CVV stands for Card Verification Value. If the CVV number is required during an online purchase, it would show that you are in possession of the credit card and it should be valid. The CVV number should never be shared with anyone as it should be secure at all times. It should not appear anywhere on the web or social sites.

CVV Number is a 3 or 4 digit number printed on the back of a credit/debit card. This number is also known as Card Security Code, CVVC, CSC or Card Verification Value. Different payment systems have different ways to verify this security code during online purchase so you should know about them in order to avoid a data loss.

The payment system may use CVV number verification using the following options:

• 3D Secure – The customer is redirected to his bank’s website where he has to enter the login details and the online purchase requiring the CVV number will be approved or rejected based on this security code entered by you. If it is rejected, the payment will be declined.
• One Time Password (OTP) – This is a password sent to your phone number or email id which you have to enter online for the purchase. The OTP may be valid for just one transaction so you have to apply it each time during each purchase.
• ZIP/Postal Code – The online merchant may ask you to enter the ZIP code of your billing address or zip code. This number is checked against the postal code of the address on record with your credit card company and only after verification, the payment will be approved.
• Address Verification (AVS) – Payment system checks for street number, street name, zip code and the city name of your billing address against the information on record with the credit card company.

Are you a victim of Card Data Breach?

Most banks or financial companies do not provide any protection for online purchase if CVV number was compromised during a data breach at a retailer. The reason is that you have shared the information with a third party without knowing it. You may be a victim of a Card Data Breach and in order to make sure, you should contact your bank/credit company and find out if they have noticed any suspicious activity on your card.

In most cases when CVV number is shared online or stolen from an ecommerce website, the thief can use it for online transactions where the CVV number is required. The thief may wait for a while before using it so that the card details go unnoticed.

If you are not the only person who knows about your credit/debit card and its CVV number, then you should change it as soon as possible and never share this number with anyone for any ecommerce related purchases.

The online vendors do not need this security code for transactions where they give you an option to save the card details for future use and you can pay them without entering the CVV number every time. This way, your credit/debit card information is saved on their servers and there is no need to use the CVV number.

In some cases, you do not need to enter the CVV code during online purchase but if your card is listed as a zero liability product by your bank/credit company then you should be careful about which site you are entering this number on. Always check the terms and conditions for further details.

The Payment Card Industry (PCI) has introduced a new rule called PCI DSS 3.0 which all the ecommerce websites must follow and they should implement it by October, 2015. If you do not want to share your CVV number or if you think that the website is asking you an unreasonable amount of information for online transactions then you should avoid them.

Follow the steps mentioned here if you want to protect your card and transactions:

• Never share your CVV number with anyone. This number is like a password and should not be shared.
• Contact your bank/credit company to find out if they have noticed any suspicious activity on your card or not.
• If you suspect any fraudulent activity on your card, report it immediately.
• Make sure that the online merchant requires only your credit/debit card number and nothing else to complete the transaction. If they are asking for more information like billing address, ZIP code or phone number then you should not trust them with your sensitive information.
• You should also check the privacy and terms and conditions policy of the online store and see if they are asking for too much information from you.
• If all looks fine then you should enter your details on that site but if something seems fishy or out of line then report it to your bank/credit company at the earliest.
• Always check the security certificate before entering your sensitive information. If it does not show a padlock or says ‘Not Secure’ at the top of the browser then do not enter any details and go to another website which is secure and has SSL installed.

The Network Access and Brand Usage Fee (NABU) is a system that has been introduced by the network providers in order to tackle overuse of mobile internet services. The NABU should not be confused with other related fees like Value Added Service (VAS) or Operator Charges. This fee will be billed separately from the monthly bill for mobile services.

What is the amount of Network Access and Brand Usage Fee?

The fee will be calculated based on a certain percentage of the cost of the mobile service plan, however it will not exceed 500,000 dong per month. The value of the NABU may fluctuate as time goes by depending on inflation rates and market forces.

Why do network providers need this fee?

Mobile service providers have applied the NABU fee in order to optimize their revenue. The related costs are rising quickly as more people switch from traditional phone lines to mobile services, especially for using internet-connected applications on smartphones. Mobile companies have said that they will use money collected from the NABU to cover growing internet connection costs for customers.

