subject: How Much Does A Bindatabase System Cost? [print this page] Every debit card, credit card and prepaid credit card is equipped with a security function that is referred to as the bank identification number. This bank identification number, or BIN as it is commonly referred, helps to reduce the instance of credit card fraud by using the BIN number to verify the information of the account holder.
How Much does a BinDatabase System cost?
Bin Database systems are available through multiple companies offering access to online programs where business owners can get access to databases that are updated regularly, access to databases for every bank and financial institution and access to bank identification numbers for credit cards, prepaid credit cards and debit cards.
The systems that are available to business owners can range in price between several hundred, upwards of one thousand dollars for access to the system that includes unlimited search and verification of the credit cards that are being used to verify the transactions that are being completed.
Purchasing a subscription for the BINDatabase system can help to save on the cost of securing the credit card transactions. These subscriptions can be purchased for one month, six months or one year - and the longer the subscription has been purchased the lower the cost of the subscription.
What's included in the BINDatabase system?
Included in the system is access to the bank identification numbers for the local and national banks, allowing the business owner to create secure transactions with credit cards, debit cards and even prepaid credit cards. These databases are updated on a regular basis to ensure that the up to date information is going to create secure transactions for the customer, increasing the reputation of the business and secure transactions for the business owner to reduce the costs associated with charge backs on the credit cards being used to process the transactions.
Is the BinDatabase System worth the cost?
Though expensive, the BINDatabase costs are a one-time fee for customers that have chosen the subscription for an extended period of time - reducing the costs of running the business and creating secure credit card transactions for the business. The expense can reduce the costs of fraudulent charges, charge backs to the customer from the credit card company and the fees that are associated with these events.
Ensuring protection for the credit card transactions that are completed can be priceless - something that every business owner should consider that has chosen to accept credit card transactions for the services that are being rendered or the products that are being sold by the business. Business owners can use the database system to verify the credit card transactions that are taking place with as little as internet connection. Creating safe credit card transactions for the customers can be an effective way to create a positive reputation as a business throughout the local community as well as online - increasing the customer base with the positive reputation. Whether a one-time cost or a monthly subscription, the cost is worth it for business owners to remain safe.
