With a large number of E-Commerce websites coming up there has been a rise in credit and debit card frauds and thefts. A lot of business owners have to face these problems as a number of people do online transactions. Credits and debit cards have become a necessity today, without them n e-commerce or online transaction can be done. Online transactions are not all that safe as you have to reveal a lot of your personal information before masking the final payment which is the main reason for the large number of credit and debit thefts taking place. Therefore, it is very important to take utmost safety measures to prevent such online thefts.
BIN is one such way through which such thefts and the losses that the business owners have to face can be controlled. BIN is known as the Bank Identification Number, it is the six digit number on the credit or debit card which is used to recognise the card holder. BIN is also known as the IIN (issuer identification number), this number is used to find out the bank and the city to which this card belongs and it also helps in getting the other crucial details related to the card. All this is possible with the use of the BIN checker, BIN number works only in BIN checker software.
Benefits of BIN
- The BIN helps in analysing the transactions made and also helps in identifying the suspicious transactions that are made from fake or stolen cards.
- BIN protects your reputation.
- It helps in gaining the confidence of the customers as they believe that you must have taken adequate security measures to protect them.
- It gives you a lot of information about the customers who do make online transactions.
- You will not have to face any more losses.
Those who don’t have an idea about BIN lookup, then it is not a tough job as mentioned earlier the first six digits on your credit, debit or prepaid card is the BIN number. This BIN number just needs to be entered in the BIN checker and all the necessary information is gathered. This is perfect especially for those who have large businesses and where maintaining a list of all the transactions made is a difficult task. BIN lookup is not tough at all, through bin lookup you can get to know about all the information related to the card holder.
BIN checker is the most adequate measure business owners can take to save themselves from incurring heavy losses. A few years back this method was only used by brick and mortar shops but now with the rise of E-commerce it has become a necessity for all the online website and business owners to us this. Those who are planning to start their own business should make sure that they use the BIN checker. It is very accurate, cost efficient and user friendly. This software reduces the overall risk of making purchases and also eliminates fraudulent activities completely.