The shifts we’ve seen of late point to an era of reduced reliance on the printed credentials of a physical card, the evolution of security models devaluing static card details, and tokenisation driving digital-first payment experiences.
Mastercard’s 2030 commitment has further reinforced its focus on tokenisation, while Discover Financial Services/Discover Global Network took a significant step by finally launching its cloud-based network tokenisation platform. This move allows Discover to catch up with the other global schemes (Visa, Mastercard, and American Express, who have long offered full-scale network tokenisation solutions.
Last year, Visa announced changes to CVV2 requirements in the UK/Europe, whereby it’s no longer required for certain transactions. Specifically, for domestic and intraregional payments authenticated via Visa Secure (3DS), passing CVV2 in the authorisation request is now optional.
Not only does this mean CVV2 won’t always need to be passed, but issuers in the UK/Europe can no longer decline a Visa Secure transaction just because the CVV2 value is missing.
The presence (or absence) of CVV has been a talking point for as long as I’ve been in payments. Amazon is one of the cacaseshat has puzzled me for a long time! InIndeed,ong before such frameworks were in place, Amazon had been operating without passing the CVV value in transactions. The industry consensus [for those of us outside Amazon’s strategy] was that they prioritised a seamless checkout and simply absorbed the fraud risk and security costs as part of their business model… maybe, maybe not or maybe they fall under a different exemption group… Would love to hear other perspectives on that.
That being said, CVV2 isn’t disappearing entirely. It will still be mandatory for:
◾Non-3DS domestic and intraregional transactions
◾3DS-authenticated transactions where the issuer is outside Europe
So what’s behind this move?
It makes sense since 3DS already provides authentication. As digital wallets and adaptive security models become the norm, the reduced reliance on CVV2 signals an industry-wide shift towards stronger, more sophisticated fraud detection techniques.
👉🏽#Paymentexperts, any perspectives to share on the #cvv or #authentication frameworks?
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