Protect Your Business From Chargebacks With Bin Lookup Service

The BIN number lookup credit card database or issuer identification number database

are both the same and extremely important for merchants, who mainly receive payments from customers through online card transactions. Nowadays, though BIN lookup system is presently referred to as IIN lookup system, but the meaning remains the same. When consumers make payments by means of their credit or debit cards at retail outlets, there is a system, which continuous tracks the entire card processing method. This system is known as the BIN lookup database.

Now, you might question how in reality BIN lookup system functions? Well, BIN lookup table functions in this way, when you take delivery of a debit or credit card, you will find that your card includes a series of numeral digits on the front. The initial 6 digits, which you will find on your card is called the IIN or BIN numbers. These particular numbers are of great significance, since they allow the BIN lookup online database to find out from where your card was originally issued. This helps to improve networking since it permits your card payment transaction to be finished quite swiftly.

Excluding the first six numbers, the remaining numbers, which feature on your debit or credit card, are known as card identification number. The BIN lookup software or IIN lookup software makes it difficult for card fraudsters to carry out card scam.

Prior to the advent of the BIN lookup system, it was quite easy for card fraudsters to commit credit card crimes. This was mainly possible because the credit card processing system previously was not so advanced and it was not able to instantly access the data from the card issuer.

At the present time, owing to the availability of the BIN lookup database, merchants and companies, possess the power to monitor each and every debit or credit card transactions much quicker than before. In case a card is registered stolen or lost, the BIN number lookup system will hold back the processing of that particular card, thus practically reducing the chances of the card being used wrongly for purchases.

So, in short, the BIN lookup table is a place where one can search for relevant information about a card by merely typing in the first 6 numbers situated on the front of the card. It is completely lawful, since you will not be able to carry out any kind of card fraud by means of only the first 6 numbers of a debit or credit card. The IIN or BIN lookup procedure is used simply for finding out the name of issuer of debit or credit card, which is being searched for. To search for a specific card, you require carrying out a BIN lookup issuer search. For this, you simply need to type in a card's initial 6 digits and the IIN or BIN lookup system will supply you with vital data like the card issuer's details, the card category and a telephone number for the card organization.

The BIN lookup service is extremely helpful, especially for online merchants, since it gives you a broad idea about a particular card, which is being processed, but not sufficient data to commit card fraud.

by: Gen Wright

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