Visa Launches CVV-Free Payment Feature For The Tokenized Transactions

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Visa, the global payment technology company, has launched a new payment feature that eliminates the need for customers to enter their CVV (card verification value) during online transactions. The new feature is designed for tokenized transactions, which replace sensitive payment information with a unique digital identifier called a token. With the new feature, customers can complete transactions without having to enter their CVV, improving the speed and convenience of online purchases. Visa’s tokenization technology is designed to enhance payment security, as it eliminates the need for merchants to store sensitive payment information. The CVV-free payment feature is available to participating merchants globally.

Right after the RBI approved the ‘Credit on UPI’ system through RuPay credit cards, the global card transaction company Visa, has launched a feature that will allow users to make online payments without the CVV number. However, this feature is applicable in India only for domestic transactions, and the CVV will be asked only while tokenising the card. This process secures the card details with a unique code and further, the transactions will be done through a two-factor authentication pro

Visa’s new feature allows users to make online payments without entering their CVV (Card Verification Value) number, which is typically a three-digit code on the back of the card that is used as an additional security measure for online transactions. Instead, the payment will be processed through a two-factor authentication process that includes a one-time password (OTP) sent to the user’s registered mobile number, and the card details will be tokenized for added security. The feature is currently available for domestic transactions in India and is aimed at simplifying the payment process for consumers while ensuring security.