subject: The Utility Of Bin Database To Help Eradicate Credit Card Fraud [print this page] What is bin database? What is bin database?
The first and foremost question that pops into someone's mind in this regard is the actual use of the bin database. There are a lot of people who have turned out to be successful webmasters, owning very successful websites that trade in a lot of goods. Such people have been in the limelight due to the fact that they have been securing their website from all sorts of frauds and chargebacks from their sales. This can only be done with the introduction of the bin database, which is an essential and vital part of the entire website. The bin database or the Bank Identification Number happens to be the unique number that is assigned to each and every credit card, and you would find that the number of credit cards that you use would all have the bank identification number embossed in it.
The use of bin database:
When people go and purchase a product from any e-commerce web store, they make the purchase with the help of credit card. Now, there is a huge scam wherein the people have been forced to reveal their secure password along with the credit card information by the hackers. The hackers then use the same details in order to make purchases from the credit card and procure products from that website. When the original owner gets to know about this purchase, they would through their bank, issue a chargeback, which can hamper the reputation of that website. A lot of chargebacks can permanently damage the reputation of that website and you would find that this is a circumstance that is not wanted by any webmaster. In order to prevent such a thing from happening, there is the use of bin database. The bin database is a database of the bank identification numbers that have been in the circulation by the major credit card companies, and you, as a successful or a budding webmaster, must procure the bin database so as to ensure that you can keep yourself armed against such invasion in your domain.
Facility of the bin database:-
When you introduce the bin database to your website, then each and every credit card transaction that is done in the website would be accounted for, and you would be able to get the required amount of information that is needed to keep the hacker at bay. When a credit card transaction is done, then the bin database is consulted so that the credit card information that is given in the bin database is matching with the data entered by that person. Any sort of mismatch with the bin database, and it would be a prudent thing on your behalf to alert the authorities about this particular transaction and stop the entire process mid-way. You should always keep the latest bin database and procure them by paying money, so that you are always updated and alert, so as to keep the hackers lacking any sort of advantage from your website.
