How Does A Card Bin Search Function For Prepaid Credit Cards?

Prepaid credit cards are becoming more and more popular with customers that are trying to protect their financial information while shopping online

. Unfortunately, that's not the only customer that the cards are becoming popular with - as the prepaid credit cards are becoming commonly used to complete instances of credit card fraud while shopping online, and in-store.

A method that many business owners are turning to in hopes of reducing the instance of credit card fraud are card bin search databases, that provide the merchant or business owner with detailed information regarding the type of credit card, issuer of the credit card, brand of the credit card and even issuing country - all to verify the information being presented and catch credit card fraud before it poses a problem for the business owner.

Every credit card has six digits to begin the credit card number. It is these six digits that can be entered into a database, automatically when credit card transactions are completed through the e-commerce system or entered manually by the business owner through the online card bin search databases that are available. Entering these six digits into the database system can allow the merchant to further inspect the transaction ensuring that the details of the card match the details that have been provided with the credit card transaction at the business, enabling the business owner to determine whether to accept or decline the card that has been presented for the transaction.

How does the card bin search protect merchants for prepaid credit cards?

With the increase in credit card fraud occurring using prepaid credit cards, more and more business owners are becoming weary of accepting the popular form of payment through their online business. Prepaid credit cards are commonly used through instances of credit card fraud - and therefore are becoming transactions that are considered closely by business owners.

Once the business owner enters the bank identification number into their system, or the system determines that a credit card that falls under the prepaid category is being used, the transaction will often become flagged and require manual approval from the business owner. This information is available through the many database systems offered through comprehensive listings online, in addition to the merchant being able to determine the type of prepaid card, category of the card and even the issuing country of the prepaid credit card.

Using the information that has been presented, the business owner can determine whether the information listed on the credit card matches the information that has been displayed through the card bin search and determine whether an approval is going to be granted.

To gain access to this valuable information, merchants are able to subscribe to the database systems that are available online. Constantly updated, these database systems ensure that the merchant is going to remain protected from common types of credit card fraud and the fees and costs that come along with being a victim of credit card scams.

by: Gen Wright

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