Payment Instrument Validation

Payment Instrument Validation

Merchant Boost has a suite of Payment Instrument Validation tools to verify status and predict risk. Bank Account Status Verification (BASV) and Card Account Verification (CAV) tools offer real and near real-time verification of dozens of attributes from consumers' and business' card and bank accounts including status, risk levels, and issuer profiles. Other attributes enable verifying checking accounts against a negative check database and allows for instant verification of account balances.

How Can Payment Instrument Validation Help?

Payment Instrument Validation has become an integral part for businesses that need to mitigate risk or ensure KYC in real time. Businesses use Payment Instrument Validation tools to mitigate against fraud and errors when a customer presents an invalid or suspended payment instrument at the point of application. Other businesses use the Payment Instrument Validation tools at the point of payment to ensure that the account is valid. Using either of these methods increases the quality of your customers profiles, and ensures goods metrics for payment performance with your processors.

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