subject: Four Reasons To Consider Bin Look Up Services For Your Business [print this page] Bin look up services enable business owners to verify the credit card information that is being provided at checkout. Using the first six digits of the credit card number, prepaid credit card or debit card, the merchant is able to increase the security of the transaction by confirming the credit card number with the information of the account holder, reducing the instance of credit card fraud.
Five reasons that the merchant may want to consider Bin look up services include:
Bin look up services reduce credit card fraud through the confirmation that is given with each transaction. Using the information through the bank identification number the merchant is able to confirm the identity of the person that is using gift visa cards and other gift credit cards, prepaid credit cards and traditional credit cards, reducing the fraud that is becoming more and more common with the use of credit cards.
Bin look up services protects the business' reputation and can ensure that the previous customers of the business have had satisfactory dealing with the credit card transactions that have taken place. Using the look up services that are available, the merchant can provide excellent service and customers both old and new can ensure that the highest safety measures are being taken when it comes to credit cards being used.
Bin look up services reduce charge-backs that occur when fraudulent credit card information has been provided. Customers that have had their identity stolen or other information copied and used for unauthorized credit card transactions are refunded the cost of the transactions that were completed, in the case that they are able to prove the credit card transactions were not completed by them. In these cases, business are often out the funds and the merchandise that was purchased using the fraudulent credit card information, resulting in charge backs on the merchant account, that are accommodated with costly fees. Using the look up service with each credit card transaction can be an effective way to reduce the instance of these charge backs to the account, creating an effective way for merchants to protect themselves while completing credit card transactions.
Bin look up services protect the inventory of the business by reducing the vulnerability of the business to charge backs and other inconvenient fees. Using the services that are available through the bank identification number database systems online, business owners are taking a stance to not only protect themselves through the credit card transactions that are being completed - therefore protecting the assets of the business; but also taking measures to create stress free transactions through the day to day dealings and credit card acceptance of the business.
Using the services that are available through the bin look up database programs can allow the business owners to remain protected while completing common credit card transactions. Easily found online, the business owner can choose from several well-established databases, gaining access to thousands of bank identification numbers through bin look up services.
