Online shopping has its perks, notably the convenience and ease of use.
You can shop for just about anything using your smartphone, tablet, computer or even your smart TV. Payment is just as easy- all you have to do is enter your shipping address and credit card number.
The only problem is, hackers are aware of this and are trying to get a piece of the pie by stealing credit card information. For this reason cvvs are invented.
What is a CVV Filter?
A cvv filter is a feature in most respectable websites and retail shops. It can help reduce online fraud, notably those who are unauthorized to make credit card transactions.
Before cvv filters were invented it was easy to buy something off the internet using just the card number and expiration date. Credit card and retail companies came together and invented cvv filters.
A Layer of Online Protection
A typical buying process goes like this- a user logs in a retail website, chooses the product and adds it to his or her cart, checks out and fills out the important details for the order to go through.
Today, you wouldn’t be able to buy something online if you don’t have your card handy. Right at the billing information page you will be asked to provide your cvv code, which is a three or four digit code located at the back of your card.
This filter can mean the difference between a successful transaction and a failed one. A correct cvv code input means the purchase will go through, while an incorrect one results in an error.
The only way to gain access to the cvv code is to memorize it or when you have it with you. That said, other people will have a difficult time guessing what it is. This process reduces fraud and helps curb unauthorized purchases on the web.
What is a CVV Shop?
You’d assume that your card is safe as it has a code no one else can see. However, hackers have plenty of ways to get this done.
The best CVV shop gets credit card information, called ‘dumps’ from hackers. They employ hardware called skimmers, which collect data from a credit card while it’s used in a brick and mortar shop or an ATM, for example.
Other times, hackers send malware to try and infect a retail store’s servers. When this happens, all the cards that have been recorded are ‘lifted’ and sent to the hacker’s hard drive.
Sometimes even the cvv code or the security code are acquired, and for this hackers and CVV shop buyers can now buy things for their own gains.
Steps to Prevent CVV Carding and Dumping
Credit card companies are now employing newer technology to try and curb hacking. Aside from the EMVs that allow for contactless payments, they are also implementing what’s called ‘dynamic cvv filters’.
Dynamic cvvs are kind of like OTPs that are sent via SMS or email. They can help eliminate card fraud by being only available for a few minutes. These codes can also change every 30 minutes or so.