The Introduction and Use of AVS-Fincone

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Introduce the form of verification to prevent credit card fraud, AVS working mode and virtual credit card providers. If you need, please contact us.

When shopping online in the US, many merchants verify the identity of the cardholder by verifying the credit card security code and AVS (Address Verification Service) to prevent credit card fraud.

Forms of verification to prevent credit card fraud

Virtual credit card

1. Card number + expiration date

2. Card number + expiration date + CVV2

3. Card number + expiration date + CVV2 + 3D verification

4. Card number + expiration date + CVV2 + AVS

1. Verification method of card number + expiration date

Use it a lot when booking flights, hotel reservations, or car rentals, since most of the time you'll be using a physical credit card to swipe it on the spot or for a service you've booked yourself. As a result, airlines, hotels and car rental companies are not particularly concerned about credit card fraud and can book with just the card number and expiration date.

2. Verification method of card number + expiration date + CVV2

This is the method most eCommerce sites use. One exception, however, is Amazon, which only requires the cardholder's name, card number, and expiration date when adding a credit card, and only verifies the card number and expiration date.

Many people think that eCommerce sites have to ask shoppers to provide their credit card number, expiration date, and correct CVV2 code in order to deduct the fee, but they don't, eCommerce sites only need to know the card number and expiration date in order to deduct the fee. I don't know if you noticed this, when you shop on some sites, you add a credit card for the first time, you need to provide your card number + validity + CVV2. Ecommerce sites will save your credit card information (some will be prompted, some won't) for your next shopping purchase. However, according to MasterCard and VISA organizations, e-commerce sites are not allowed to keep their customers' CVV2 information, otherwise it will be considered a violation. There are definitely some sites that secretly keep the cvv2 codes of customers' credit cards, but I believe most still follow the rules. So when you pay later, the e-commerce site simply debits your credit card by card number + expiration date. You will be asked to provide cvv2 for security verification only when your IP address, computer or phone changes, and when an e-commerce site considers a transaction to be risky.

3. Verification method of card number + expiration date + CVV2

This method is more common in Asian e-commerce websites, but it is not common in Europe and the United States, because the credit card system and credit mechanism in Europe and the United States are very complete, and the safety of funds is guaranteed. The 3D security authentication function greatly protects the cardholder's card security, improves customers' confidence in online shopping, reduces the probability of chargeback (mainly malicious chargeback), and protects both users and merchants.

4. Card number + expiration date + CVV2 + AVS verification method

Address verification service, which greatly increases the difficulty for customers to place orders. Many times, it causes customers to abandon their purchase. There are not many e-commerce sites that use address verification services for verification, mainly to prevent payment rejections and exclude some non-target customers. 

AVS working mode

Known as an address verification system, AVS verifies the cardholder's address by verifying a digital component to confirm the cardholder's identity. Currently, only VISA and MasterCard credit cards issued in the US, Canada, UK, and US by Express and Discover support AVS.

Amazon will establish its own risk control system and does not contact third parties (payment gateways, card issuing banks, etc.). Here are some risk warning signs

1. Customers often change their IP addresses when logging into their accounts, which increases the risk index.

2. Multiple account logins on different devices, such as new mobile phones and computers

3. Frequent use of new shipping addresses

4. Frequently add or delete different credit cards

5. Register a new account and make a large purchase

If you are verifying PayPal with a US-issued virtual credit card, or if you purchased a Google product, please ensure the zip code is correct when first adding your credit card or verification will most likely fail.

Virtual credit card supplier

Fincon is a company specializing in providing financial services to startups. It can provide services such as opening bank accounts, obtaining commercial credit cards and making cross-border payments. Our fintech solutions are more secure, convenient and professional. If you also need similar services, please call us at +86-16266316316 or email us at evan.fan@fincone.com, we will be happy to serve you.

 

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