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3 MOST IMPORTANT SECURITY FEATURES AVAILABLE WITH FREE MERCHANT ACCOUNTS

 The “Free Merchant Account” search any search engine will throw up more than one million results. On Google, you will see about forty one million websites for this search and at least half of the companies really provide the free merchant account.

For a start up business, the “Free Merchant Account” is a boon – but, what can the owner of the business do to separate the good providers from the ones that are scams? Having forty one million results just does not make it any better.

The providers of “Free Merchant Account” give away many freebies. It can be either a waiver of the application fees, free setting up of the account or free terminal. Although, they offer many freebies, the merchant has to try and get more freebies for his business to make it even more cost – effective and productive. One of them is security tools.

The security measures given by the account providers protect the merchants from credit card frauds. Several billion dollars are lost to these e-commerce criminals every year and customarily, it is the smaller merchants who feel the greatest pain.

Therefore, one of the most important questions is How to provide secure and safe on line transactions to merchants? Given below are the top three methods to make online transactions secure:

  • Address Verification Service or AVS

This is an ingenious way to provide security which is most helpful to the internet merchant accounts. For the transactions related to the card – not – present account, the customers have to give their billing address which is verified against the card issuer’s address in their accounts. Suppose there is a mismatch in the two addresses then the merchant gets a code and then it is at the discretion of the merchant to either stop the transaction or continue it.

  • Card Security Number Confirmation or CVV2

This technology was developed by MasterCard and the Card Validation Code 2 or the CVV2 which is a 3 digit code that is printed on the backside of the credit cards has to be keyed in before the processing of the transaction is complete. If the codes do not match then the transaction is declined. The merchants never store these codes which assures the protection of the customers.

  • 3 – D Secure Code

This is a XML protocol that was developed by the best in the business “Visa” and was later used by “MasterCard”, also. This technology gives each credit card a unique password and any credit card transaction can be completed with this password only. The providers of “Free Merchant Accounts” proudly display “Verified by Visa & MasterCard Secure Code” on their sites to attract more customers and increase their sales.

A few simple steps also reduce fraudulent use of credit cards in a big way. Some of them are: