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    Home»Technology

    Preventing fraud using Postal Verification Services

    Julia_RockzBy Julia_RockzJuly 14, 2022Updated:July 14, 2022 Technology No Comments4 Mins Read
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    The Address Verification Service (AVS) may significantly improve fraud prevention in credit card transactions. This technique compares the credit card holder’s current address with the bank’s records. If the address doesn’t match, the transaction is halted before completion. Merchants may use this service provided by credit card processors and banks to confirm that the cardholder makes all the credit card transactions.

     

    Postal validation: An Overview

     

    A postal validation tool may be utilized efficiently to avoid fraud and chargebacks. Card-not-stop Fraud may also be avoided by using this method. When a consumer provides their address during the checkout process, AVS is activated. Using this information, the bank can verify that this address is correct. Merchants get a code from the bank and that code influences whether a transaction is accepted or rejected.

     

    Mastercard developed the tool, which several other businesses have now used. Processing begins when the buyer has entered their address. The processor compares the numeric values of the address, such as the street address, the box number, the zip code, and so on.

     

    Depending on the situation, a response code may be generated for the following six conditions: complete match, partial match, no match, address match, zip code match, data unavailable, or international address match. This process takes just a few seconds and is completely undetectable to the user.To proceed forward, the authorization procedure requires that the answer codes be the same. The transaction is marked as suspicious in this case since the answer codes don’t match.

     

    When used in conjunction with other security measures, AVS is most effective. This enhances security for both the client and the business.Amazon’s payment gateway, for instance, sends your credit card company’s address information. The bank that issued the credit card gets the data from the brand. The bank checks the address against the one on file to ensure it is correct. After that, it notifies Amazon’s payment gateway of the authorization status and response code.

     

    Fraud Prevention Made Easier Thanks to Postal Validation

     

    AVS protects against chargebacks and card-not-present fraud. This acts as a safeguard for those who have had their credit cards stolen. It also helps in the fight against fraud by filtering out bogus credit cards issued by con artists.

     

    They are charged back for the amount they paid for an item on their account statement after successfully disputing it. When a client makes an online purchase and then demands a chargeback after getting the acquired items, they commit chargeback fraud, also known as friendly fraud. The merchandise and the money are returned to the client.

     

    Because AVS prevents the chargeback from ever being submitted, it stops this from happening in the first place. When a consumer commits friendly fraud, their address does not match the one in the bank’s system.

     

    This is also true of card-not-present (CNP) fraud, which occurs when a credit card is not physically presented to a retailer. Mainly, these transactions are carried out by telephone or the Internet. You may purchase something from a debit or credit card using information obtained via phishing. As long as the thief pretending to be the consumer is asked for their address during the transaction, AVS prevents this from occurring. As a result, the transaction gets turned down.

     

    Lastly, people who use counterfeit credit cards to purchase on Amazon typically use generic or computer-generated mailing addresses. The transaction may be halted if AVS identifies the phony addresses.

     

    The following are the most important takeaways.

     

    Customers and businesses benefit from AVS when it is used in conjunction with other security measures. Response codes created by the issuing bank and provided to retailers may successfully thwart chargeback and card-not-present fraud. This facilitates a smooth and safe transaction by confirming the address.

     

    The critical advantage of AVS is the speed at which a transaction may be verified. In addition, it increases the trustworthiness of the transaction for both the consumer and the seller. AVS and additional safeguards like IP address verification and biometric analysis make AVS a failsafe method of securing online transactions.

    Julia_Rockz

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