subject: Pool Your Customer Information With Bank Identification Numbers [print this page] Why should you use bank identification numbers checker? If you are involved in online trading or you basically accept credit, debit, prepaid or gift cards you should protect yourself from fraud. These are all cards that thieves have found can be used to transact even if they are not the owners of the cards. They will present these cards to you as genuine and put your at risk of loss as a result of fraud. A bank identification numbers database will contain all the numbers of the cards that have been stolen, previously declined or cancelled.
Having this information within your reach will protect you from any kind of fraud. By having a huge pool of declined and acceptable cards you will considerably reduce loss to your company. Since most transactions are now done by credit or debit cards, cash payments are rarely being used. Extra caution therefore needs to be taken when accepting cards as form of payment. Bank identification numbers lookup are not only advisable to online traders, they are also advisable to insurance companies.
Insurance companies can access bank identification numbers database to look for any questionable claims. Bank identification lookup can reveal the customers previous trading history, this way if claims are too high, it should raise a flag. Medical providers can also use bank identification numbers checker to view the status of a patients medical card. A bank identification numbers database is therefore advantageous for both the insurance provider and the customer. It will speed up the claims process while saving a lot of time.
Having a reliable database to check bank identification numbers means one that will considerably reduce risk associated with credit card fraud. It should be one that will work well with your own verification methods that you are currently using. This means it should be in a user friendly format with easy integration. It should offer as many fields as possible for it to accurately narrow down a card number.
With a bank identification numbers database you will have valid information for each card. It will be able to identify the type of card, brand and the level the card enjoys. As such equipping you with all the information you need to either authorize or decline a transaction. Criminals will sometimes present you with a lower level card and expect first class service. But with bank identification numbers checker you can be a step ahead of them.
Companies are paying a lot of penalties for charge backs incurred from credit or debit card transactions. If you can be able to verify and validate a card as genuine, you considerably reduce the risk associated with charge backs. Once you get a charge back from a customer you can flag them in your system to protect yourself in future in case they are fraudulent.
A reliable bank identification numbers database will save you time and money. This will be achieved by reducing the amount of time spent on manually validating a card. And money by reducing loss and charge backs.
