Address Verification Service as Security Procedure

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Address Verification Service As Other Security Measures

In order to create a more secure web gateway, there has been a general need for ways to ensure proper usage of the credit card. A couple of ways have been made that would permit a company to greatly reduce the use of fraudulent purchases with a credit card. These means are referred to as the address verification service (AVS), and the CVC2 (or CVV2).

Address Verification
Address verification greatly reduces fraud by ensuring that the purchaser knows the mailing address of the owner of the credit card. Since most credit card fraud occurs from people who do not know this address, most fraudulent purchases could be stopped here. When this system is in place, authorization to finish the credit card transaction is stopped.
Credit Card Verification Numbers
The other verification system is referred to as the card verification value (CVV2), or the card verification code (CVC2). This refers to the extra numbers - usually on the back of the card, consisting of either three, or four numbers.

Secure Shopping Carts Abandonment

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One thing that has been focused on when it comes to dealing with ecommerce is the number of people who abandon the transaction after they have filled their secure shopping carts, and are ready to check out. Some reports are saying that it may be as high as 65%, or more. Although not entirely sure as to the reason, one definite factor is that people may not be feeling that the site is secure - and therefore not willing to commit their credit card information. Of course, another reason could be that they were attempting a fraudulent transaction, and when they saw that it was secure - gave up - who knows.

Protecting The Merchant

By having all of the above measures in place, and a few more that were not mentioned, the overall environment of shopping on the Internet is made safer, and smoother. The customer would be able to relax more, and the percentage of those who complete their shopping cart and actually check out will be higher. The same reports that speak of abandonment rates also say that the amount of money lost due to incomplete transactions, currently lies in the range of hundreds of billions of dollars - soon to amount to trillions.

It is obviously, then, in the interest of the merchant, and all merchants, to help ensure that the buying process is made simpler and safer by using secure shopping carts - making it more enjoyable for each customer. The creation of a more secure web gateway would also result in a more desirable flow of money for all merchants.

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