subject: How To Choose A Bin Database Lookup Service [print this page] Maintaining safe credit card transactions is essential, regardless the size of the business. One of the most effective ways that the business owner can ensure that credit card transactions remain safe is to take advantage of services that verify the validity of the credit card, using the first six digits of the card (referred to as the bank identification number).
To verify the credit card, business owners can use Bin Database Lookup services. These services enable the business owner to enter the first six digits of the card and verify the information being entered into the credit card transactions, reducing the instance of fraudulent transactions and reducing the amount of charge backs to the business owner from the credit card company.
Some of the things that the business owner should consider when choosing a Bin Database Lookup service include:
Cost of the Bin Database Lookup Service
Though there are free services available for business owners to confirm the bank identification number of the card, paid services are considered to be more reliable. The cost of the services can range in price between several hundred and one thousand dollars, depending on the type of service, the amount of the numbers that can be checked and the length of the subscription time. Considering the cost of the service, through subscription, on a monthly basis, ensures that the best price is going to be found.
How often is the Bin Database Lookup Service Updated?
Choosing a service that is updated regularly can be an effective way to ensure that the credit card processing systems are going to remain as secure as possible. Choose databases that are updated with the latest in BIN numbers regularly to reduce the instance of fraud and to protect the customer completing the transaction through the business.
The Length of the Bin Database Lookup Subscription
The length of the subscription depends on the preference of the business owner. Some subscriptions are available for one month, six months or as long as a year. The length of the subscription is affected by the price in most cases, with companies offering Bin Database Lookup services reducing the price for business owners that have signed on for a longer length of the contract, or offering promotions to reduce the price for longer lengths of time. Consider the length of the subscription with the transactions that are going to be processed, the projected time frame for the business to be active - and even the budget for the business.
The Reputation of the Bin Database Lookup Company
The business owner should consider the reputation of the company when making the decision. It's important to consider reviews from other business owners, the amount of time between updates and the general level of customer service that is provided from the company to business owners.
Using these aspects, business owners can choose the right database lookup service that is going to suit their needs as a company, providing protection for both the customer and themselves.