How much does it cost to connect to the network?

The total fee for connecting or disconnecting a line, regardless of any special services activated (voice mail, call forwarding), is 3,000 VND. The fee is paid by service providers and users are not charged. There is no fee for SIM change with the same number and package, however there will be a one-time fee of 3,000 VND for changing the PIN security codes to ensure that fraud does not occur.

When and how can I use this service?

Mobile users will see the Network Access and Brand Usage Fee when they subscribe to a mobile service plan or in their monthly phone bills. The fee will be implemented from August 1, 2015 and the amount of 500 VND per month will be collected from each user account.

For example: If you have subscribed to a monthly package at 500,000 VND, after three months (August-October), you will be charged 500,000 VND + 1,500,000 VND (Network Access and Brand Usage Fee) = 2,000,000 VND.

What is the time period for collection of the fees?

The fee will be collected quarterly at the end of each quarter in January, April, July or October to make it easier for users to track their expenses. The NABU fee will be applied on the total of all monthly subscriptions (for all numbers under that account) or on services like SMS, internet, or international call within 12 months.

What if I don’t want to use the service anymore?

If you are no longer using a service or a certain type of internet-based application, you should immediately inform the telecommunications company in order to avoid being charged for NABU services. Mobile users can also temporarily stop using the fee-carrying applications until they have paid off their NABU fees.

Debit card processing fees are a critical component of any credit card processing company’s pricing structure. Debit cards make up an increasingly greater percentage of total transactions, and many payment processing companies have responded to this trend by offering debit card processing as a separate service or changing their pricing to accommodate these transactions. Debit cards are the preferred payment type for consumers and merchants alike because Debit processing fees tend to be lower than traditional credit card processing fees, and Debit cards offer consumers the convenience of not having to carry cash.

Debit cards work much like a standard credit card except that instead of requiring a line of credit established by the bank, they draw funds directly from your checking account when you make a transaction. Debit cards, therefore, tend to be very useful for immediate transactions and transactions where you do not want to put the item on your credit card. But they are also more complicated than standard credit cards in terms of processing fees because Debit cards can be processed in two different ways depending on what type of Debit card is being used.

Debit cards that require PINs are processed like standard credit cards where the business swipes the Debit card through a point of sale (POS) terminal. Debit cards that do not require PINs cannot be processed in this way because Debit cards without PINs draw funds directly from your checking account when you make a purchase by simply entering your Debit card number and a Personal Identification Number (PIN).

Debit cards that do not require PINs can be swiped as Debit cards or processed as Credit cards. In the latter case, the Debit card issuer draws funds from your checking account and places an authorization hold much like a standard credit card processing transaction except that it does not bill you for the Debit card transaction.

Debit cards are also processed in a similar fashion to credit cards when they are key-entered or e-commerce Debit cards where the Debit card number is entered into the appropriate fields on the merchant’s website and an online Debit purchase is made with no physical Debit card swiped. Debit card processing fees with Debit cards that do not require PIN entry are highest when Debit card transactions are key-entered or e-commerce Debit cards because Debit cards without PINs cannot be processed in the same way Debit cards with PINs can.

Debit card issuers like Visa and MasterCard set their own rates for Debit card transactions. Debit processing fees vary from Debit issuer to Debit issuer and Debit transaction type to Debit transaction type so it is best for a merchant to compare Debit processing rates from numerous Debit issuers before making a decision on which Debit service to use.

A Guide To The Different Types of Debit Card Debit cards can be processed in two different ways: Debit Cards that Require PINs Debit Cards that do not require PINs Debit Cards that require PINs are processed in much the same way as a standard credit card transaction. Debit transactions using this methodology draw funds from your checking account and place an authorization hold much like a standard credit card transaction.

Debit Cards without PINs Debit Card issuers are able to process Debit cards without requiring a Personal Identification Number (PIN) in two different ways: Debit Cards that require the Debit Card Number and the Expiration Date Debit cards that do not require the Debit Card number or expiration date Payment processing companies like Debit Card Solutions process Debit cards in the Debit cards that do not require the Debit card number or expiration date way.

