Two commonly available tools for credit card verification help form a resilient line of defense against fraud: the use of an address verification service (AVS) and card code verification (CCV). AVS should be used particularly in circumstances where a costumer’s billing address differs from the shipping address. Although it may be less convenient, a more secure option is to have the billing and shipping information filled out with each transaction that goes through AVS. This is also true of the CCV, which demonstrates that the card is in the physical possession of the authorized user. Keeping a CCV in file for a customer circumvents this security measure.
Rather than having a single log-in for your merchant credit card processing system, you should have a multiple user account with a separate username and ID for every employee that uses the system, with carefully selected sets of permissions for each user. This is essential for correlating actions through your merchant interface to individual users, and limiting all but necessary access to sensitive data. You should also change log-in passwords on a regular basis.
You should also regularly monitor new and unsettled transactions, and investigate or void any that seem suspicious before your daily cut-off time. Unusual amounts, changes in address, and unusually frequent transactions are examples of red flags which warrant a closer look at these transactions. Your merchant account may have features which allow you to filter for these indicators automatically.
These are by no means the only measures available to help you to avoid credit card fraud. Ask the provider that does your merchant credit card processing to advise you on additional security measures that may be appropriate for your business.
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