When accepting payments, one will have to have a merchant account, and they will also have to pay for the service and buy or rent equipment. This is just part of doing business, and one will save money in the long run if they use a great service. With this in mind, an entrepreneur will want to avoid fraud, and he or she can do so with an address verification service. While a lot of people may know the term, they don’t know what it means. With this in mind, here is a short guide explaining what an address verification service is.
Billing address of the consumer: Now, a lot of people have multiple addresses, or they have a business and home address. To avoid any issues, one should know where their credit card is registered. Then, when trying to making a payment or buy something online, one can do so with ease if they have the right address in mind. Since a merchant account owner will verify this, there is no way around it, and a person must know the zip code, street and house number. Then, one can watch the transaction complete quickly.
False positives: Sadly, sometimes, there are false positives, and one will have to manually override the transaction. Other times, if the consumer has shopped at the store often, he or she can have the product shipped to a different location. Either way, when looking to buy something online, one should realize that credit card processing is not simple, and mistakes can easily happen.
Biggest way to prevent fraud: Without a doubt, when shopping online, one will want to avoid fraud. This is not easy, especially when sending items over the Internet. So, for this reason, when looking to protect the company, one must use multiple methods to prevent fraud. For starters, one should use common sense and look at the IP address of the buyer. But, when thinking about it, one will realize that they can avoid issues if they simply verify the address of the consumer. Simply put, when looking to prevent fraud with credit card processing, an address verification system is the best tool to use.
When looking to accept plastic, one should use every tool available to fight fraud. When doing so and using an address verification system, one can save time and money, all while avoiding other problems related to online shopping.