With the development of technology, businesses have modified their mode of transaction from the traditional methods to more advanced online card transactions. Traditional methods are also prevalent, but nowadays more and more customers prefer to make the payment with their debit and credit cards. So, companies that does not support online card transactions are losing considerable number of customers. It is for this reason; most of the companies have an online segment. This has increased their income and has also made the transaction process quicker. However, companies that support online card transactions come across card frauds which take place frequently, if proper measures are not taken to prevent them. Therefore, to prevent such incidents, most companies use bin database which is an excellent tool that secure the online businesses.
BIN refers to the bank identification number that helps in identifying the issuer of the card. The BIN or the IIN that is issuer identification number shows the card type and card brand and also the country that has issued the card. The first six digits of the card is the BIN that helps to identify the card issuer. The bin list tracks all the debit card and credit card transactions and records them through a networking system. Most companies now use this tool as there is no better way to prevent card frauds than checking the card with the bin list. Those companies that do not use a bin list lose money and their reputation is also affected. When a company uses bin database amex, it can verify the authenticity of the debit or credit card before accepting it. If the card is found to be invalid then the transaction is cancelled immediately.
Since, using a bin list is the only way to detect card fraud and prevent them, more and more business owners and managers are using this tool. If you are a business owner then it is your duty to secure your business as well as your customers' information and it is for this reason you should use bin list. There are a number of bin list providers who are quite popular among people and they are BinDataSet, BinBase, FraudAssets, ExactBins and Bin2Country. The number record till March 1, 2013 of the bin list companies are - BinDataSet - 352+, BinBase - 234+, FraudAsset - 353+, ExactBins - 190+ and Bin2Country - 220+.
These five bank identification number database companies are quite reliable and are always updated. The dates on which these companies were last updated are - BinDataSet on 14 February 2013, BinBase on 25 February 2013, FraudAssets on 28 February 2013, ExactBins on 21 February 2013 and Bin2Country on 15 February 2013. On certain parameters like BIN, brand, card type, issuing organization, issuing organization website, phone number and such other parameters, BinBase comes first, followed by FraudAssets, ExactBins, BinDataSet and Bin2Country.
While choosing any bin database American express, proper comparison should be done so that a company can choose a bin list provider who can provide them the best service. A company can also use the service of more than one bin list provider, if needed.
BIN refers to the bank identification number that helps in identifying the issuer of the card. The BIN or the IIN that is issuer identification number shows the card type and card brand and also the country that has issued the card. The first six digits of the card is the BIN that helps to identify the card issuer. The bin list tracks all the debit card and credit card transactions and records them through a networking system. Most companies now use this tool as there is no better way to prevent card frauds than checking the card with the bin list. Those companies that do not use a bin list lose money and their reputation is also affected. When a company uses bin database amex, it can verify the authenticity of the debit or credit card before accepting it. If the card is found to be invalid then the transaction is cancelled immediately.
Since, using a bin list is the only way to detect card fraud and prevent them, more and more business owners and managers are using this tool. If you are a business owner then it is your duty to secure your business as well as your customers' information and it is for this reason you should use bin list. There are a number of bin list providers who are quite popular among people and they are BinDataSet, BinBase, FraudAssets, ExactBins and Bin2Country. The number record till March 1, 2013 of the bin list companies are - BinDataSet - 352+, BinBase - 234+, FraudAsset - 353+, ExactBins - 190+ and Bin2Country - 220+.
These five bank identification number database companies are quite reliable and are always updated. The dates on which these companies were last updated are - BinDataSet on 14 February 2013, BinBase on 25 February 2013, FraudAssets on 28 February 2013, ExactBins on 21 February 2013 and Bin2Country on 15 February 2013. On certain parameters like BIN, brand, card type, issuing organization, issuing organization website, phone number and such other parameters, BinBase comes first, followed by FraudAssets, ExactBins, BinDataSet and Bin2Country.
While choosing any bin database American express, proper comparison should be done so that a company can choose a bin list provider who can provide them the best service. A company can also use the service of more than one bin list provider, if needed.