Manage Credit Card Processing Risk With Bin Lookup

All businesses are going online nowadays; that is where most of the market is anyway

. As a company, you cannot afford to be left behind. You cannot also afford to be cheated on the internet. Going to the internet means you are going to trade with foreigners from countries you have never heard about sometimes. These are people who will issue credit cards that you will be expected to accept as means of payment. Unless you are savvy yourself, you might easily be conned.

The good thing is that all banks and financial institutions have an internationally identifiable number which appears on credit or debit cards. You can easily determine the origin of a card by using the first six digits of the card number. This numbers are called Bank Identification Number (BIN), this is valuable information when trading internationally. But what use will it be if you do not know what to do with it.

A Bin lookup service will use this information to determine if the card number you have just been presented with is genuine. Our bin lookup service also includes debit bin look up, you can use this for those times when someone pays you using a debit card. The beauty about this card is that it will identify the issuing bank and even give a telephone number for you to get the identity of the card owner. As you can see, there is no way you will be cheated, even by a foreigner.

Our bin lookup software conforms to the highest standards of bin lookup. We ensure that each spelling is done correctly, and even allow for variations, because we know that sometimes spelling errors are inevitable. By taking care of this aspect, we ensure that all the details of the card like name, bank and country will be matched accurately. We also have bin lookup American Express, bin lookup MasterCard and bin lookup Visa.

All these cards come with their own subtypes and would be hard to track. Our bin lookup software will narrow down your bin lookup to each category and subtype. By doing this, you will know what to charge where and what specifically to use for a particular transaction. A lot of card fraud involves identity card theft, and as a trader you will not know this until a customer complains. By having specific software for a certain card company, you ensure you have all the vital information to determine who the individual card holder is.

By having a bin lookup database, you can be able to determine if a card has been used for suspicious transactions and as such protect yourself. You can also protect yourself from banks that have a tendency not to honor payments. With bin lookup, you can have this kind of information by probably declining some cards. In effect you can streamline your business needs accordingly. Bin lookup is a great addition to your company; it will protect you from losses from fraudulent customers and shady financial institutions.

by: Gen Wright

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