Today we are in the world of fast developing e-commerce. You could order everything and anything with just a click. The development of internet has resulted in e-business and online credit card payments. It has become impossible to run an online business without accepting credit card payment. However, every businessman must also be certain the valuable advice given by their purchaser over the web is securely and safely transferred to your website. It is important to understand 2 important aspects related to safety of accepting credit cards. They are AVS=Speech verification Service and CVV=Card Verification Service.
When you accept credit card payment you will go in for AVS wherein the Address of the purchaser will be sent for confirmation. The chip will verify and match the address supplied by the client together with the owner of the card. This is done to be certain the presenter of this card is its owner. However it’s notable to point that if there’s a difference found in the address the card will be accepted for processing and would not be rejected. So it’s for the vendor to choose whether he would proceed and accept the card notwithstanding the mismatch or request any other details for additional verification.
CVV is a more stringent form to restrain frauds. This is a 3 digit number Located on the back of the card and it’s not found on any other statements. You would not find this CVV number in monthly statements or reception etc so the holder of this card will know this amount. When you accept credit card payments request for CVV number a sort of verification process that the purchaser is in possession of the card of prtship. By requesting this CVV number it is possible to eliminate fraud to a larger extent.
If you are performing an online business then you may ask for credit card details for payments. In such situations the details given by the consumers are transferred lots of occasions and so every time it’s moved there are chances of being abused. Whilst an online business merchant its own duty to protect the information given from your buyers. To secure the information which you can get SSL certificate and use the encrypting method to secure all of the valuable information given from the consumers. All these features have to be assessed by you together with the processing firm before you begin accepting credit card payments.
Not Just during the transfer of the data but also after this Information has to be correctly kept and kept out of reach of undesirable folks. It can be misused by your staff and employees. At this stage all Type of security measures must be adopted to guarantee the protection of your buyers. Just a safe and secure payment procedure will help you gain the confidence of your buyer.