How Online Bin Checker Can Help Your Business

If you have been in business for sometime, then you know that you should minimize risk at all costs

. It can come from direct or indirect sources, most likely indirect sources cannot be helped. But there are things like theft that can be prevented by taking security measures. Technology has brought another kind of thief through the internet. Customers can present you fake cards for use in payment knowing full well that you will never get paid. Transactions done by card therefore carry more risk.

To try and minimize risk, you should align your systems to Bank Identification Number (BIN) databases like Bin checker. This number is used to identify the issuing bank, credit card or travel company down to the country of origin. By having a database, they are able to easily pinpoint what card number is invalid. If you are able to verify a card, then you can bring down the number of charge backs from customers usually associated with credit cards. Credit card Bin Checker can easily track a card with fraudulent activity. It can even be able to identify what level a card is like: electron, business, classic, gold or platinum.

Before you decide to access and use a BIN database, you should be sure that they have a reliable pool of information. Such a database should have the input of the financial institutions that provide these cards and online selling companies. Let us take Bin Checker, Bin Checker database is made up of 130,000+ valid BINs .It is checked and updated daily to ensure it is not irrelevant. Fraudsters will sometimes steal card numbers and scan them onto their own. These cards can still be presented as genuine but if the company sends an alert, they are invalidated.

With Credit Card Bin Checker software, your systems will automatically be updated.

It is not only credit cards that are targeted, debit cards too. Debit cards are issued by banks to their customers to facilitate purchase payments. Verifying debit cards can be harder because it could be issued in another country. With Bin Checker Bank you can be able to identify where the card was issued and if it is valid. If for some reason you might have problems, Bin Checker bank can provide you with the bank's telephone number. Calling will even give you more information like the customer name and identification to compare with yours.

Common cards like American express and MasterCard have different levels for each and the higher the level, the higher the benefits. A fraudulent person might try to get benefits they are not entitled to. With Bin Checker MasterCard and Bin checker for American express, you can worry less because you will easily know authorized benefits without being an inconvenience. This way you will have a trial version and test it out to see how it can best suit your company's needs.

by: Gen Wright

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