GK
BANKING AWARENESS AND SEBI
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Call Verification Value
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Card Verification Value
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Credit Verification Value
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None of these
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Detailed explanation-1: -A CVV number is the acronym for Card Verification Value. It is required to complete transactions using cards, but along with that, it also provides added security against scams. What is CVV number used for?
Detailed explanation-2: -The CVV2 (Card Verification Value 2) is a 3-digit security code that is printed on the back of your card, at the end of the signature panel. CVV2 is generally used for transactions when the card is not physically presented, such as in online purchases.
Detailed explanation-3: -The VISA CVV service verify callable service calculates the CVV by the same method. The service compares the CVV it calculates to the CVV supplied by the application (which reads the credit card’s magnetic stripe). The service then issues a return code that indicates whether the card is authentic.