subject: Bin Number List [print this page] A bin number list plays a very important role when a merchant seeks to protect themselves while operating in the online world. With many new cases of credit card fraud being reported, businesses are now looking for ways to protect themselves through use of a bin number list. Banks, processors and merchants all will do well to realize that a bin number list is there to help them ward off a fraudulent credit card attack.
How to curtail credit card fraud?
The authorities also have their hands full trying to curtail credit card fraud. Most fraudsters are those who have studied the methods employed by businesses today. They know how to make use of loopholes in order to perpetrate credit card frauds and other kinds of criminal acts.
Prevent fraudsters
A bin number list is a means that you can use in order to prevent a credit card fraud. When you next make a transaction - whether online or offline - fraudsters will try to use your credit card to defraud businesses, merchants, banks and others. Using a bin number list is one of the ways that you can prevent fraudsters from getting the better of you.
Not serious about curtailing credit card fraud?
To tackle this menace, a bin number list provides you with the means to act and stay safe. This is why every merchant, bank and business needs to make use of a bin number list. The trouble is that there are too many people that are not very serious about curtailing credit card fraud. They seldom believe that they are going to be affected and so do not give any importance to a bin number list.
Modern businesses are mainly concerned about selling a certain amount of their products or services. When some clever fraudsters manage to defraud the business, the latter wakes up and then start looking for a bin number list. But, by that time, they will have lost their money and perhaps some crucial information as well.
It makes sense therefore to make use of a bin number list as only it can provide information related to the credit card. This information will give the business a chance to verify the correctness of the credit card. Unless, the BIN database lookup shows that the credit card being used is genuine, it is wiser not to accept the credit card.
A Bin database is an exhaustive collection of records pertaining to credit cards of different types and of different brands. A bin number list is a very important tool. To make it even more effective, it is important to ensure that the BIN database that you are going to use is complete in every respect.
When a customer comes to buy from an online merchant, the latter must use a bin number list in order to find out whether the card is genuine. Whether the customer presents a credit card, debit card, prepaid card or a gift card, a bin number list can help reveal the validity of the card being used.
As soon as the card is swiped at the merchant's site, the Bin number list will show you the name of the issuer of the credit card and other information related to the card. With this information, any merchant can check and validate the credit card. If the card is genuine, then they can complete the transaction; otherwise, they can reject the card and save themselves a lot of needless bother.
