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Running an online shop that sells products, is one of the best ways to earn money. There is no overhead and you can reach the whole world through the internet. This way of earning money is not new and has been around for years. The same can be said about fraud and cases where online merchants have become victims of these crimes. Although it has become safer to do business online, it is never a bad thing to take precautions to be as safe as possible. You will want to prevent any personal loss of time and money, due to fraud cases. If you are an online merchant you will know that the number of people using credit cards to pay for their purchases is very high. Since money cannot be traded in physical form on the internet, credit cards have became the currency used most. There are both good and bad points regarding this form payment. The bad points will be of course cases of fraud. No matter how "Safe" or secure a bank is, there will be loopholes that certain criminals will be able to exploit, for their own benefit. Take for example the use of a pre-paid card. They have been gaining more momentum over the last few years as not everyone, is able to afford a credit card. The bad thing about gaining popularity for being used is that pre-paid card frauds have been on the increase as well. Scam artist and thieves have found a way to overcharge this card. This just means that even if the card has a value of $10, these people have found a way to charge over that limit. At the end of the day, the product that is sent out is lost and the merchant is charged for the money instead. If you were the merchant and you were facing charge backs from the bank, it will not only mean losing money, but your reputation as well. This is not a harmless prank as millions of dollars around the world are lost this way. Reduce your risk by thinking about something called BIN checking. BIN stands from (Bank Identification Number), just from the first six digits of the credit card, you will be able to tell if the card is considered a high risk fraud case. There are a number of BIN checkers that can be found online. Most of the free BIN checkers are not very accurate. I strongly advise you to find an up-to-date BIN checker that needs you to pay for a license. The reason this is better, when compared to free BIN checkers is because their database is more complete and they are updated on a regular basis. In the fight against fraud, you will need to have the latest information and data on hand. Paying them a small amount of money for the BIN checker, will save you more money, when you prevent any fraud from taking place. Nobody wants to be scammed out of their hard earned money.
Now you are aware of the importance of BIN checker website. To assess the quality of data, try online BIN checker.
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