Enable contactless payments for any amount: Currently in some markets, contactless payments are restricted by a transaction limit. The use of CDCVM removes this limit.
- Reduce chargeback related costs: Merchants will benefit from the liability shift and won’t carry liability for fraud when CDCVM is obtained from the device for transactions. As a result, a merchant’s bottom line improves through chargeback reduction and reduced back-office handling of signature documents.
- Get faster throughput: CDCVM transactions allow the merchant to gain faster throughput at the register because customers won’t have to insert their cards for transactions above the transaction limit, and they won’t be required to sign or enter a PIN.
- Increase customer satisfaction: Customers will experience a more convenient and seamless transaction.
Consumer Device Cardholder Verification Method (CDCVM) is a type of consumer verification method (CVM) supported by the card networks when assessing transactions originating from mobile devices. Verification is used to evaluate whether the person presenting the payment instrument is the legitimate owner of the instrument, and affects where the liability lies for fraudulent transactions.
Touch ID or the device passcode can be used as the consumer device verification method, instead of the more traditional methods of PIN, signature for transactions in stores, or 3D Secure for transactions within apps. Contactless EMV transactions, CDCVM is performed and verified entirely on the device. During the transaction, no additional customer action is required on the payment terminal or paper receipt to verify the customer, such as a signature or PIN.