Valid bank cards feature security elements that are designed so that merchants can verify the authenticity of a card. Any merchant who accepts card payments in a face-to-face transaction should learn what these features are and where to find them on the card.
Large organization usually have a procedure for verifying cards. They train their staff on implementing this procedure in every face-to-face transaction. The process is easy and can be done in a few seconds. While waiting for an authorization response, the staff can verify the features.
Card Security Elements
- Signature Panel – This is located at the back of the card. It contains an element that states the name of the card brand. The words “Authorized Signature” and “Not Valid U less Signed” are printed on the signature panel. These words can be above, below or at the side of the panel. When these words are erased, the word “VOID” will appear.
- Magnetic Stripe – The account information is stored in this stripe. It also contains an encoded unique three-digit code to detect counterfeit cards. This is a different code from the card security code.
- Card Security Code – The security code of a card depends on the brand. It is a three-digit number found in a white box to the right side of or within the signature panel.
- Hologram – Card brands generally use unique three-dimensional holograms. They can be found either in front or at the back of the card. Holograms may be a dove, as used by Visa or a world map as used by MasterCard.
- Brand mark – Card brand logos must appear on the card. They may appear at the top, bottom top left, or top right corner of the card.
- Account Number – Account number of most credit cards are made up of 16 digits. The digits must be even, straight and of the same size. The first digit of the number identifies the type of card. Visa cards start with Number 4, while MasterCard starts with Number 5.
- Bank Identification Number – Visa and MasterCard have four-digit number printed below the account number. This number must be the same with the first four digits of the account number.
- Expiration Date – It can be found below the account number on all cards.
- Cardholder name – The name of the cardholder is imprinted at the bottom left corner of the card.
