Card verification encompasses security protocols aimed at confirming the identity of the cardholder during a transaction, thereby minimising the potential for unauthorised usage and fraudulent activities. A crucial component of this process is the Card Verification Code (CVC), which is a 3- or 4-digit number found on credit and debit cards utilised in online transactions. This mechanism guarantees that the individual conducting the transaction possesses the physical card, thereby providing an extra layer of security.
In the travel sector, where online reservations are prevalent, card verification is essential for mitigating fraudulent activities. By mandating the inclusion of the CVC during the payment procedure, travel agencies can confirm that the customer is in possession of the card utilised for the transaction, thereby substantially lowering the risk of fraud. This measure is especially crucial in an industry that handles substantial monetary transactions, including airline tickets and hotel accommodations.
A significant challenge associated with card verification is the risk of payment abandonment when customers encounter difficulties in locating or inputting their CVC. It is essential for travel companies to strike a balance between security measures and user experience to prevent additional verification steps from adversely affecting the booking process. By streamlining the payment interface while upholding rigorous security standards, this issue can be effectively addressed.
Felloh guarantees that travel companies can safeguard both their interests and those of their customers by implementing comprehensive card verification procedures, all while maintaining a smooth booking experience. Through the incorporation of effective card verification systems and the provision of features such as fraud prevention mechanisms and decline optimisation, Felloh facilitates secure and successful transactions. Additionally, by integrating various payment methods and acquirers, Felloh offers travel companies increased flexibility, minimising payment failures and improving customer satisfaction.
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Felloh provides PCI-compliant card processing, partnering with multiple merchant acquirers to offer competitive rates for Visa and Mastercard transactions. You can also choose to accept Amex cards. With real-time transaction data, you’ll see completed transactions instantly in your dashboard.
