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Merchant Account Glossary: CVC2 & CVV2

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VISA and MasterCard implemented a security feature known as “CVV2” and “CVC2”. It is advised that all merchant accounts utilize this fraud prevention tool. These are the three-digit numbers printed on the back side, far right of the credit card. The three-digit code helps validate that the cardholder has the card in his/her possession and the account is legitimate. You can include the code in your transaction and expect to receive a “match” or “no match” response. If you are using a shopping cart, make sure it is capable of collecting these numbers, but you are not allowed to store them per V/MC regulations. Keep in mind this is not fool proof.

American Express customers will have a four-digit code on the front, far right side of the card. Discover Card is the same as Visa & MC.

Other Glossary Terms:
  1. ABA Routing Number
  2. ACH (Automated Clearing House)
  3. Acquiring Bank
  4. Address Verification Service (AVS)
  5. Authorization
  6. Approval or Authorization Code
  7. Authorization Only
  8. Average Ticket Size (AVT)
  9. Batch Processing
  10. Bank Card
  11. Capture
  12. Card Issuer
  13. Card Present
  14. Cardholder
  15. Chargeback
  16. CVC2 (Card Validation Code 2) & CVV2 (Card Verification Value 2)
  17. Discount Rate
  18. Doing Business As (DBA)
  19. Downgrades
  20. Interchange
  21. Member Alert to Control High-Risk Merchants (MATCH)
  22. Payment Gateway
  23. Personal Identification Number (PIN)
  24. Pin Pads
  25. Point of Sale (POS) Terminal
  26. Settlement
  27. Void

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