Understanding The Information Provided By Bin Lists

Once you've made the decision to use a BIN list for your business

, you may be a little confused as to how you are supposed to use them. How exactly do they work and what do you have to do? It can be confusing working out how to make the most of BIN lists. Here you should find the information that you need to help you work it out.

How BIN Lists Work

There are a few different types of BIN lists that you can choose from. The first is the manual type where you input the numbers manually. The second is an automatic BIN list checker. This is more convenient and easier, but it can be much harder to implement into your business. You need to run a script so that the BIN list knows when to decline transactions and when to let them through.

Before you buy a BIN list checker, it could be a good idea to try them out first. Look at various BIN list demos you can find online. You get to search for up to 15 BIN numbers every day. This will show you how a manual BIN list lookup actually works. You'll need to type in the first six numbers that are written on the front of the credit/debit card. The numbers are found in the middle of the card.

Once you've typed in these numbers, information will be shown about the card. The actual information that is displayed will vary depending upon the database that you are using. From this information that is given to you, you can then decide whether or not the transaction seems genuine.

Finding the Right BIN List for You

When looking for BIN lists there are some things that you need to take into consideration. The following factors should be looked into:

How large is your business?

Do you run an offline or online store?

What features are you mainly interested in?

One thing that you need to know about BIN lists is the fact that each list is different from the next. While obviously a lot of the numbers will be the same, the features that come included with BIN lists will differ. This means that you should take your time to research the different lists available. Look at all of the features that are provided and make sure that you read the small print too. You can never be too careful when choosing anti-fraud software.

The size of your business will make a difference to the BIN list that you should settle with. If you run a big, busy business, it would be a good idea to invest in an advanced BIN list. That way you know that you are getting the best possible protection on a daily basis. Finally whether you run an online or an offline store will also contribute to which software you should invest in. Some are only designed to be used online. These are just some of the things that you need to think about before choosing the right BIN list software to suit your needs.

by: Gen Wright

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