What is the primary function of the dCVV and CVC3 technology?

The primary function of dCVV (Dynamic Card Verification Value) and CVC3 (Card Verification Code 3) technology is to serve as a unique transaction identifier. This is vital in enhancing the security of online and card-not-present transactions. Unlike static CVV codes that can be easily compromised, dCVV codes change with each transaction, significantly reducing the risk of card fraud. They provide a unique code that is generated specifically for a single transaction or a limited time, which means that even if a fraudster were to intercept the code, it would be useless for future transactions.

The importance of this function lies in its ability to ensure that each transaction can be authenticated based on this unique identifier, making it difficult for unauthorized users to replicate or reuse it. This significantly bolsters the security measures in place for electronic payments, making online shopping and card-not-present transactions safer for consumers and merchants alike.