Visa Launches CVV-Free Payment Feature For Tokenised Transactions

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Right after the RBI approved the ‘Credit on UPI’ system through RuPay credit cards, the global card transaction company Visa, has launched a feature that will allow users to make online payments without the CVV number.

However, this feature is applicable in India only for domestic transactions, and the CVV will be asked only while tokenising the card. This process secures the card details with a unique code and further, the transactions will be done through a two-factor authentication process.

Commenting on this, Visa India and South Asia product head Ramakrishnan Gopalan said, “Tokenisation is being adopted in the mainstream ecommerce space well. We are now wanting to make the payment experience faster and more friction-free by removing the CVV. What we are saying now is that in a tokenised card transaction, the role of a CVV is limited and we are working with the industry to remove it.”

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