Is It Safe To Give a Debit Card Number and CVV Over the Phone?
Card-not-present transactions are becoming increasingly popular, having grown by more than 20% in 2021 alone, according to Visa’s estimates. Card-not-present transactions refer to remote credit and debit card purchases, processed without a physical card interacting with a POS terminal—in other words, transactions conducted online and over the phone.
The popularity of card-not-present transactions raises a crucial question—is it safe to give a debit card number and CVV over the phone? This article will provide the answer and tackle other relevant topics, such as:
- The meaning and significance of the CVV number
- The most common types of phone scams
- Effective ways to verify callers
- Safer alternatives to phone transactions using a debit card
What Is a CVV Number, and Why Can Revealing It Be Risky?
CVV is short for “card verification value,” a unique code used to confirm online and over-the-phone transactions with debit and credit cards. The name and structure of the CVV can vary depending on the card issuer—here’s a breakdown of CVVs across the four largest payment card networks: