검증업체: With today’s advanced technology, we are now able to do a number of virtual transactions. Settling our utility bills, shopping and paying our employees can now be done in the comfort of our own homes in front of a computer on the Internet or by processing a credit card payment over the phone.
But have you noticed that the computer or the agent will always ask for your complete address in every transaction? If you have been doing a lot of transactions by phone or Internet, I’m sure that you have encountered this scenario a number of times. Some of us are getting very annoyed with it because they keep on asking that information even if they have our address on their records. This process is called address verification.
Just to clarify, we must not be annoyed if the agent is doing address verification on transactions. This is a very important task and is considered a standard operating procedure in terms of money matters.
But why is it very important for companies to do address verification? Companies are basically doing this for two reasons. The first one is to make sure that every transaction is an authorized transaction and thus protecting you from account fraud or theft. For example, another person had a hold of your credit card. By the mere possession of the card, he could use it to do some online or phone transactions. However, he will not be able to do that since he will be asked to verify the billing address of the card. Since that person does not have that information, he cannot verify it and thus the transaction will not push through.