ALL >> Shopping-Product-Reviews >> View Article
Preventing Online Credit Card Fraud With Bank Identification Numbers
With fraudulent credit card transactions trapping bearers completely unawares, the Bank Identification Number Database or the BIN database has proved to be a very handy tool. It helps do away with credit card transaction frauds. The BIN is actually the first six digits of your credit, debit, prepaid, or gift card number which is used for facilitating any and every transaction you might be carrying out through them.
The number represents the bank and the issuer of the card for due validation prior to transaction. Therefore, if your customers are using their cards to buy stuff from you, the BIN is the easiest tool which will help you identify the card and the issuer of the same. So, a BIN system can successfully correlate customers with the purchases and you can provide instant approvals too. But, it is crucial to have an up-to-date and authentic BIN database so that customer information can be verified for preventing credit card frauds.
Factors Responsible
The BIN database can be effectively used to combat credit card related frauds subjected to a few conditions. Some of these include the following.
* ...
... Accuracy Of Database: A lot would depend on how accurate the BIN database is. Most trusted databases would be more than 99 percent accurate, provided you choose correctly. Hundred percent accuracy is virtually impossible. But, most accomplished databases would be updated and monitored on a regular basis. A user should prefer a database which provides comprehensive information like the country of residence along with BIN numbers. Verification would be next to impossible without complete details. Most records are provided by the online merchants who are responsible for processing online credit card payments. Financial institutions and banks also provide records.
* Ease Of Usage: Ideally, a professional BIN database would be one which is extremely easy to use. They would adhere to a predefined format which can be easily used along with any programming language.
* Quality Of Records: A paid BIN database will always showcase high-quality records than the ones provided by free databases. There will be no spelling errors whatsoever and therefore automatic filtering would be accurate. Always look for a BIN Database which has been awarded the ISO certification, which is a hallmark for quality standards. Moreover, databases of repute would also be happy to extend help with regard to BIN correction and tracking down BINs which have not been found. They provide free support too as and when required. Updates are also provided on a regular basis.
* Mode Of Payment: It is important to check on the mode of payment supported by a particular BIN database. It is easier to choose the one that supports quite a few so that you can buy one with ease.
* The Cost Involved: There could be different rates for single licenses and bulk usage. Usually, a onetime fee would be charged in both cases. You can avail of free updates for a designated period of time and the unlimited number of members would generally be allowed for a bulk purchase. It is important to assess the rates offered by several database providers and then take a call. Not necessarily should you go with the lowest possible rates. The quality of the database should also be taken into consideration.
If you are in quest of an accomplished ISO certified BIN database for preventing credit card frauds and verifying bank identification number, simply visit www.bindb.com. You are likely to access one of the most current BIN databases through this link.
Add Comment
Shopping/Product Reviews Articles
1. Black Friday Sales Is The Ultimate Time To Find Dazzling Engagement Rings And Fine Jewelry At Unbeatable PricesAuthor: fine color jewels
2. Custom Clothing Manufacturers: How They Bring Your Designs To Life
Author: Custom Your Brand
3. Customized Corporate Gifts Promote The Best Way To Appreciate Your Employees!
Author: DTC World Malaysia Sdn Bhd.
4. Luxury Premium Corporate Gifts Singapore: What You Need To Know?
Author: DTC World Corporation Pte Ltd.
5. Unique Handmade Crafts & Decor To Auckland: Diamond Art, Paper Bowls, And Wholesale Fridge Magnets
Author: Apollo Grip
6. How To Choose The Perfect Engagement Ring: A Buyer’s Guide
Author: DAR Jewellery
7. The Ultimate Guide To Sports T-shirts For Men In 2024
Author: nitin singh
8. The Rise Of Digital Advertising Boards And Led Display Boards In Modern Marketing
Author: Eager LED Screen
9. Celebrate The Festive Season By Sending Christmas Gifts To India
Author: Satabdimitra
10. The Ultimate Guide To Fully Automatic And Super Automatic Espresso Machines
Author: Ryan Walker
11. Perfectly Pairing: Right Jewelry For Every Outfit
Author: leela
12. The Growing Market For Handicraft Exports From Nepal
Author: nepalhandicraftproduct
13. Explore The Rich World Of Handicraft Products In Nepal
Author: nepalhandicraftproduct
14. Holland Flowers Marbella Spain
Author: saikat
15. A Guide To Choose Flowers For Every Occasion
Author: vipul mishra