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Address Verification Service (AVS)Address verification is a process that occurs with mail order, telephone, and Internet transaction processing. It is the process where the address the cardholder gives is validated against the records of the card-issuing agency.The purpose of address verification services is to guard customers against credit card fraud. In today's world, the threat of identity theft is always present. It is relatively easy to get someone's credit card number, but getting their number and their billing address both correct is much more challenging. Address verification service occurs when the credit card is authorized during the transaction. The authorization sends a code that tells the merchant how accurate the address match was from the address verification process. The merchant can then decide, based on the code, whether or not to accept the credit card transaction. While this sounds complicated, it happens in just a few seconds. The customer does not realize it is even happening! More Glossary Terms Explained here |
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