ID Theft
Password protection for credit cards?
Why does credit cards are not password protected during swiping at the merchandise. Debit cards do need password. Why can't the same be done for credit card and minimize its fraud usage to a great extent .
Public Comments
- Credit cards are 'password' protected. It's a special password called a signature, which involves a large number of individual components arranged in a very special format. So special, in fact, that if a purchase is made withou the correct 'password', it can be detected.
- That password for credit cards is the three digit code on the signature line on the back of your card call either a "CVV" or "CVC" code (don't ask me what those mean). Those codes can verify if a card is valid or a forgery. However, most businesses never check the back and many machines don't ask for them, though some verify the last four digits on the front of the card. If you want added protection, write on the signature line (or even small on the front) "ASK FOR ID". The cashier, if they care, will look at your driver's license, which they can compare the name on the card to your picture and name on your license. Then again, many 18 year olds working at stores don't bother checking. In this circumstance, you have the ability to dispute the lower charges if they are not yours. Unfortunately, credit card security is only as strong as the person to whom you hand your card. If the business looks shady, don't do business with them. In response to the previous answer, as far as the signature line, by the time you are signing a slip, the money is in process to be transferred to the merchant's bank. There is no system (at least, at the bank I worked at, which was the second largest bank in the world) that scans every credit card receipt for signatures. If you notice, most places don't require signatures under $20.
- This is an authenticating code established by the credit card companies to help ward off fraudulent use on the internet. When purchasing something on the internet the interface on the checkout will often ask for this code. It is located on the back of the card and usually a 3 digit code. This provides a cryptographic check of the embossed information on the front of the card. The back of the cards do contain the full 16-digit account number. the CVV/CVC code comes after the long number separated by a space. Asking for the code helps, but doesn't guarantee, that the person making the purchase has the credit card in hand. VISA and Mastercard call it the CVV2. American Express calls it the CID. You could write in "Ask for ID" next to your signature when you are checking out of an offline store. It is fun to see if the clerk asks or not. CVV stands for CARD VERIFICATION VALUE CODE
- becaz it is not a singel use means ,thurd persen use
