subject: Bin Numbers List- Maximizing Benefit [print this page] Credit and Debit cards produce the simple risk of a possible attempt to defraud the one receiving the credit or debit card in lieu of any sort of payment towards the sale of an item or the offering of a service. The chances have been on the risk of such malicious attempts in recent times particularly with the advent of the internet as an important tool of item purchase in the recent years.
While that is not the only threat associated with the use of plastic money, it certainly is the most common. Other threats include the use of credit cards over the internet to conduct a larger intention of violence or law breaking in any other form. Hence, there are threats that need to be taken care of and as of now, the BIN list is one mechanism that is doing so sufficiently at this stage.
The BIN List is a comprehensive and continually updated list of data that is accorded as per the details of issuance of a debit or credit card. Each debit or credit card has a specific card number and the first six digits of this number pertain to the BIN, which can be used to call the details of the issuance of the card from the BIN list.
Think of the database as a enormous BIN list excel sheet which brings together a large number of entered details at the use of a key with the key being the BIN in this case. The advantages of using such a system pertain to the security of the transaction. In serious cases, the security of the people is involved.
A BIN List may be accessed with the help of specific software that are associated with a BIN List which are found on demand across the internet. The BIN List checkers online are also of immense use. The only thing to be careful about here is to ensure that you get the best possible look up option from the numerous ones available across the internet. The best way to go about is to read up on different business forums and get the best ideas on usage of the better services. You can even try to use a combination of services if you so deem fit.
Using a BIN List checker has become somewhat of an unofficial requisite for most businesses, considering the increase in the use of cards to facilitate criminal intentions of malicious as well as violent nature. One checks on a card and finds a discrepancy, which can be the use of a card issued from one location and used in another. Again, the use of a separate bank branch name on the transaction and the credit card issued by a different branch than otherwise claimed. In fact, there may be a lack of proper record for the user of the card. In all such cases, it may be best to report the case or deny usage. At the end of the day, the use of BIN List software may come a long way in helping people prevent any attempts to defraud them.
