subject: Who Should You Run A Credit Card Bin Search On? [print this page] You would think that people these days are really into keeping a high level of respect for others and they would carry that on into other aspects of the world such as online shopping. Using a credit card on the net is very much like using one at the grocery store. The only major difference is that you are not there physically on the net and you do not have to provide proof of who you are with most services. You can simply fill in the blanks, make your purchase and wait for the delivery. By choosing to pay online, many people are reducing the need to leave their home for everything from video games to intimate and private items.
Who is really a Risk to Warrant a Credit Card Bin Search?
The question is not who is risky, it is who is not risky. This question cannot be determined so easily as a 20 year old man has the same ability to impulse buy as a 60 year old woman. The process is very selective based on the needs for the person to complete the purchase. The big issue is that you cannot ever know how old, how healthy, what race or any other type of profiled variable to choose who should have a credit card bin search done on them. The truth of the matter is that a credit card bin search should be performed on everyone.
Credit Card Bin Search Does Not Limit to High Risk Purchases
Even though the high risk purchases by a single individual may be difficult to dismiss without a credit card bin search, it is also the little things as well as the rest of the purchases made while not being there visibly. The credit card bin search can help catch someone who is simply trying to buy some simple materials that only cost a small amount but still make a dent in the losses for the business.
Any time that a credit card bin search is made, there is the possibility of finding a transaction that will simply be denied. The credit card bin search makes it very simple to detect old and fake cards that are introduced into the system. Older cards may no longer be listed within the system and the fake ones will simply trip the warning. As these cards are rejected one by one, the ability to be targeted for fraud reduces little by little. Fortunate businesses will have loyal consumers that will not pull fraud risks. As long as the credit card bin search is utilized often, the ability to make sales with higher profits and fewer losses will continue.
All credit card bin search activity should be performed as soon as orders are made if possible. This will ensure that the orders can be denied or filled in a much faster fashion. You can easily keep your customers safe and free of problems when you introduce the credit card bin search into your normal security practices.
