No need to memorise card details, CVV-free card transactions made easy for you! :- www.deekpay.com

No need to remember card details, CVV-free card transactions make payments easier!

When shopping online or offline, customers expect to enjoy a convenient transaction process and strong security. We can choose from hundreds of payment options, using credit and debit cards offered by different card issuers. In fact, customers can now make transactions even if they don't have their cards with them. On some online platforms, there is even no need to enter a CVV code when using a saved card for a transaction. In the card-not-present (CNP) transaction process, which does not require CVV, the user completes the transaction without entering the CVV.

What is the difference between card-not-away trading and card-present trading?

A CNP transaction is when an individual enters their card details online for a remote transaction. In contrast, a card presence transaction is when an individual's payment details are captured live by a salesperson at the time of sale. This typically occurs when a card is physically swiped, tapped or inserted, or when an EMV chip is processed at a POS terminal.

CVV-free trading - the future of seamless card trading

The Indian e-commerce market is growing at a dynamic pace and is expected to reach $188 billion by 2025. Customers regularly shop on popular e-commerce platforms such as Amazon, Flipkart, Myntra, Nykaa, Meesho, etc. data from PayU reveals that nearly 65% of customers save their card details on these platforms to make future transactions easier. The payment processors and aggregators used by these platforms, such as PayU, use network or issuer tokens to correspond to these cards as per RBI guidelines to ensure the highest level of security.

Below is the current process for Save Card transactions:

Customers log in to their favourite shopping platform. They add the desired items to their shopping cart and head to the checkout. At checkout, they select a saved card as their preferred payment method. They enter their CVV and click the "Pay" button. They enter the OTP received to complete the transaction.

In seamless CVV-free trading, you can skip the fourth step of entering CVV and complete the trade directly using OTP. What are the advantages here?

Smoother checkout experience

Reduced card transaction latency

Increase CNP Transaction Conversion Rates

Web Standards Compliant Payment Solutions

Why choose PayU for seamless CVV-free transactions on your platform?

PayU provides this functionality for save card transactions across all major networks such as Visa, Mastercard, Amex and Rupay. We implemented this functionality in a modular way, allowing customisation across networks and card issuing banks. This resulted in a 2% increase in conversion rates.

For example, with a simple configuration built into your payment solution, you can allow CVV-based transactions, or vice versa, for certain networks and card-issuing banks. This toggle can be easily enabled or disabled in an instant.

Our intelligent routing knows which network and issuing bank combinations still require CVV.You can pass all tokenised card details using a simple API and we will identify transactions that require CVV and those that don't so you can customise the process on the checkout page as required.

For more information about CVV-free card transactions, 请发送邮件至[email protected].