Controlling The Flow Of Fraud By Utilizing A Bin Visa

Any time that a business uses a credit card option to perform online transactions

, they put themselves at risk of becoming another statistical victim of fraud. The direct method of reducing this, especially when dealing with a specific brand of credit card such as Visa is to use a bin Visa checker.

The bin Visa number is really a simple predesigned option to verify credit, debit and other type of electronic money cards. The bin Visa will tell you all of the details about the specific Visa card. The bank associated with the card is usually the most important piece of information as it can be verified to actually exist. Any time a bin Visa service is used to check the card it is required to reveal the information that is available. If there is no information available for the specific card then there is a high chance that the bin Visa never existed or recently dissolved. It is very important to deal with the possibility of fraud head on to reduce your liability.

Fraud Liability is Ridiculous When a Bin Visa is not used

The card processing services are always out to make money not only by taking the processing fees and membership requirements to allow you to accept credit cards, but it will attempt to hit you hard with each attempt to run a fake number. Some processing services generally understand and will not take an extra fee simply because the process could not be completed. Unfortunately there is a high number of these fake numbers and some stolen numbers that make their way through the verification. After the problem has been found the charges will usually be reversed leaving you without the product, without the money you made and without the money from the fee your received for attempting to run a fake card number. This doesn't begin to cover what it costs if you receive a chargeback request by an unhappy consumer or from someone who has had their card stolen or information logged.

Controlling Liability with a Bin Visa

The simple solution will always be to prevent the problem from ever occurring. With a bin Visa checking service, you can easily take the time to go through and verify charges manually to understand whether or not they pass the bank check stage. By entering the bin number, you can verify the bank status and accept a card based on that alone. Taking the bin Visa services a step further you can actually compare the billing information to the actual account holder information as well as the shipping information. So if the bin Visa report suggests that the person making the purchase is someone else other than the original card holder. Of course there is a few ways to verify this over the phone with the consumer or with the credit card issuer.

Any numbers that are declined through the initial bank check can be discarded and the numbers thrown out as they will not serve any purpose. Fortunately the software options for bin Visa can make it simple to flag numbers that are not easy to deal with and have been proven fraudulent for future reference.

by: Gen Wright

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