Deter Fraudsters With Bin List Software

While fraud is quite a big problem these days

, there are ways in which it can be prevented. How many times have you seen advertisements aimed at consumers on how they can stop themselves from becoming a victim of fraud? There is so much information available to consumers, but yet businesses are often left out in the cold.

Businesses are often hit hardest by fraudulent transactions. This is because while measures have been taken to protect consumers and to ensure that they get their money back, no similar measures have been taken for businesses. As businesses are seen to be making lots of money, it is often assumed that they can take a few hits when it comes to fraudulent transactions. However, as many businesses as sadly found out, fraudulent transactions can cause them to lose their business in the long term.

The Effects of Fraud on a Business

Fraudulent transactions very frequently lead to charge back fees. When the credit or debit card company wants to give the consumer their money back, they tend to take the money from the business where the transaction was made. The money is put back into the customer account and the business is left out of pocket. You won't always receive the goods back that have been taken. Therefore this leaves you without the goods and without the money that was used to pay for them. Over time this can become a big problem.

Many businesses have even been forced to put up their prices to make up for losses caused through fraud. This will upset your customers and cause them to potentially shop elsewhere. That is why investing in BIN list software is ideal. It could save you a lot of heartache and money!

BIN List Software - Where Can you find It?

You should find that BIN list software is actually pretty easy to find. You simply have to do a quick search in a popular search engine such as Google, and you'll be presented with a large list of results.

There will be a range of free and paid BIN lists available. You can find BIN range lists online which tell you what numbers relate to which cards. Each card type has its own set of numbers associated with it. The first 2 digits on your credit card are the ones which tell a merchant whether the card is a Visa, MasterCard or any other type of card.

When looking for BIN list software, try to look out for specific features. Is there anything that you need the software to include? Perhaps you would like to be able to do more than 10-15 searches each day? If so then you'll need to opt for paid BIN lists. Or perhaps you want a BIN list that can work automatically through a script? This makes life much simpler when you don't have the time to manually check every credit card number that is used throughout the day. All in all, BIN list software can really help you to combat fraud and protect your assets.

by: Gen Wright

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