What is AVS, CV2 (or CVV2), Chip and Pin, 3D Secure, Verified by Visa, and Mastercard SecureCode?
All of these are processes introduced by the banking industry to help combat fraud.
* AVS stands for address verification system and allows a merchant to check that the address that the buyer has provided matches the address held by the card issuer for that payment card.
* CV2 is usually the “last three digit on the strip on the back of your card” which is normally asked for online and when you order over the phone.
* Chip and Pin is the standard used in shops and restaurants where a pin number is entered by the buyer in place of a signature.
* 3D Secure, Verified by Visa and MasterCard Secure are different names for the same thing. 3D Secure is the generic term and the other two being the terms for this used by Visa and Mastercard. In essence, this is Chip and Pin for web buyers, where the buyer is asked to validate their identity by entering a password. There are special precautions to stop this data being hacked and the card industry assumes a bigger chunk of the risk when 3D Secure is used.
These checks provide extra information on the payment and allows a judgement to be made on the likelihood of fraud.
All of these are processes introduced by the banking industry to help combat fraud.
* AVS stands for address verification system and allows a merchant to check that the address that the buyer has provided matches the address held by the card issuer for that payment card.
* CV2 is usually the “last three digit on the strip on the back of your card” which is normally asked for online and when you order over the phone.
* Chip and Pin is the standard used in shops and restaurants where a pin number is entered by the buyer in place of a signature.
* 3D Secure, Verified by Visa and MasterCard Secure are different names for the same thing. 3D Secure is the generic term and the other two being the terms for this used by Visa and Mastercard. In essence, this is Chip and Pin for web buyers, where the buyer is asked to validate their identity by entering a password. There are special precautions to stop this data being hacked and the card industry assumes a bigger chunk of the risk when 3D Secure is used.
These checks provide extra information on the payment and allows a judgement to be made on the likelihood of fraud.