Which acronym stands for PIN verification value encoded in the magnetic stripe of a payment card?

Which acronym stands for PIN verification value encoded in the magnetic stripe of a payment card?

• A. PTS
• B. POS
• C. Port
• D. PVV

Answer: (D)

PIN Verification Value is the value used to verify a cardholder’s PIN offline. It’s generated by the issuer and stored on the magnetic stripe so that, during a transaction without online authorization, the terminal can check that the entered PIN matches what the card expects. The verification works by taking the entered PIN (and other card data) and comparing the resulting PVV with the PVV stored on the card; a match confirms the PIN is correct. Other terms there refer to hardware or locations rather than the verification value itself, so they don’t represent the PIN verification data used in magstripe PIN checks.

PIN Verification Value is the value used to verify a cardholder’s PIN offline. It’s generated by the issuer and stored on the magnetic stripe so that, during a transaction without online authorization, the terminal can check that the entered PIN matches what the card expects. The verification works by taking the entered PIN (and other card data) and comparing the resulting PVV with the PVV stored on the card; a match confirms the PIN is correct.

Other terms there refer to hardware or locations rather than the verification value itself, so they don’t represent the PIN verification data used in magstripe PIN checks.