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Understanding BIN Numbers Every online merchant needs to understand BIN numbers, although as more and more individuals begin to learn how to do business online, this knowledge is something that is easily missed. BIN numbers hold the key to protecting yourself from online credit card. When you're able to verify the credit card that is being used to order product, you then are able to make a good judgment call on whether the buyer is legit or not.
BIN= Bank Identification Number In case you're wondering what BIN numbers are, they stand for "bank identification number." BIN numbers are basically the first six numbers of any credit card. They indicate the bank that issued the card, the country of origin, and other important information that can be verified and matched with customer information so that you know you have a legitimate sale from someone who is authorized to use the credit card in question. For example, you automatically know that all Visa cards start with a four on the front of them. Mastercard numbers must have a 51, 52, 53, 54, or 55 on the front of them, or else you know that the card in question is not a Mastercard. Discover cards begin with 6011 or 65. The Purpose of BIN Numbers Most retailers utilize BIN numbers within their credit card systems. The use of a BIN database in their system allows them to give instant authorization to the credit cards they swipe through. The principle is the same with online transactions, although authorization is even more important because you have no idea who is entering that card information. It is far too easy for thieves to use stolen credit card information to make purchases, but if you have a reliable BIN service, then you will be able to red flag transactions that don't match. For example, if you have a credit card with a BIN number that indicates it was issued in the United States, you can match it with the address of the person who will be receiving the package and see if that address is in the United States. Another great method of BIN number matching is to match the IP address of the computer that ordered from you with the BIN of the credit card that was used. If you have a computer in Nigeria that was used to make a purchase with a credit card belonging to someone in Australia, then you may have a problem. How to Use BIN Numbers Whenever you sign up for a BIN service, it's up to you to implement it on your site so that you have constant protection against credit card fraud. A quality BIN service will be able to be implemented with almost any programming language available so that your site does not experience any technical issues with the site. BIN2Country provides a reliable BIN authorization services geared specifically toward online merchants. The company offers both an online and offline program, as well as a live demo on the company website that can be used up to 20 times a day.
For a comprehensive BIN numbers database, please visit our website.
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