subject: Using Binlist Is A Service Of Trust [print this page] In order for an online business to have as many clients as possible, it needs to have a solid foundation of trust, especially when involving online transactions through credit cards, debit cards, and charge cards. Using a binlist only indicates that you, as a business, respect and show importance in the confidence that customers place in the company. Therefore, it is necessary that a binlist is used to assure the financial safety and security of clients, particularly those that frequently does transactions online. The use of a binlist can put the reputation of a business on the line, especially if it relates to financial services.
Absence of a Binlist Can Abuse Trust
Trust is one of the most used tools in creating a diversion that can steal credit card information from customers. With the creation of a fake email, clients will think that the attempt to take credit card details is for the sake of updating databases, improving customer experience, and more. Although the means of taking away data is a bit harsh, a binlist can counteract this attack by employing questions that cannot be disclosed in many places. Even stolen data cannot suit the demands of a binlist that confirms the identity of the account owner.
A Binlist Can Confirm Modifications
When you speak over the phone with an agent, it is important that you know who you are talking to, as it can be grounds for possible fraud activities. A binlist can be used in this situation, where shipping address changes can be verified with the concerned bank that handles the account. A binlist, since it is updated, can also provide some details to the verifying individual, if the modification of information is valid. Without a binlist, it can be easy to fool anyone that a billing address can be different with a shipping address, while still pretending that it is the same person. Therefore, you should be cautious in providing details over the phone, as it can compromise your financial standing.
A Binlist Can Provide Protection No Matter the Amount Involved
In the real world, the weight of loss can only be measured depending on value and importance. However, it is different when employing a binlist because it can be used to protect various clients, no matter what amount is involved. After all, money is still money, even if it is as less as $0.01 or $10.
A Binlist Becomes More Effective with the Help of the Account Holder
Believe it or not, stealing data is not the number one cause why credit card frauds happen. The mere fact that a person is too busy with certain affairs loses their time in checking their credit card info online. A binlist will only become effective if the clients take some time reading statements and summary of accounts where they can see different fraud activities done, written right under their noses. You can never trust yourself when it comes to the security of your account, if you are not too sure that you have seen it on your own. This is why a binlist is a service of trust.
