What is billing address in online payment?
What is billing address? Most time when people come across billing address when trying to make an online payment they do not know what address to provide. So we have decided to explain carefully meaning of billing address in this post. So, that the next time you want to make an online payment, you will know exactly what address to provide as the billing address.
What is the meaning of billing address?
A billing address is an address that is registered and connected to a specific type of payment which in most cases is a debit or credit card. It is used by banks and companies as a means of verifying the authorized user of a card, especially for an only payment. It is also the address where your bank or company will send your paper bills and bank statements.
When making an online payment, the billing addresses should match the address that is registered on file with the issuing bank. If it does not match, the attempted payment may not be completed.
You should remember that your billing address can be different from your shipping address. Your shipping address is the address where your packages are delivered to when you make an online purchase. Your billing address and your shipping address can be the same address but they are different sometimes. In some cases, when your billing address is different from your shipping address, additional verification might be needed for your online payment to go through. When you change your address, it is advisable to notify the bank and change your billing address.
READ ALSO: What is CVV number on a credit card?
Also, there is Address Verification System (AVS) which compares the numbers in the billing address entered during an online payment with the billing address your card issuer has on file. For example, your billing address is 12, Street Name, City, Nigeria, 23401, the AVS will compare the 12 in the address and the 23401 zip code with the billing address on file. This helps online merchants reduce fraud incidences.
We hope this information has been helpful to you. You can read some of our other posts for other helpful tips.
READ ALSO: How to pay DStv online in Nigeria