subject: The Benefits Of Using A Bin Checker [print this page] A BIN checker can be one of the most valuable things that you invest in when it comes to your business. If you have to deal with a lot of credit card transactions online and/or offline then a BIN credit checker can help. While consumers don't give much thought to the first six digits of their credit card, it can tell a merchant everything that they need to know. It tells the merchant:
The Card Issuer Information
Consumer Billing Information
Whether the Number is Legitimate
By finding out the above, you'll be able to better decide whether or not to allow the transaction. You can find free BIN checker tools online. They allow you to search a limited number of BIN credit cards per day. If you run a small online business then this may be all that you need. However, if you own a fairly large business and you deal with many transactions, you may want to invest in proper BIN checker software.
The Importance of BIN Checker Sites
BIN checker sites often allow you to search a for BIN numbers free for a certain amount of times each day. Small and medium businesses may not need to do more than a couple of searches every day. After all, how many potential fraud transactions can there be? However, even if you do only have a small business, a BIN checker can still be useful.
Every time that a card transaction is processed, you can run the details through the BIN checker. You can either do this using BIN checker software or you can sign up to a BIN checker website. If you are working offline then BIN software is potentially the best option. It's also easier to spot potential fraudulent transactions offline as you get to see the person making the purchase. Online you rely solely upon the BIN checker list.
The Most Obvious Signs of Fraud
There are some common signs that a fraudulent transaction is being made. Any large purchase should be questioned. Where are the goods being ordered from? Run the BIN checker credit card list and see where the card is registered to. Is it nearby? If not then there is a strong chance that the transaction is fraudulent and it should be questioned.
By refusing the transaction you will not be subject to any charge back fees. If you were wrong about the fraudulent activity then you will have only caused slight upset. If you were right then you have not only saved the consumer money, but you have also saved your business from suffering charge backs too.
Fraud is unfortunately a very common problem throughout the world. There are many ways that you can protect yourself, but one of the best ways is to make use of a BIN checker. By verifying the details on the card, you can help to prevent fraud and benefit the consumer in the long run. After all, charge backs cause a loss in profits which can cause businesses to increase their prices.
