Why we don’t print the 3 digit CVC/CVV code on our sync. X cards
By not printing the CVC/CVV code on the sync. X card, sync is able to add extra layers of security to protect user's money.
We're always looking at new ways we can protect you and your money, and this is one of the best.
WHY WE DON'T PRINT THE CVC/CVV - OVERVIEW
We know that security plays an important role when you decide where to store your money. That is why we’re always innovating to protect you and your money better, and sometimes that means challenging the status quo.
Traditionally, all the cards you carry in your wallet, purse or pocket have all the information you need to buy something online – the card number, expiry date and CVC. That made sense in the past, but does it still?
In this day and age, it’s very easy for somebody to find out your card details. Someone could take a picture of your card without you noticing, or perhaps a website your details are stored on gets hacked, or you leave your card on the train and it is picked up by someone with poor intentions… the possibilities are endless.
WHY WE DON'T PRINT THE CVC/CVV - RIPPING UP THE RULE BOOK
We looked at what’s printed on the card and we considered what would happen if they weren’t there. Specifically, we looked at that 3 digit code on the back of your card – the Card Verification Code (CVC). The CVC was created as an alternative to your PIN in order to act as an authorisation for transactions you don’t complete in person. But you can change your PIN if you’re worried someone knows it, so why can’t you change the CVC when it’s stored on potentially dozens of websites?
So we ripped up the rule book of what every other Bank, Challenger Bank and FinTech accepted they had to do – print the CVC on the card. We challenged our Partners that with the advancements in technology, and the fact that the majority of people always have a smartphone on them, why do we still print the CVC on a piece of plastic that is easy to lose? It was hard, and at times frustrating, but in the end we all agreed – it was outdated.
So we don’t print the CVC on your card. If you need it, you can find it within your sync. app after securely logging in. And the best bit – if you think someone may know your card details, or if you don’t trust a website you’ve just used, or if a website has recently experienced a data breach – just press a button and you will have a new, randomly generated, CVC. This means even if someone tried to buy something, the transaction would be declined.
We know that people are concerned about protecting their money, and we will continue to do everything we can to give you the ultimate trust that your money is safe. Sometimes that will mean having difficult conversations, collaborating on ground breaking ideas and breaking down walls, as that is what it takes to innovate.
Whilst we’ll do what we can, always remember to do what you can to keep your account safe and always protect your card details.
Let’s make a difference.
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