subject: The Utmost Confidentiality Of Card Bin Number [print this page] The common identifier and distinction of any credit and debit cards is the bank card number. Typically, it has 16 digit numbers where the 6 digits on it which was known before as the Identification number or IIN but has been superseded as bank identification number or known in the acronym as BIN. This card bin number, which are the first 6 digits where out of the 6 digits actually identifies or represents certain institutions that responsible for the issuance of specific card to its card owner. Hence, the same card bin number is being used to monitor all the transactions being done to all individual card holders across the globe. It does not matter how much card that someone holds since they all have identified card bin number that will be used during the validation process of the card. The card bin number contains confidential information that can only be seen when it's inputted in a database that would filter searches.
How Is Card Bin Number Assigned?
The card bin number is assigned through the IIN ranges, which are arranged accordingly based on the number which also represents the unique identifier for each card holder. In fact, an individual should also be cautious on constant updates if specific issuing networks are active or not to ensure that each card bin number is still valid. This covers all online transactions that have something to do with credit and debit cards in purchasing items online and other immediate payments done via web. Validation of card bin number is important especially if the issuing network is operating legally under the law.
The Volume of Card Bin Number in a Database
There is no specific number given as of now as to the total number of card bin number in a search database system. Since this is kept in high confidentiality, only the card bin number service providers could give details about it. This can only be disclosed upon the entry of the card bin number in the system when checking the records of specific card holders. There are also required or allowed number of searches per card bin number to ensure that it will not block off the whole system, which also varies based on the number of searches set per bin number.
The Questions Answers by Card Bin Number
Some of the major questions that can be answered and solved by the card bin number are the fraud prevention detection because of its unique card bin number assigned upon issuance of the card. As common knowledge, it composed of 6 digits that will be keyed into the system where all other information will be filtered until the right match is revealed. It does not matter if specific credit or debit cards have been processed manually and with the current automation. The important aspect of the card bin number is that it's recorded thereafter so it can be tracked down by the system. This is a joint effort of the major financial institutions in combating fraudulent activities and reducing chargebacks.
