An advanced level of credit card security that helps in identity theft prevention is what we call the Address Verification System or AVS. A billing address is necessary when users make online purchases with the use of a credit card. As a result of this, you get a comparison of the house number along with postal code portions of the billing address and the billing address on file for the card.
Transaction will be declined when a match between the two addresses is not made. Thus, there is a failure of verification and chances are high that the transaction is fraudulent and it will not go through.
At times when the customer has moved or when something is spelled incorrectly, the address will not be verified as well. You should ask the customer if this ever happens just to verify the information because there is a possibility that the financial institution just has a bad address on file.
However, AVS only verifies the submitted information of the card. Also, if a hacker already got all of the pertinent information then the card transaction is likely going to pass. These incidents are very common with orders coming from foreign countries.
On the other hand, with the aid of verification softwares, managing international addresses will be made easier. Aside from being easy to install, these programs can work on most operating platforms and they can be effortlessly incorporated into business web sites and various computer applications.
An advantageous feature of the Address Verification System is that it improves productivity of employees because forms can be filled out automatically with the use of its auto complete features. It even lets you verify addresses as soon as you start typing in the information. This feature cuts down on time filling out the forms and you can be sure that all information will be accurate and spelled perfectly. These will also perform recurrent verification checks in the database as well as update any old address data. Using address verification softwares may decrease the expenses associated with the return of undeliverable mail.
You can find many companies on the internet that deal with address softwares, helping businesses in verifying their customers' addresses. Demo versions and free trials are available so a business can try out the software before they buy it. It is truly a wise investment to purchase this software because it can assist in business operations by decreasing operating costs, generating sales leads, improving customer service, and of course, generating revenue.