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  1. #1
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    First let me say I have very little fear using my credit cards online. I've been charging online for years now.

    Here's my question. I've noticed lately that a lot more websites are requiring the verification code now. How does this make it any more secure? If someone is going to steal my credit card number, either enroute to the merchant or off the merchant's computers (neither of which would be very easy, I don't want to make anyone paranoid about online shopping [img]/infopop/emoticons/icon_smile.gif[/img]), wouldn't they just steal the verification code right along with the number?

    I thought, obviously wrongly, that the verification number was more of another way for the credit card company to verify your identity when you called them up for whatever reason, dispute a charge, request a change of address, etc. I figured this because you had to physically have the card in your hand to have the verification code, but if online merchants are requiring it now that is no longer the case.

    Ok, I'm done with my rant. Any opinions on this? I know there is really nothing I can do about it and I will give that number to merchants just like I give them the credit card number.

    Brian

  2. #2
    2005 Linkshare Golden Link Award Winner  ecomcity's Avatar
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    The extra ID tag # only found on the actual card is used to prevent the con artists using a credit card number generator ( Yep those are available warez programs)or CC thieft from ordering.


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  3. #3
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>Originally posted by madmanbc:

    I thought, obviously wrongly, that the verification number was more of another way for the credit card company to verify your identity when you called them up for whatever reason, dispute a charge, request a change of address, etc. I figured this because you had to physically have the card in your hand to have the verification code, but if online merchants are requiring it now that is no longer the case.
    Brian
    <HR></BLOCKQUOTE>


    Well I thought the same thing too... but you have a valid point..... and you're right, the fact that online merchants are asking for the verification code now puts that information out there somewhere in a file - unless it doesn't save that piece of information once the verification is received, is that possible?

  4. #4
    ABW Ambassador
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    my understanding is that the information is only held for verification/intitial authorization. Since it should only be given on a secure site, and not retained, then it should at least in theory, provide the desired purpose.

    One thing I have noticed is many times it "fails" the verfication for my online purposes. the merchant still accepts the sale, but I don't understand why it'd fail.

  5. #5
    ABW Ambassador Doc Sawyer's Avatar
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    <BLOCKQUOTE class="ip-ubbcode-quote"><font size="-1">quote:</font><HR>
    ..... and you're right, the fact that online merchants are asking for the verification code now puts that information out there somewhere in a file
    <HR></BLOCKQUOTE>

    But, that info is on file anyway... Granted, not on an internet server but none-the-less accessible.

    As for security;

    1) I had to verify my credit card from my primary phone bearing my name and billing address.

    2) The security code inscribed on the back of the card would be available to any thief who stole the card and is available to any clerk in any store in which I use the card. Not a secret number!

    3) I have noticecd that https:// merchants seem to take note of IP addresses and id's and card numbers and passwords. They put all that private information together in a file and seem to do a pretty good job of defending it.

    Finally) The credit card companies want internet traffic. They offer very generous protection against internet fraud....one of the reasons their interest is so high!

    Doc

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