We received a letter from our Credit Card merchant that as of Oct 2018, all card-not-present transactions must have a CVV code. However, the card issuers prohibit recording the CVV and require that the CVV is provided by the cardholder for every transaction.
At a lot of ecommerce stores that store your credit card, you can see this policy as you have to enter the CVV code when you purchase something.
At this point, Vin65 does not support storing the CVV codes in the contact profile or does it allow to enter the CVV when we are processing club orders. Can someone indicate, please, how we will be able to process club shipments and what we need to do to be prepared for possible forthcoming changes.
Who is your merchant processor?
Can you post a copy of the letter?
Storing cvv’s is against the TOS for all cards, so it sounds like they may be talking about qualifying for a lower processing rate on card-not-present transactions. Depending on the type of processing agreement you set up, having the user enter a cvv will often lower the rate. With club processing you will not be able to receive this lower rate w/o violating the TOS al CC’s.
Please find below a copy of the letter. This has nothing to do with lower rates. Really can’t image how we do club processing if we are required to input CVV’s but are not allowed to store them.
Honestly, I am completely lost about the Stored Credential Framework section of the letter, while I think it actually pertains to a lot of the recurring club orders.
I’m not an expert, but my reading of the letter towards the bottom indicates there is more to learn about recurring transactions.
Other self renewing subscription type services - like Dollar Shave or Blue Apron - will be in the same boat. Also hotels will still need to be able to initiate a room charge when you don’t show up. Stuff like that.
