[nayefc]

> Future charges from the same vendor can go through based on the stored information (without re-sending the verification code), but charges from a new vendor would need the code, so this is intended to make it harder for someone who stole the saved information to initiate a new charge.

That's not true >"charges from a new vendor would need the code". Online credit card transactions only require a credit card number, expiry month & expiry year. The verification code is optional and is used as a fraud check / deterrent. Payments with an invalid verification code are highly suspicious. Therefore, when Apple (or any merchant) asks for the verification code initially, it passes the initial fraud tests and the card is stored as a "verified card" (or perhaps, only verified cards are stored). Further charges are then most probably legitimate (since it passed the previous fraud check).