Bin lookup tool helps to find bank card issuer
In today's market, it is extremely important for every business to protect themselves from fraud. The best way to do this is to ensure that you have access to a Bank Identification Number database. There are varieties of these databases available online; they can provide you with the Bank Identification Number (BIN), which is also known as an Issuer Identification Number (IIN). This number is the first six digits on any credit card, whether it is a Visa, American Express, MasterCard or even a debit card or prepaid credit card. These numbers are used in order to identify the specific bank that issued that particular card. This helps online merchants to discover more information about the particular credit card that was used on their website to make a purchase. This helps to detect possible fraudulent activity, which is becoming increasingly important in any online activity. Because the card is not physically present during the purchase, online businesses need to be able to discern that the credit or debit card is being used for that purchase is genuine, and that the cardholder is the same as the purchaser.
A BIN database can help online merchants protect themselves and their businesses, by reducing online credit card fraud. Currently, this is the only way in order to prevent fraud online via credit card, because it is unfortunately extremely easy for unscrupulous people to steal credit card information and use it as if it were their own. By taking advantage of a bin lookup service, your business can be protected from unethical and your responsible people, which only hinder the growth of your business. This is one of the most innovative anti-fraud systems available, and with an extensive database of more than 220,000 records, you will be able to get the information that you need about any credit or debit card, whether pre-paid, a gift card or other. This includes the country that issued the card, the bank that issued the card as well as pertinent information you will need in order to assure the validity of the user and the card. This can include the bank that issued it, as well as the level.
Levels of cards are defined on the card itself, and are often associated with the perks for that card, such as a Gold card, Business, Platinum or other. A BIN database is also vital to help in credit card validation, because it will help you identify what type of credit card it is. American Express cards will always begin with the number three, Visa cards will always begin with the number four, MasterCards will always begin with the number five and so on. Although incredibly simple, this information alone helps to prevent online credit card fraud. By having the first six digits on any credit or debit card, you will be able to verify every detail about the issuer of the card, the card itself and the user of that card. This information can include the cardholders address, your telephone number, where they live and how to contact customer support.
BIN databases are being updated every day, because credit cards are continually being issued around the world. This makes it that much more important for you to prevent online fraud, not only to protect you and your business, but unsuspecting consumers as well. This is truly ethical protection, which will help promote your business and ensure its longevity and success, by preventing online credit card fraud. Although BIN databases are free to use, so many people doubt the value that these services can provide. If you are one of those that is not sure about whether this online database can help prevent online credit card fraud, be sure to take advantage of one of their online demonstrations. It will show you exactly how a Bank Identification Number is used to perform a search, and will also highlight the pertinent information about the card, the bank and the cardholder. Along with this information, you will be able to compare the actual information from the BIN database and the information is provided to you for your online transaction, allowing you to deny or accept it, depending on the validity and authenticity of any credit or debit card, protecting your business against fraud.