There are several types of security codes: The first code is encoded on track 2 of the magnetic stripe of the card and used for card present transactions called CVC1 or CVV1, The second code is often sought by merchants for card occurring by fax, mail, or Internet telephone, it is called CVV2 or CVC2. The are required by payment systems such as MasterCard and Visa to authenticate their credit or debit cards.
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