Get Secure - Learn About Credit Card Processing Fraud

In a retail environment, it is really important to be able to process credit and debit card payments in the way that customers will expect

. Processing credit and debit card transactions is relatively easy to do, but there are security issues which you should be aware of, for the sake of your customers and your business. Any transactions you perform need to be legitimate, so that you can collect the money.

There are two elements of credit card processing security, AVS and CVV. Both of these verify the credit card holder and allow transactions to take place over the internet and in a retail environment. Any merchant who wants to accept credit and debit card orders should ask for both the AVS and CVV codes to verify the customer.

AVS - Address Verification Service

AVS is used to verify the address of a customer matches the address associated with the debit or credit card. AVS helps retailers gain confidence that the customer is supplying genuine credit card information, and that it is indeed their credit or debit card.

AVS is not technically essential for processing credit and debit card payments, transactions will not be automatically cancelled if the address is wrong, but the responsibility lies with the merchant to decide whether to permit the transaction. Transaction processors should send responses to the vendor advising them how closely the address provided matches the address registered to the cards.

CVV - Card Verification Value

The CVV is a three or four digit number found on the reverse of most mainstream credit and debit cards. This code is reserved for the card only, and cannot be found on any bank statements or with any other account information. When a customer can provide the correct CVV code (through a website, for example), it proves that he or she has the credit or debit card in their hand.

The idea is that this code can try to worm any fraudsters out who might have just found selective pieces of credit card information. Most card fraud occurs because a criminal finds a discarded receipt or credit statement, but without the correct CVV code, merchants can block this type of credit card fraud. If a CVV code is entered and it is incorrect, the transaction should automatically be declined by the credit card issuers.

Ensure that any credit card transaction equipment is secure by obtaining it from a reputable credit and debit card processing company who can encrypt the information to make the data less open to abuse.

by: john mce

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