There is such a thing as a Continuous Payment Authority in the legal/regulatory sense. It isn’t backed by much practical implementation or anything particularly specific going on, but that doesn’t mean it doesn’t exist.
For recurring payments, merchants generally bill you the first time with the CVC you entered. If they bill you subsequently for a subscription or whatever, there’s no CVC, and there is a flag which indicates that it’s a recurring payment.
Consumers have the right to revoke the Continuous Payment Authority held by a particular merchant. They can do this by contacting their card issuer. This is actually something I did with Monzo about a year ago.
Practically speaking, it just means that they decline all authorisations from that merchant ID for your account.