subject: Why Binbase Numbers Are Essential To 21st Century Success [print this page] The world we live in is growing increasingly paperless. As people learn the joys and conveniences of swiping a card and having their money protected in a financial institution rather than a wallet, the payment transaction will grow only more popular. If you're a business person and want to prevent the happenstance of credit card fraud, then you will want to have a bank identification number database working to your advantage. The bank identification, or BIN, number is usually the first six digits of a credit or debit card and is used to identify the financial information of the user and his bank. Without a BIN number database on your side, you leave yourself open to convincing counterfeits and forgeries. You also fail to protect your customers from identity theft and fraud.
While there are a number of BIN databases out there that purport to take care of your needs, only few have the up to date numbers and super fast convenience and ease of use that you need to do business with peace of mind in your corner. Before you sign up with one, make sure they have your best interests at heart. A free demo search will give you a better idea of how to use the product and how, exactly, it will play to your advantage. Furthermore, licensing options should give you the freedom and peace of mind to focus on your business without worrying about cost and functionality. Once you've chosen the right service for you, you'll begin to see why it is essential to have a BIN numbers database working for you.
1) Insurance against failures
Most services of any reputation will stand by their product. Should the system fail to do its job properly, you should not be the one held responsible for the failure. Make certain that you deal only with those, who have enough confidence in their product to say, beyond a shadow of a doubt, this is the most up to date information that you can find.
2) Protection and peace of mind for your customers
If there are any financial alerts set up for a customer, who may have experienced identity theft, your BIN number database will help you catch it, thus preventing the spread of credit card fraud. Your customers will appreciate that about you, and you can rest easier knowing that you are doing things by the book.
3) Prevents you from losing money
With an outdated database, you could run the risk of running through a transaction that will only get bounced back when the financial institution finds out that you did not have access to proper alerts. Essentially, by protecting your customer in this new century of commerce, you are protecting yourself.
