How StrictlyZero Prevents Chargebacks?
Enhancing Payment Security with AVS and CVV2 Verification to Prevent Chargebacks
At StrictlyZero, we understand the importance of minimizing chargeback rates for your business. We are dedicated to providing advanced security measures to protect your transactions and ensure a seamless payment experience for your customers. Two key features we implement to prevent chargebacks are Address Verification Service (AVS) and Card Verification Value 2 (CVV2) verification.
Address Verification Service (AVS):
AVS is a fraud prevention system that cross-references the billing address provided by your customers with the address on file with their credit card issuer. When a transaction is processed, the AVS checks if the entered billing address matches the one associated with the card. If there's a mismatch, the transaction may be declined or flagged for further review.
By utilizing AVS, we can effectively:
Detects and prevents fraudulent transactions, as fraudsters may not have access to the correct billing address.
Reduce chargebacks due to unauthorized transactions.
Enhance customer trust by ensuring their sensitive information is being handled securely.
Card Verification Value 2 (CVV2) Verification:
CVV2 is a three-digit or four-digit security code found on credit and debit cards. This code acts as an additional layer of security, verifying that the customer has the physical card in their possession during the transaction.
By implementing CVV2 verification, we can:
Prevent fraudsters from using stolen card numbers without the actual card.
Reduce the risk of chargebacks resulting from fraudulent transactions.
Provide an extra layer of security for your customers, assuring them that their card information is protected.
Incorporating both AVS and CVV2 verification into our payment processing system enables us to significantly reduce the likelihood of chargebacks and fraud. By safeguarding your transactions with these security measures, StrictlyZero helps you maintain a secure and trustworthy payment environment for your customers.
Should you have any further questions or concerns regarding chargeback prevention or our security features, please don't hesitate to reach out. We're here to support your business and ensure a smooth payment experience for you and your customers.