What does CVC stand for in the context of MasterCard transactions?

In the context of MasterCard transactions, CVC stands for Card Verification Code. This code plays a critical role in enhancing the security of card transactions, helping to verify that the individual making the transaction possesses the physical card. The CVC is typically a three- or four-digit number printed on the card, distinct from the card number, and is used primarily for card-not-present transactions, such as those made online or over the phone. By requiring the CVC, merchants can reduce the risk of fraudulent transactions, as it serves as a layer of protection that an unauthorized user would not have access to without the physical card.

Understanding the significance of the Card Verification Code aligns with the overall goal of improving security measures in electronic payments, which is essential for both merchants and consumers.