subject: Bin Lookup Services And Other Methods To Prevent Credit Card Fraud [print this page] Credit card fraud comes with a large expense for business owners. Taking measures to avoid fraudulent charges can help the business owner to save the budget and prepare the business to reduce the instance of financial losses.
Here are some of the ways that business owners can reduce the instance of fraud in their business:
Use bin lookup services
Bin lookup services are available for business owners searching for a way to verify the credit card transactions that are being performed through the business both through traditional and online transactions. Lookup services can be purchased through subscription based services from online database services or can be found through free online services. Available for all types of credit cards including gift credit cards, prepaid credit cards and even traditional cards as well as debit cards and other types of electronic tender, the bin lookup services enable the business owner to reduce the instance of fraud by confirming the information of the account holder.
Confirm the IP Address for Online Purchases
Online purchases that are made with a credit card are tracked through the IP address of the computer that is being used to complete the transaction. Confirming the IP address of the customer making the purchase can be an effective way to determine whether the area is flagged as high-risk and can use additional security measures to ensure that the credit card transaction taking place is not fraudulent and is not going to be charged back to the credit card company, resulting in fees for the business owner.
There are certain high risk areas of the world that have become known for credit card fraud and learning to identify these areas of the world as well as track the IP address to compare with other features of the transaction can be an effective way to combat credit card fraud and reduce the risk of credit card fraud affecting the new business.
Track Email Addresses
In addition to the Binlookup credit card services that are used to verify the credit card that is being used to complete the transaction; the business owner should use security measures that are designed to track the email address being used to complete the transaction. Checking for free email addresses, anonymous email addresses and even email addresses that originate from known locations for high activity of credit card fraud can be an effective way for the business owner to increase the level of protection while processing the credit card accounts.
Using these methods to track the credit card transactions that are taking place, especially using the Binlookup services that are available, as the business owner is able to confirm all of the features of the credit card holder's account, including the physical address, the registered owner of the credit card, the IP address of the location where the transaction has been initiated and the type of email address that is being used to complete the transaction online. Altogether, the business owner can increase the level of protection and reduce credit card fraud from occurring.
