New Register here for RBI, SEBI & NABARD strategy workshop! April 9 at 7 PM

    Question

    ________has launched  CVC (Credit verification

    code)-less online transactions for its debit and credit cardholders who have tokenized their cards on merchant platforms.
    A Mastercard Correct Answer Incorrect Answer
    B Visa Correct Answer Incorrect Answer
    C American Express Correct Answer Incorrect Answer
    D Capital One Correct Answer Incorrect Answer
    E None of these Correct Answer Incorrect Answer

    Solution

      Payment network Mastercard has launched  CVC (Credit verification code)-less online transactions for its debit and credit cardholders who have tokenised their cards on merchant platforms.  CVC is the three-digit number printed on the back of debit and credit cards. According to the Reserve Bank of India (RBI)’s guidelines, merchants will collect CVC only once while tokenizing the card.       From the second transaction onwards, cardholders will be required to select their tokenized card from the checkout page, confirm the one-time password and complete the transaction without entering the CVC.

    Practice Next