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CVV Codes: Why do They Exist?

CVV (Card Verification Value) codes are either three or four-digit numbers that are printed on either the front or back of credit and debit cards. This system was created to provide an extra layer of security to merchants and card issuing banks against fraudulent transactions in card not present purchases. Two Types of Codes These…

Eleven-letter Dirty Word: Chargebacks

If you surveyed everyone in the payment processing world, both merchants and processors, what they wish they could do away with for good, I would venture a guess that 8 out of 10 would say chargebacks. Unfortunately this is not going to happen in the foreseeable future. And the reason for that is simple: the…