When a Debit card is processed in this way, Debit transactions place an authorization hold much like a standard credit card transaction would but they do not bill you for Debit processing fees . It is important to note Debit card processing fees for Debit cards that do not require PIN entry are higher than Debit card processing fees for Debit cards with PINs because Debit card issuers have to pay a percentage of each Debit transaction to the payment processor.

A Credit Card Surcharge is a fee that you will be required to pay businesses over and above the stated price of goods and services if you choose to use your Credit Card. The Credit Card industry has become increasingly competitive with Credit Card providers vying for market share by offering very attractive interest rates, reward schemes etc.

Credit Cards are now available for almost every consumer and Credit Cards are now also offered to people with bad credit. Credit Card surcharges could be seen as an attempt by businesses that accept Credit Cards to recover the transaction fee which Credit Card companies levy on them for accepting Credit Cards payments.

What Are The Different Types Of Credit Card Surcharges?

Credit Card surcharges can be either a fixed fee or a percentage of the Credit Card transaction value.

1. Fixed Credit Card Surcharges – In many cases, Credit Card companies will allow businesses to charge Credit Cards holders a flat rate which is usually charged on all transactions made using Credit Cards. For example, Starbucks coffee shops in Australia may charge an extra $0.50 Credit Card surcharge on all transactions made using Credit Cards.
2. Percentage Credit Card Surcharges- Many Australians are concerned about the Credit Card surcharges charged by different Credit Card companies that vary from business to business. For example, in Australia, Visa Credit Cards charge a flat fee of 2.5% Credit Card surcharge on all Credit Card transactions. This Credit Card surcharge can be a fixed fee or a percentage of the total Credit Card transaction value. Mastercard Credit Cards charge a slightly lower flat fee of 2% Credit Card surcharge on all Credit Card transactions.

Are Credit Card Surcharges Legal In USA?

Credit Card law in USA is primarily governed by Credit Card Act 2009. Credit Cards issued by Credit Card companies, Credit Card Associations etc are covered under the Credit Card Act 2009. Credit Card surcharges on Credit Cards transactions are considered to be an unfair practice and unless these practices fall under one of the exemptions provided in Credit Card law (discussed below), Credit Card companies will not be able to allow Credit Card surcharges.

Are Credit Card Surcharges Legal In USA?

As Credit Card surcharges are considered to be Credit Card fraud and Credit Card duress, Credit Cards companies and Credit Card Associations in USA will not allow Credit Card surcharges.

Are There Any Exemptions When Credit Card Surcharges Are Allowed?

Credit Cards companies have blanket restrictions on the imposition of Credit Card surcharges. Credit Card surcharges will have to fall under one of the exemptions set out in Credit Card law for Credit Cards companies or Credit Card Associations to allow Credit Card surcharges.

Some examples of cases where Credit Card surcharge are allowed as an exemption include: –

• Credit Cards issued by non-profit entities, institutions etc. Credit Cards are often issued by Credit Card companies, Credit Card Associations etc in the name of non-profit entities or institutions. Credit Card surcharge imposed in these cases will not be considered to be Credit Card fraud or Credit Card duress provided that the Credit Cards company issuing the Credit Card can provide evidence that they have made an agreement with the Credit Card holder not to impose Credit Card surcharges.
• Credit Card surcharge imposed on Credit Cards transactions which are subject to a higher Credit Card processing fee
• Credit Cards issued by State Government where Credit Cards are used for business purposes. If you work in the public sector, Credit Cards issued by your state government may provide you with certain tax benefits. Credit Cards issued by state government may be exempt from Credit Card surcharges.
• Credit Cards issued to Credit Card holders who are members of Credit Card associations or Credit Card companies which the Credit Card surcharge is applied to.
• In almost all other circumstances, Credit Cards companies will not allow Credit Card surcharges as they violate their blanket restrictions on Credit Card surcharges.

Credit Cards companies will not allow Credit Card surcharges to be imposed on Credit Cards transactions, even if Credit Card holders have agreed to Credit Card surcharges during the Credit Card application process.