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However, they did remove the Address Verification Service (AVS) charge of $0.001 per transaction and the Card Verification Value 2 (CVV2) fee of $0.0025 per transaction. Once authorized, the transaction is completed, and funds are transferred from the issuer to the acquirer, minus the interchange fee. The fee is 0.0075%.
Ask an Expert How SEON Helps Fight Virtual Credit Card Fraud Because VCC fraud is a type of card not present fraud, traditional card security measures such as chip verification cannot prevent it.
Card Verification Value (CVV2) codes cannot be stored on restaurants’ systems and are therefore far less likely to fall into the wrong hands. An address verification system (AVS) that matches credit card billing addresses to those filed with banks is another means of prevention.
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