What is this?
These are systems created by Visa and MasterCard for additional verification of online transactions.
How do they work?
When attempting to perform a transaction at an online store or any other system accepting credit cards for payment connected to these systems (their number is growing every day and is determined mainly by the VBV and MCSC logos on the homepage), a prompt to enter the transaction password or activate VBV or MCSC appears.
How are these systems activated?
At http://usa.visa.com/personal/security/vbv/index.html and http://www.mastercard.com/securecd/welcome.do you enter your card number and answer the questions posed. Typically, these include asking for SSN, DOB, CVV, ZIP, sometimes MMN. After answering the questions you are allowed to set a transaction password.
What to do in case of already activated VBV or MCSC?
When prompted to enter an existing transaction password that you do not know, click the Forget Password? Then you will be taken to the standard password recovery procedure, which includes the same questions as when activating VBV or MCSC.
Is a card with an activated VBV or MCSC valid?
Yes, of course. If necessary, you can restore the transaction password.
How does a carder benefit from VBV and MCSC?
When a transaction password is entered, it is the bank, not the store, that is responsible for the frod actions. Therefore, when VBV or MCSC is activated, any system significantly reduces antifraud and therefore skips the payment.
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