Address verification software
is vital in reducing the number of fraudulent credit card transactions carried out online, it has been claimed.
Writing for TCM Net, Susan Campbell has explained that the software helps online retailers confirm that transactions are carried out by the card owner.
The expert added that address verification
tools are able to create a red flag if an individual attempts to make a credit card purchase and send the goods to an address that differs from one on file.
“Payment authentication is essential for the success of the e-commerce sector and with address verification software in place, the retailer is on the right track,” Ms Campbell said.
“Address verification is a key protection in this mobile society and without this protection – life would have to slow down.”
Meanwhile, an earlier report by the news provider suggested that companies could minimize errors by implementing the software.
Citing the results of an Experian QAS study, TCM Net claimed that nearly two out of three businesses find that between five and 30 per cent of their marketing budget is wasted annually as a result of bad data.
Posted by Rachel Wheeler