The security code of ABC's credit card is extracted from the comprehensive data on your card by the issuing bank, and then calculated by scientific calculation and a series of complex algorithms.
Once these three numbers are produced, only the Agricultural Bank of China and the local people know what the numbers are, and the importance of these numbers is self-evident. At present, many new payment institutions can support password-free payment, and only need ID number, card number and the last three digits on the back of the card to pay.
Extended data:
The credit card security code is a set of 3 or 4 digits on the credit card. Its generation method is that the bank extracts the account number, validity period and service code of the card, arranges them and then calculates them through a series of complicated algorithms. After this set of numbers is generated, only the issuing bank and the holder of the bank card know what this number is.
CVV password verification means that commercial banks add the verification code of self-defined algorithm to the bank card number coding rules and magnetic stripe data format they use, and the related bank cards are also called CVN bank cards.
CVV information is stored in the track of magnetic stripe bank card. According to the information such as card number, track main account number and logo code of issuing bank, it is encrypted by special encryption algorithm defined by each bank, and every step is encrypted by CVKA technology to get verification code. Because the encryption algorithms of different banks are different, some fake cards illegally made by using the obtained bank card information can be identified and cannot be used when the issuing bank decrypts them.
References:
Baidu encyclopedia-credit card security code