Reasons For Using A Bin Number Lookup

In the world of business management, it is very important for you to know your rights and responsibilities, as well as the ways to protect yourself

. In these times the most common mean of payment is the use of the plastic credit or debit cards. Because the use of money is now largely avoided, the risk of fraud attempts has increase exponentially. By using a bin number lookup you should increase the safety of your business, whether it is an online one or a traditional one.

What are the advantages of using a bin number lookup service?

By using a bin number lookup, you can find out what type of credit or debit card your clients are using. In this manner, you can avoid being charged a really big fee for the transaction. If you don't use a bin number lookup service and you aren't careful about the chargeback fees that you pay you might end up with a history full of credit card frauds that will end up in closing your account. Another good thing about the bin number lookup is that it will reveal useful information about your customer's transactional habits. With the help of a bin number lookup, you will be able to find out if he is the rightful owner of the card, if his identity verifies and if he is allowed to perform transactions with that card.

What are the disadvantages of using a bin number lookup service?

When dealing with large numbers of customers, you might find out that bin number lookout services restrict their use to a certain daily amount. But you should know that not everyone that wants to purchase a service or an object from you should be checked with the bin number lookup. You could limit your query to those who raise suspicion. However, if you want to use the bin number lookup more times than permitted, you could try a virtual private network service.

How much will it cost me to use a bin number lookup service?

The prices for the bin number lookup software vary from provider to provider. You should search and see which bin number lookup service best fits your needs. Make sure they can offer you a free trial at first and check if it gives you the results that you are looking for. However, you should know that a cheap bin number lookup software is not always the best one, for a more expensive one could offer you a larger and better documented database. You should also know that the bin number lookup service providers charge you a monthly or a daily fixed fee, regardless of the number of times you use their software.

Make sure to always keep in mind the best interest of you business. By using a bin number lookup, you can rest assured that you only have quality clients, regarding their credit card or debit card histories. Also, the risk of fraud will be really diminished and you will be in control of every customer that uses your services or products.

by: Gen Wright

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