BIN stands for Bank Identification Number. It refers specifically to the first six digits that appear at the beginning of every bankcard. While the final string of digits are assigned by the bank itself, the first six are codified according to an international standard and used to identify the bank that issued the card, as well as information about what kind of card it is. In simple terms, a BIN checker database is a large compilation of these numbers.
A BIN checker is a program or website that automatically checks any BIN you input. It tells you if it's a legitimate BIN used on currently active cards. Each BIN checker listing also contains cards details such as brand, type and level. If your customer claimed the card was a personal Visa gold card, and the BIN checker database says that that number actually belongs to a commercial premium MasterCard, and then you should refuse to accept the charge. Obviously, that person has a number but no card. Another sign of trouble is, when the BIN information says the U.S.A., but the mailing address you have given is in Thailand somewhere.
BIN checker benefits are extensive. Not only can you watch out for suspicious transactions, you can tailor your business the way you want to, accepting only the sorts of bank cards from the sorts of banks that you want. Otherwise, every number is just a meaningless stream. BIN checker software unlocks that code for you. Now you can instantly identify cards that are going to cost you more in processing fees, and add an extra charge for your customer. You'll know who's using a debit card, who's using a credit card, and who's using a prepaid or gift card. Many businesses avoid prepaid altogether because they have a reputation for being associated with fraud.
Automatically block credit cards issued from banks in countries you can't legally ship goods to. Shut out poor performing or unreliable banks. With the current fragile state of global economics, you may not trust the ability of some county's banks to pay you. Whatever your needs, there is a BIN checker program designed to help you use BIN checker database information effectively.
The basic reason why companies compile, and other companies purchase, a BIN checker database is because of credit card theft and fraud. This is a pressing problem, and requires the resources, which only BIN checker software can provide. If you do not want to be stuck with the loss of goods on a regular basis when credit card companies refuse to pay for illegal use of a card, then you should look into a website.
You will be pleased and impressed with all the useful information you get from a BIN checker list. Look for an extensive database that includes all the primary credit card brands, and which updates their files regularly. No list contains 100 percent of current BINs, but it should be as nearly comprehensive as possible. Check our website for a good example of BIN checker benefits.Article Source: you are aware of the importance of binchecker database. To assess the quality of data, try bin checker database online.
