CVV
Business & Finance abbreviation · Banking
| Stands for | Card verification value |
|---|---|
| Categories | Business & Finance |
CVV stands for Card verification value, a banking abbreviation.
Three- or four-digit security code printed on a payment card, on the back of Visa and Mastercard cards and on the front of American Express cards, used to show that the buyer has the physical card in online and phone purchases. The printed code is not stored on the magnetic stripe.
Example: The checkout page asks for the card number, expiry date and the three-digit CVV.
Usage notes
Card networks use different names: CVV2 (Visa), CVC2 (Mastercard) and CID (American Express). PCI DSS rules prohibit merchants from storing the code after a transaction is authorized. Some banks issue cards with dynamic CVVs that change periodically to reduce online fraud.
Related abbreviations
More banking abbreviations
- Chq – Cheque
- CIP – Customer identification program
- CRA – Community Reinvestment Act
- CRR – Cash reserve ratio
- CTR – Currency transaction report
- CU – Credit union
- DD – Demand draft
- DDA – Demand deposit account
- EDD – Enhanced due diligence
- EFT – Electronic funds transfer
- EMV – Europay, Mastercard and Visa
- FD – Fixed deposit