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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:
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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.
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:
-
Call the owner of the credit card
before the order is shipped.
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Customers usually develop a pattern
of making purchases: you should keep
your eyes open for any changes.
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