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Why All Online Merchants Need a Reliable BIN/IIN Database A BIN/IIN database is a vital part of all online businesses, no matter how big or small. A BIN/IIN database allows merchants to perform several checks on the credit cards that are entered into their system as forms of payment. Without the ability to make these checks, you could fall victim to credit card fraud and end up shipping product out to someone who has given you false or stolen credit card information. If the credit card number is stolen, then you are out of product because the person who actually owns that credit card will have the charge reversed. By this point you will have likely already shipped the product, and it simply becomes a loss on your business. Credit card costs you time and money, and the only way to avoid these issues is to contract with a reliable BIN/IIN database. The Purpose of a BIN Database The BIN, or bank identification number, and IIN, or issuer identification number, are one and the same. Originally the term was BIN, although today not every credit card issuer is a bank, which is why they officially changed the term to IIN. Technically, you could use either term, and people within the business would know exactly what you are talking about. A BIN Database is a very important line of protection against credit card fraud because it allows you to make subtle checks that will tell you a lot about the credit card that has been entered on your website. By simply running that credit card number against your database, you will be able to see the country it was issued in and the name of the bank or issuer of the card. A BIN Database will help you make sure that credit cards match the country where the product will be shipped to. Some BIN/IIN services even allow you to match the IP address with the country so that you know for certain if everything matches. This ensures that you do not process transactions that could be phony. It prevents you from sending out product to people who have no intention of actually paying for it because they stole the credit card number they used. Uses for a BIN Database Most online merchants use a BIN Database on their website as part of the programming language when a person checks out. When they enter in the information, the language runs the credit card against the database. If the ship to country doesn't match the country of the BIN on the card, then that transaction receives a red flag or is rejected. A BIN Database can be used to determine what kind of card it is, whether it's a Visa, Mastercard, or other type of credit card. It can also tell you the name of the bank or entity that issued it, as well as a phone number to call and verify the credit card more directly so that you can be sure that the transaction is authentic. Bin2Country provides reliable BIN Database services every online merchant can rely on. The company offers both online and offline databases that are a must-have for all online merchants, no matter how big or small they are.
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