The Bin Lookup Service
The BIN lookup service is ever expanding and rapidly turning into the foundation
of risk management assessment among large corporations, small mom and pop businesses and home-based businesses all over the country.
And the thing is - you can't help credit card fraud and most every business will - at some point in time - come up against some kind of credit card fraud.
When the Internet seemed to be taking the world by storm, crooks and thieves were excising every loophole they could find and merchant account holders had little recourse. That was...until now.
You see a BIN lookup database has been created to give the financial world some relief when it comes to identity theft.
Consumers are already protected. But merchant account holders are left holding the bag after processing a fraudulent transaction.
In order to do a credit, prepaid, gift or debit BIN lookup all you need is the first six digits on the front of the card. No card is without one. This means that each and every transaction you process will have a BIN number.
As a merchant account holder, you have every right to check firsthand the validity of any card you process. You can easily do a BIN lookup by Visa. Or you can use the BIN lookup service to check out a MasterCard, American Express Card, Discover Card or even fuel card if you need too.
Straightaway to combat this ever-growing threat, your business requires the mightiness of a dependable BIN lookup service.
BIN numbers link the cardholder to a specific institution. For example: all Visa cards start with the number 4 and all MasterCards start with the number 5. Ever institution has an assigned number to identity it during an electronic transaction.
As you probably already know, merchant account holders wind up footing the bill for charge-backs whenever a fraudulent transaction occurs.
So having access to BIN number lookup credit card data can cut out many of these fees. You can run card's BIN number directly through a BIN lookup service and verify it before processing a transaction.
With this measure, the power is placed back in your hands and the scammers are left without a leg to stand out. Here's what you get when you perform a BIN lookup credit cards service:
Instant access to a list of BIN lookup bank identification numbers
Explore details on a credit cards issuing bank
Look into the card's actual funding type like prepaid, gift, debit and of course credit
Confirm a particular card number subtype which could be business, ATM only, classic, gold, or electron
Easily validate the card brand such as Discover, Visa, American Express Diners Club or MasterCard
Card specifics that may include the country of origination, physical address of the bank, or bank telephone number
There are a few demo services that allow you to do a BIN lookup free of charge. This will give you a clear picture of how the service works and how you can integrate the tool into your business.
by: Gen Wright
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