An increasing number of online customers to purchase desirable products has increased the fraudulent activities on transactions. The merchants in the line got eroded in profit making. The prevention of online fraudulent and its prevention is the need of the hour. The BIN checker helps to screen the apprehensive order, and thereby enhances the measure of fraud preventions.
How it helps
BIN offers legitimate information on credit and debit cards. They inform all the details of the cards, such as brand, type, level of the card. In short, the bank identification number throws light on the card and the card users.
But, gaining the entry for the additional information that runs beyond the 6 digit numbers, the merchants can prevent fraud. It stops the suspicious deal. By obtaining data information, the businessmen can boost the risk management components. It in turn supports the merchants to know the fake online business deal.
The BIN gives warning sign when the issuing country differs from the country of delivery. The database helps to find out the authenticity of the dubious order. For example, if a bank in America finds a card issued by the other country for purchasing products in Russia, the transaction is assessed and monitored before completing the ordering process. It is the perfect way to prevent fraudulent.
Why BIN data provide the greatest measure of fraud protection?
BIN database discloses the records of the customers in details. It is sure for the merchant gets all the information of the fake cards that replicate the original one. The increasing charge back percentage draws the attention of the online traders. The online merchants now enjoy the best measure to detect the fake transaction activities and also it enables to check the ratio of charge back.
The online access to an extensive BIN database has made it possible for the merchants to gain this security. Now both the customers and the merchants are safe and secured.