Why Take The Blame For Fraudulent Transactions? Make Use Of Bank Bin Numbers

When you run a business, it's important to make sure that your customers feel safe as they shop with you

. They need to know that their details will be kept confidential and that you are taking relevant precautions against fraud. A good way to show your customers that you care about them as well as your business is to install a bank BIN number database.

What is a Bank BIN Numbers Database?

A bank BIN number database is a collection of numbers that are connected to different credit cards. When a card is out through the system, the first six numbers are checked and matched against the records in the database. The merchant will then have access to various information compiled about that card. The information could include:

Who the card was issued from

The country it's registered to

The type of funding it offers

The type of card that it is

Contact details for the owner of the card.

You may not realise it but BIN is now better known as IIN, or Issuer Identification Number. All bank BIN number lookup software connect to the same database. It's worth noting however that some bank BIN databases are kept more up to date than others. Therefore it's important to compare a few different ones before you make the decision of which one to invest in.

When you have a database installed on your computer, it can help to detect potential fraud. For example, it will highlight a transaction if the country the card is being used in clashes with the customer address details. You can set the database so that it recognises this type of error and automatically rejects the transaction.

How many times have you shopped online and found that the transaction has been declined? Even when you have enough money you will sometimes be declined the transaction. This is likely to be caused by a bank BIN number lists which flag your transaction as potentially fraudulent. It is the best way to protect your business against fraudulent transactions.

One important thing that many people aren't aware of is the fact that the database that you are linked to isn't office. Only the government and issuers of plastic cards can view the actual registry. It is not available to the general public. What you are actually getting with a bank BIN number list is a database which has been compiled by the public and various organisations for the public. The details are still correct, but there may be some that are missing.

You can go on various websites online and add numbers to a database if they aren't found. This will help to widen the list and help to further combat fraud. It makes sense that businesses protect their company. There's no better way to do so than with bank BIN numbers. Look at the different databases on offer and see which one you feel the most comfortable using. Having bank BIN numbers software is such a small price to pay for protecting your business.

by: Gen Wright

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