The spelling of the phrase "CARD NOT PRESENT" may seem straightforward, but there are a few tricky sounds to note. "CARD" is pronounced /kɑːrd/, with a long "a" sound. "NOT" is pronounced /nɒt/, with a short "o" sound. "PRE-" is pronounced /priː/, with a long "e" sound. Finally, "SENT" is pronounced /sent/, with a short "e" sound. Putting it all together, the correct pronunciation of "CARD NOT PRESENT" is /kɑːrd nɒt priːsent/.
The term "card-not-present" refers to a transaction wherein a credit or debit card is used for payment without physically presenting the card to the seller or merchant. Instead, the cardholder provides the card details over a phone call, through email, or via an online platform. The absence of the physical card makes these transactions susceptible to a higher risk of fraud compared to card-present transactions, which typically involve swiping or inserting the card into a card reader.
Card-not-present transactions are common in e-commerce, mail-order purchases, and over-the-phone orders where the customer is not physically present at the point of sale. To complete such transactions, the cardholder usually provides the card number, cardholder name, expiration date, and CVV (Card Verification Value) code. In some cases, additional security measures such as 3D Secure, address verification systems, or fraud-detection systems may be utilized to minimize the risk of fraud.
Merchants accepting card-not-present transactions often follow stringent protocols to ensure the legitimacy of the transaction and prevent unauthorized use of the card. These protocols may include actions like verifying the customer's identity through additional identification documents or implementing a secure payment gateway with effective fraud prevention measures. It is crucial for both the cardholder and the merchant to be vigilant and cautious during card-not-present transactions to mitigate the risks associated with potential fraudulent activities.