Raise The Bar And Access The Power Of The Credit Card Bin

You probably have a ton of questions about the credit card BIN and how it can improve and better the way you handle online transactions

. It has become a tried and true method among financial sectors in every corner of the world.

The word is out and businesses are taking simple credit card BIN software and stopping fraudulent transactions from processing. When all is said and done, you will find that accessing a credit card BIN database can turn out to be one of the smartest business decisions you have ever made.

The first step in making the credit card BIN process work for you is getting the inside scoop what it is. All credit cards, charge cards, prepaid debit cards, and bank debit cards all have a bank identification number. The BIN is located on the front of the card and is the first six digits of the card.

The role of the credit card BIN # is to identify the network and financial institution the card belongs to. What's more, the credit card BIN number provides details about the country that has issued the card, the card type and card category.

Often times BIN Numbers are called IIN numbers or Issuers Identification Number. The reason being is that industries outside the financial industry are taking advantage of this system.

Just underneath the 16 digit card number is the first four digits of the BIN. It's is usually embossed and added as an extra measure of security.

Credit card BIN ranges vary based on the institution that is backing the card. For instance, as you begin the credit card BIN validation you will discover that all MasterCards, including debit MasterCards begin with the number 5.

All Visa and Visa Debits cards begin with the number 4. The credit card BIN range helps the database determine its details.

These numbers are not available to the general public. Basically you will have to purchase a universal or single user license to perform searches or use the credit card BIN verifier.

The American Bankers Associate or ABA updates the IIN database and membership on a month-to-month basis. Also, the ABA is the issuing authority for credit card BIN ranges. As a reminder is a list of the ranges for different credit, travel, bank, and entertainment cards:

The number 4 is for VISA cards.

The numbers 51-55 are only for MasterCard's.

The numbers 36 or 38 are set aside for Diners Club cards.

The numbers 6011 or 65 are earmarked for all Discover cards.

The numbers 34 or 37 are reserved for American Express (AMEX) cards.

The number 35 is allocated only to JCB.

Surprisingly enough, online there are several providers who offer business owners a credit card BIN number list. However, it's important to note that features and benefits vary.

Each provider bears the responsibility for maintaining their database. It is vitally important that you find out how frequently a BIN database is updated before you buy a license.

by: Gen Wright

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