Card security code

Send in your questions as well on Spotify.

Send them in on chrisfanley.com and send them in on social media with the hashtag AskCVV.

Thank you for all of the great questions this week.

I can't wait to break down Penta versus Roman Reigns next week on Ask CVV.

And what I mean by that is cards are not mobile first.

If you want to make a payment using cards on your mobile phone, you have to enter your card number, you have to enter your CVV, you have to enter your OT, you have to enter your expiry date, you have to enter your name, your address.

If you're building a mobile payment instrument, you're not building all that.

In spite of all of that, it's still not secure because somebody has a card number, he can still do whatever he wants.

That don't really help.

Once you get to a CVV fan, now you can talk.

How do you decipher what you're gonna put...

Like, are you just, "Hey, I'm giving you everything"?

Mm-hmm.

Because you can have a lot of fans who don't feel the needs, they don't feel the need to touch their credit card.

That don't really help, right? When it comes to ticket sales, moving them to a platform, a, a like doesn't cost you anything, but if I'm willing to put that 16 in, CVV, once you get to a CVV fan, now you can talk, right? So they, they had this new program at Tubi, the Creator Program, and I had backed up what I was talking about on KevOnStage Studios, and I was selling tickets on stand-up.

So they're like, "If he's selling tickets and selling out all over the United States, and he had this platform with all these numbers, we believe he'll actually be able to move his audience over." 'Cause they had worked with a lot of influencers who they would give shows to, but they couldn't convince their fans to come over.

I think this is why lots more PSPs are getting in to consumer or making the... making the kind of wink or nudge into the consumer space is because most consumers already trust a PSP, even if they don't know it, with some of their most sensitive card details.

Whenever you go to a payment page, you type in a full card number, you type in the address, you type in CVV, CVC, you type in all the information into that screen that's then captured by the PSP.

that could be used to basically drain your account to kind of make multiple transactions, take all the money out of your account, but you trust them to process the payment and to secure those details.

I think once a PSP gets into the consumer space and builds some sort of wallet with consumer identification, consent, limits, connected payment methods and authorizations and specific merchants that agents are allowed to transact at, you kind of got both sides of that that transaction covered because you already know if you're a merchant let's say you're a merchant with Stripe embedded as part of the payment process and you're a consumer with a Stripe consumer wallet You already know who's making that transaction at the point at which they kind of hit their consent or hit authorization.

Because some shady things were going on, and they got caught with their hand in the cookie jar, and now they're running for the hills.

Tell us why such a big part of this is the acceptance of donations from credit cards while not requiring that CVC or CVV number.

Is that-

Mm-hmm

It didn't marry up.

You know the little one, you order something online, you have to give the three-digit code, that CVV on the back? They weren't requiring that.

They've admitted to scores of violations that they caught.

The problem was they were looking the other way.