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Decoding the Credit Card

Decoding o The Credit Card Bank Name 1234 5678 9012 3456377 Carcholder hane Authorized Signature 1234 5678 9012 3456 VALID FROM: VALID THRU. Cardholder Name 09/12 09/16 E M N Major Industry Identifier It is the first number, and it identifies the industry within which the card is primarily to be used. 0- ISO/TC 68 and other industry assignments 1 - Airlines 2 - Airlines and other future industry assignments 3 - Travel and entertainment and banking/financial 4 - Banking and financial 5 - Banking and financial 6 - Merchandising and banking/financial (Discover) 7 - Petroleum and other future industry assignments 8 - Healthcare, telecommunications and other future industry assignments 9 - For assignment by national standards bodies Issuer Identification Number The first 6 digits of a credit card number are known as the Issuer Identification Number (IIN), previously known as bank identification number (BIN), issued under the ISO/IEC 7812 standard. These identify the institution that issued the card to the card holder. The IIN ranges used by the major card schemes are: Visa: Card numbers start with a 4. MasterCard: Card numbers start with the numbers 51 through 55. Diners Club: Card numbers begin with 36 or 38. Discover: Card numbers begin with 6011 or 65. - Japan Credit Bureau (JCB): Card numbers begin with 35. American Express (Amex): Card numbers beginning with 34 or 37. Cardholder's Name C - It displays the name of the person to whom the card has been issued. - It must match the name mentioned in the respective bank's account (for which the card has been issued ). - The card should only be in possession of the person whose name is printed on the credit card. EMV Chip It is an IC Chip used to authenticate payments. EMV stands for Europay, MasterCard and Visa, a global standard for inter-operation of integrated circuit cards (IC cards or "chip cards") and IC card capable point of sale (POS) terminals and automated teller machines (ATMS), for authenticating credit and debit card transactions. The most widely known chip card implementations of EMV standard are: - VSDC - Visa - M/Chip - MasterCard - AEIPS - American Express -J Smart - JCB - D-PAS - Discover/Diners Club International. Account Number It constitutes the 7th and following digits (except the last digit). It displays the bank account number of the person to whom the card is issued (cardholder). This unique account number is part of the payment authentication process and the basis of all transactions made through the card, and any payment via card is subject to the status of the account. E.g. You can't make payments if your bank account is on hold. Card Brand Logo This displays the logo of the brand that issued the card to the cardholder. MasterCard S AN The most widely known card brands are: - Visa - MasterCard - American Express - JCB - Discover/Diners Club International. VISA DISC VER Check Digit G It is the last digit of the card number. It is a form of redundancy check used for error detection on identification numbers (e.g. bank account numbers) which have been input manually. It is based on the Luhn Algorithm. Most credit cards and many government identification numbers use the algorithm as a simple method of distinguishing valid numbers from collections of random digits. Expiration Date The expiration date is displayed under "VALID THRU". in MM/YY format. E.g. "VALID THRU 11/ 25" means the card will expire on in Dec 2025 Some cards also display "Valid From" - the date from which the card was operational (this is optional). Hologram It is the last digit of the card number. It is a form of redundancy check used for error detection on identification numbers (e.g. bank account numbers) which have been input manually. It is based on the Luhn Algorithm. Most credit cards and many government identification numbers use the algorithm as a simple method of distinguishing valid numbers from collections of random digits. J Name of The Issuer The expiration date is displayed under "VALID THRU". in MM/YY format. E.g. "VALID THRU 11/25" means the card will expire on in Dec 2025 Some cards also display "Valid From" - the date from which the card was operational (this is optional). Magnetic Stripe Ki The magnetic stripe is capable of storing data by modifying the magnetism of tiny iron-based magnetic particles on a band of magnetic material on the card. It is read by swiping past a magnetic reading head. There are up to three tracks on magnetic cards known as tracks 1, 2, and 3. Point-of-sale card readers almost always read track 1, or track 2, and sometimes both, in case one track is unreadable. The minimum cardholder account information needed to complete a transaction is present on both tracks. Track 1 is the only track that contains the cardholder's name. Signature Strip William Shakes peare's signat ure is regarded as the most expensive signature inthe world. There are Only six origi nal signat ure and each DID YOU KNOW ? The signature strip is the area on the back of a card coated with a white or gray material that holds ink. Imprinted near it are words to the effect of "Authorized signature, Not valid unless signed." The Signature Strip is meant for the card holder to sign with their authorized signature. This signature should match the one associated with the account. Some people avoid signing, to discourage unauthorized use. However, merchants are not supposed to accept such cards. is estimated e $ 5 million. M Card Number It is the same number as embossed on the front of the card. This is printed on the back and is used for verification purposes. Card Verification Value (CV V) CVV number is a security feature to protect against credit card fraud, in case of transactions where the credit card is not physically present in front of the merchant. It is NOT the PIN number. It is mostly a THREE digit number at the end, on the back of the card. It is known differently by different card brands: MasterCard – card validation code ("CVC2") Visa - card verification value ("CVV2" ) Discover – card identification number ("CID") American Express - "CID" or "unique card code" Debit Card - "CSC" or "card security code" N CreditCardProcessing.com Merchant Accounts & Credit Card Processing Since 1998

Decoding the Credit Card

shared by web.creditcardp... on Jul 03
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If you don’t know what a CVV or an EMV chip is then it’s time you got acquainted with what these and many more phrases are because they are on your credit card. You should know exactly what inform...

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