What Do You Understand About Card Bin Number

Card bin number is referred to as all the first six digits in all types of credit cards and they are known as issuer identification digits

. The total number on the card is 16 digits but the first six is referred to as bin number of the card. This is the number that will tell you the bank that issued it if it were to be checked from the bin identification numbers databases. Card bin number form a special database that is managed and as well given monthly update with the help of the banking group American Bankers Association. In fact, the e-commerce makes use of card bin number database to verify their online transaction's validity.

SOME FUNCTIONS OF CARD BIN NUMBER

Card bin number is purposely manufactured for certain reasons which are highly beneficial to both the users and the producers. The digits of the card bin number offer identification which is used as code for the bank that issued the card and the country where it was issued from. Also, it helps to give the confirmation of the type of card that is been used for the particular transaction. With the help of the updated card bin number database, you will be able to identify and as well work against the online fraudulent transactions. From online, you will be able to execute the authenticity of the card bin number anytime a credit, prepaid or debit card is inserted in the card machine. Card bin number helps to activate cross checking process which is used on the card for any transaction. This helps you to detect any suspicious transactions. In case the card bin number is fraudulent, the card will be rejected and thereby the transaction payment used the card bin number for at that particular moment will not be effective.

CARD BIN NUMBER BENEFITS

A lot of benefits could be derived from card bin number in the sense that it can be customize in order to suit your need. You can also integrate card bin number checker to your own demands and requirements. This enables you to block any bank with poor performance. Card bin number enables you to set limitation preference on countries and merchants in order to reduce frauds in online transactions. Card bin number can also be used for different fee charging and are necessarily used for the cards which are normally produced outside the country which involves additional fees on the credit card bin number for the non-resident in the exchange rates. Even some merchants even charge more fees on the card bin number used for business purpose more than those used for personal. If you are a merchant that is highly effective in the offline and online transaction, it is very good to apply a card bin number database service that will permit you to verify your business transactions with safety. This will help you avoid the worries that may arise on frauds and scams.

Finally, as the entire world is moving to global village, card bin number will be more useful even more than before.

by: Gen Wright

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