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Archive for the 'Term Definitions' Category

Authorization Codes

An Authorization Code is a code that a credit card issuing bank returns in an electronic message to RevTrak that indicates approval of the transaction. The code serves as proof of authorization.
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Address Verification System (AVS) - Checks to see that the billing address given by the customer matches the credit card. If you opt not to use AVS, VISA and MasterCard will not support your transactions and will charge you an additional 1.25% on those sales. Most merchant accounts come with AVS at no extra charge.
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