Credit Card Bin Numbers- Who Needs Them?

In the world of business, credit card BIN numbers are starting to become extremely popular

. Every business, whether online or offline should have access to a BIN database. They are one of the best weapons against fraud and the good news is that they aren't overly expensive. With some, you will need to continue to pay for on a monthly basis, while other you will need to just pay a one off fee.

Credit Card BIN Numbers: What Are They?

If you're wondering just how credit card BIN numbers can help your business to fight back at fraud then the answer is because it flags any potential fraudulent transactions. You scan the first six numbers that appear on the card and the database will tell you all about that card. Who it belongs to, where it was issued and the name of the issuer are all things that you will find out. This information then helps you to contact the owner of the card if you suspect that there's a problem.

Many people don't realise that their cards can tell a merchant so much about them. If you're worried that the merchant might be able to get your address then you can feel comfort in the fact that most will not give too many details away. They may say what country the card is issued to and what the postcode is, but they will not always give your actual address. You can double check this on a free BIN number database. Type in the first six numbers that are printed in the middle of the card and see what information comes up. You may want to check a few different databases as they do tend to differ.

Is it Just Businesses Who Benefit from Credit Card BIN Numbers?

Credit card BIN numbers are mainly associated with businesses. This is because they are mainly designed to help businesses to counteract fraud. However, there are some occasions where credit card BIN numbers might come in useful for consumers too.

You can download a free BIN number list and use it to see whether your details are correct. Or perhaps you sell things online occasionally but you aren't actually a business? If so you may want to make use of a manual, free BIN number database to check that payments are genuine.

However, the majority of the time a BIN list is designed to be used by businesses. They are not typically used by members of the public. That doesn't mean to say that consumers don't benefit from BIN numbers. If a business uses credit card BIN numbers searches, they are protecting their customer's privacy and showing that they actually care. This helps the consumer and you can relax knowing that businesses do have your best interests at heart.

All in all, credit card BIN numbers are really useful in the detection and prevention of fraud. Why not look into the benefits of BIN numbers today? You may just be surprised how affordable a BIN database actually is.

by: Gen Wright

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