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Transaction Security Code (TSC)
A Transaction Security Code (TSC) is a unique numeric or alphanumeric code used to authenticate and authorize financial transactions. It acts as an additional layer of security, helping to verify that the transaction is being initiated by the legitimate cardholder or account owner.
How does a TSC work?
A TSC is typically generated dynamically and used for one-time verification during online or mobile transactions. A TSC may be delivered via SMS, email, or generated by a banking app or hardware token. Unlike static codes such as a PIN, a TSC is often time-sensitive and expires shortly after issuance.
Why is a TSC important?
A TSC may help prevent unauthorized access and fraudulent transactions by requiring a second factor of authentication. This is especially critical in environments where card-not-present (CNP) transactions occur, such as during online shopping or mobile banking.
Common use cases for a TSC:
TSC vs. CVV: What's the difference?
While both a TSC and CVV (Card Verification Value) are used to secure transactions, they serve different purposes:
Top questions about a TSC
Additional resources:
Keywords:
Transaction Security Code (TSC) | One-time password (OTP) | Authentication
Transaction Security Code (TSC)
A Transaction Security Code (TSC) is a unique numeric or alphanumeric code used to authenticate and authorize financial transactions. It acts as an additional layer of security, helping to verify that the transaction is being initiated by the legitimate cardholder or account owner.
How does a TSC work?
A TSC is typically generated dynamically and used for one-time verification during online or mobile transactions. A TSC may be delivered via SMS, email, or generated by a banking app or hardware token. Unlike static codes such as a PIN, a TSC is often time-sensitive and expires shortly after issuance.
Why is a TSC important?
A TSC may help prevent unauthorized access and fraudulent transactions by requiring a second factor of authentication. This is especially critical in environments where card-not-present (CNP) transactions occur, such as during online shopping or mobile banking.
Common use cases for a TSC:
- Verifying online purchases
- Authorizing high-value transactions
- Securing mobile banking sessions
- Confirming identity during account changes
TSC vs. CVV: What's the difference?
While both a TSC and CVV (Card Verification Value) are used to secure transactions, they serve different purposes:
- A CVV is a static three-digit code printed on the back of a card, used to verify the card during online purchases.
- A TSC is a dynamic code generated for a specific transaction, offering stronger protection against fraud.
Top questions about a TSC
- How do I find my security code without my card? If you're referring to the CVV, it's printed on the back of your card. For a TSC, it is typically sent via SMS or generated by your banking app.
- What is a transaction code? A transaction code can refer to a TSC or a reference number used to identify a transaction. In this context, it’s a security code used for authentication.
- What is my three-digit security code? That’s usually your CVV, not a TSC. A TSC is typically longer and generated per transaction.
- Is the transaction security code the same as CVV? No. A CVV is static and printed on the back of your card. A TSC is dynamic and used for one-time authentication.
- Where do I find my secure transaction code? It’s usually sent to you via SMS, email, or generated in your banking app during a transaction.
- What is transaction security? It refers to the measures taken to protect financial transactions from fraud, including the use of a TSC, encryption, and multi-factor authentication.
Additional resources:
- Video: Advances in banking technology fuel smarter fraud
- Video: BAI deep dive: Combating Current Fraud Threats
Keywords:
Transaction Security Code (TSC) | One-time password (OTP) | Authentication
