Forum Moderators: phranque
...(somebody) overheard a Visa VP saying that
with the new CVV2 they wouldn't allow rebilling
because they won't allow the CVV2 number to be
stored so on the rebill it will be a declined transaction.
Memberships and p*rn etc. will get a huge shake up
if/when this happens
...they would have to address
it because Visa and MC will be making CVV2 required
for internet transactions. They can't now because some
cards issued in 99/2000 didn't heve the number yet but
it's getting close?
from what i remember, it's a bit like a pin number. when a card holder makes a purchase on the net via a payment processing company (worldpay etc), they can enter this number to show that they are the card holder. if the number is valid, the transaction is authorised and the retailer is then protected against chargebacks as the cardholder will not be allowed to charge back when that CVV number is used.
AFAIK this is a new thing, not the same as the number on the back of the card, but i could be wrong about that.
visa will be introducing this soon, and AFAIK it will be optional for the first couple of years as it will take this long for all cards to be replaced. mastercard will be introducing something very similar, but not had any precise details yet.
AFAIK it will only be used with internet transactions through payment processing companies - it will not be used with bank merchant accounts - this has implications for sites using SSL and processing card numbers manually as these companies won't have the ability to use CVV through their normal bank merchant accounts.
as for volatilegx's rumours - AFAIK, if rebilling is allowed, it will only be through payment processing companies that provide repeat billing service (worldpay, 2checkout and so on), and only where the original transaction is set up for repeat billing - in this case, the customer will know about it in advance and will therefore have authorised the transactions.
i'll try and dig out the info over the weekend if nobody else finds it first, but no guarantees i've still got it.
