised that you do not share your CVV with another person, no matter whatever situation you are in.
Any CVV Store generates them using four important information of the user:
- PAN Number (Primary Account Number)
- The expiration date of 4 digit number for authentication.
- Pair of DES (Data Encryption Standard)
- 3-Digit Service Code
There are two types of CVV, static and dynamic. Static CVV is the one that is printed on the backside of your card on a black strip, whereas dynamic CVV is the one that expires as soon as you leave the page. Dynamic CVV is used for online shopping, mostly where you receive an OTP for two-factor authentication. Dynamic CVV is hard to hack and told to be a better-secured server that you can trust.
The whole purpose of CVV is to prevent any frauds made by the criminals and not making any transaction through the card against your will or consent. As cyber-crime is increasing day by day, you will have to be more careful before making any sudden decision and become the victim of fraud. No banking organization asks for a CVV in any case. And CVV Store is looking for far better ways to safeguard the personal information of their user.