Dynamic Card Verification Value

A computer-readable medium comprising instructions that, when executed by a processor, cause an electronic computing system to:

• automatically select a dynamic service code such that the dynamic service code is substantially unpredictable based on previously requested dynamically-generated card verification values (CVVs) for a transaction card;
• automatically generate a dynamically-generated CVV for the transaction card, wherein the dynamically-generated CVV is based on a card number of the transaction card, an expiry date of the transaction card, and the dynamic service code;
• automatically send, from the card processing server to a cardholder device, a first set of data, the first set of data indicating the dynamically-generated CVV;
• in response to receiving a transaction request, automatically determine whether a provided CVV corresponds to the dynamically-generated CVV, the transaction request is a request for an economic transaction, the transaction request specifying the provided CVV and a card number of the transaction card;
• and
• record a charge against an account of a cardholder of the transaction card when it is determined that the provided CVV corresponds to the dynamically-generated CVV.

A card processing server comprising:

• a processor;
• a network interface;
• and
• a data storage system storing instructions that, when executed by the processor, cause the card processing server to:
• use a pseudo-random process to select a dynamic service code;
• generate a dynamically-generated CVV based on a card number of a transaction card, an expiry date of the transaction card, and the dynamic service code;
• use the network interface to send to a cardholder device a first set of data, the first set of data indicating the dynamically-generated CVV;
• determine, in response to receiving a transaction request from a merchant,
• whether a provided CVV corresponds to the dynamically-generated CVV, wherein the transaction request specifies the provided CVV, the card number of the transaction card, the expiry date of the transaction card, the merchant, and an amount of an economic transaction;
• automatically determine, when it is determined that the provided CVV corresponds to the dynamically-generated CVV, whether the dynamically-generated CVV is valid;
• automatically record a charge against an account of a cardholder of the transaction card when it is determined that the provided CVV corresponds to the dynamically-generated CVV and the dynamically-generated CVV is valid.