Posts Tagged ‘address verification system’

AVS Protects Your Account Information

Dec 4, 2008 by Jim

AVS stands for Address Verification System and is used by payment gateways to verify the identity of the person making an electronic payment. This applies whether you are paying from your bank account or credit card. The system checks the billing address on file for that account. If the street address and zip code do not match the billing address on file, the payment will be declined to protect the cardholder.

Merchants normally have the ability to set various levels of security for their merchant account. They may require area code verification for your phone number as well. In addition, credit cards have a CVV2 number on the back of the card consisting of 3 or 4 digits. You must have the credit card to fill in the CVV2 number on an electronic payment form.

These are protective measures financial institutions have developed to maintain the privacy of your account information. Even though it may take a moment longer to complete the necessary information, it is well worth the time. The online payment form and virtual terminal used by AutoPayRent.com utilize the Address Verification System (AVS) for your benefit. Your account information will be confirmed in order for your rent payments to be accepted, and this is a good thing for all of us!