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Understanding Payment Processing Terminology Glossary for Merchants

PayHawk

Address Verification System (AVS) A system that compares the billing address provided by the cardholder with the address on file with the card issuer to verify the authenticity of a transaction. Average Ticket Size The average dollar amount of each transaction processed by the merchant.

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Reasons Why Credit Cards Get Declined

Clearly Payments

Example : A shopper entering their address incorrectly during an online checkout process. Use address verification systems (AVS) to prompt customers to correct mismatches. Solution for Merchants : Regularly update point-of-sale (POS) and payment gateway systems to ensure smooth functionality.