Boosting your payments security with Account Validation Services

In today's digital landscape, the threat of cyberattacks and payment fraud is ever-present, making it essential for organizations to fortify their defenses. With fraud impacting a significant portion of companies, safeguarding your applications and payment systems is more critical than ever. One effective strategy is to implement a layered defense approach, incorporating proactive solutions like validation services to protect against threats such as business email compromise.

J.P. Morgan Payments’ latest API offering, Account Validation Services (AVS), empowers clients to enhance their security measures. This post introduces how J.P. Morgan Payments can help you proactively protect your platforms, enhance your applications, and ensure secure transactions.

What is Account Validation Services (AVS)?

AVS is a robust solution that allows clients to validate account status and confirm the account ownership of individuals and businesses in real time. This service is designed to provide an additional layer of security to help you confirm that your transactions are conducted with verified accounts, thereby reducing the risk of fraud and errors.

Why AVS is essential for organizations

In the fast-paced world of software development, accuracy and security are paramount. AVS offers several benefits that can significantly enhance your applications:

1. Fraud prevention: By validating account details in real time, AVS helps prevent fraudulent transactions.
2. Operational efficiency: AVS streamlines the process of account verification, reducing the time and effort required for manual checks.

Key features of AVS

J.P. Morgan Payments AVS is designed with flexibility and ease of use in mind, and offers several key features that cater to the diverse needs of developers:

1. Package selection: Clients can choose from various AVS packages to find the one that best fits their needs. Whether you require basic account validation or more comprehensive verification, there's a package for you.
2. Connectivity methods: AVS offers multiple connectivity options, allowing clients to connect via J.P. Morgan Access®, API or Transmission. This flexibility enables you to integrate AVS into your existing systems.
3. Response type: Clients receive an easy-to-interpret mapped response, with specifics varying based on the selected product package. This clear and concise feedback helps you make informed decisions quickly.
4. Waterfall approach: AVS employs a waterfall approach, querying across multiple data providers and machine learning models. This method expands the reach and accuracy of account validation, providing a more comprehensive verification.

How AVS works

The process of account validation with AVS is straightforward and efficient. Here's a step-by-step overview:

1. Initiate validation: When you need to validate an account, you initiate a query through your chosen connectivity method (J.P. Morgan Access®, API or Transmission).
2. Data query: AVS queries multiple data providers and machine learning models to gather account information.
3. Receive response: You receive a mapped response that is easy to interpret, detailing the account status and ownership confirmation.
4. Make informed decisions: Based on the response, you can make a decision as to whether to proceed with more confidence, knowing that the account has been validated.

Continued vigilance against fraud

Ensuring accuracy and efficiency in your transactions is crucial, and J.P. Morgan Payments' Account Validation Services can help verify your accounts effectively. By streamlining verification processes, you can reduce errors and enhance decision-making. J.P. Morgan's experts are available to support your efforts.

Related

• More information on Validation Services
• Register for the Payments Developer Portal today and gain access to a world-class ecosystem of payment tools and support.
• 2024 AFP Payments Fraud and Control Survey Report