Bank Identification Number Database Must Be Up-to-Date
To safeguard yourself when you are doing an online business, you will want to start thinking about using bank identification numbers to run checks, on cards that are being used on your website. This will guard you from scams and frauds that are taking place every single day. The amount of money that is being lost to this frauds range in the millions every year, the saddest thing about this fact is that, there doesn't seem to be a decrease in speed yet. You do not want to be a victim of scam artist since it will cost time and money.
To prevent scams from taking place you can run a bank identification number search, this will show you information on the card that is being used. Don't be fooled by the name as, you do not need to be a bank to use this service. Bank identification numbers are just the first six digits, of the card that is used. Using those first six digits, you will be able to obtain detailed information, about the person it is issued to. Even the type of funding for the card can be known from credit, debit or prepaid cards; different funding types will carry different risk levels.
Credit and debit cards carry lower risk, when they are being used online; banks have extra safety measures when they are being used. The person who is issued the card can even request that everything a purchase is made, the bank calls the person to confirm the transaction before it is processed. This will lower the risk level, when it comes down to fraud cases on the internet. As a merchant, it will also give you greater ease of mind that it is being used.
Prepaid cards on the other hand, are something that should be watched very closely and at the slightest sign of any trouble, stopped at once. Over the years people have been using prepaid cards more often, this is due to the ease that anyone can purchase and use them. There is no age restriction, anyone can walk into the store and purchase them on the spot. This makes them very easy to obtain rather than a credit or debit card, which requires more checks to be done before they are issued. However, these cards have been known to be exploited by criminals who use them to scam products, which are higher in value, then the card.
Using the BIN database checker the database that is provided needs to be big, this will be one case where "Bigger is better" since you will want more information, on the card that you are searching on. If the database is small you will not find the result and you might end up making a bad call, when it is time to confirm the deal. Look for a website that offers the largest database that can be found on the internet, this will ensure that you, will be able to find any results that you are looking for on the card in question.
To prevent scams from taking place you can run a bank identification number search, this will show you information on the card that is being used. Don't be fooled by the name as, you do not need to be a bank to use this service. Bank identification numbers are just the first six digits, of the card that is used. Using those first six digits, you will be able to obtain detailed information, about the person it is issued to. Even the type of funding for the card can be known from credit, debit or prepaid cards; different funding types will carry different risk levels.
Credit and debit cards carry lower risk, when they are being used online; banks have extra safety measures when they are being used. The person who is issued the card can even request that everything a purchase is made, the bank calls the person to confirm the transaction before it is processed. This will lower the risk level, when it comes down to fraud cases on the internet. As a merchant, it will also give you greater ease of mind that it is being used.
Prepaid cards on the other hand, are something that should be watched very closely and at the slightest sign of any trouble, stopped at once. Over the years people have been using prepaid cards more often, this is due to the ease that anyone can purchase and use them. There is no age restriction, anyone can walk into the store and purchase them on the spot. This makes them very easy to obtain rather than a credit or debit card, which requires more checks to be done before they are issued. However, these cards have been known to be exploited by criminals who use them to scam products, which are higher in value, then the card.
Using the BIN database checker the database that is provided needs to be big, this will be one case where "Bigger is better" since you will want more information, on the card that you are searching on. If the database is small you will not find the result and you might end up making a bad call, when it is time to confirm the deal. Look for a website that offers the largest database that can be found on the internet, this will ensure that you, will be able to find any results that you are looking for on the card in question.
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