Checking Large Lists Of Credit Cards With A Bin Checker
If your business has started picking up and there are now several electronic transactions pending
, you need to make sure that these are all legitimate charges being made before you can accept them. One of the major drawbacks in some systems of electronic funds transfers is the fact that the charge will take time to process. In that time, the business could actually have the product ready to transfer or service ready to pass on to the customer before their money has actually cleared. In some instances this could actually be used against these businesses by using a fake or illegitimate card number to process the order.
Reducing the Chances of Being Duped with a Bin Checker
A bin checker is the tool to use whenever there is any number of credit card numbers that need to be verified. This is actually the best option in preventing fraud and excess charges from the card processing services that your business may use. The bin checker only requires a few bits of information to run the verification and that is the first six numbers of the card. This is not an account number, as the bin checker is designed to check and verify if the bank that issued the card actually exists. This increases the chances of the card being legitimately owned by the buyer if the bin checker actually serves up information about the card.
Whenever a bin checker service is used and one of the bin numbers is rejected by the system, it is a clear sign to skip that sale and deal with the loss. If the customer wonders why their card is rejected, you can verify with the bank or even the brand of the card to ensure that the account really exists. The contact information for both the buyer and the card issuer will be provided if they actually exist.
In some instances the bin checker will display that there is no such bin number in the registry. In this event, the bin checker should be trusted to deny the charge and have an investigation on why the bin number was not accepted. The bin checker may just need to be updated with new bin numbers but this is very unlikely as the bin number would have been deployed to the bin checker services well in advance before card customers were to have access to their card numbers.
An online bin checker takes only minutes to set up and use with your list of credit card numbers to verify. By entering the first six digits from every card into the search, the verification of the bank and issuer of the card will be performed. This simple bin checker process allows your business to ensure that fewer fraud attempts actually get through screening. The bin checker is a tool which can bring the costs of operating electronically down while saving your business money. This type of situation can always be made better with advanced tools such as the bin checker.