Do business owners and managers have to invest in an accurate and complete Bank Identification Number (BIN) database? Business transactions nowadays are performed electronically, and you have to institute the necessary safety protocols to protect not only your interest but the interest of your clients as well.
BIN database download not only make the online transaction safe and secure. This business solution also allows you to process and complete the transactions with your clients in just a few seconds. Companies constantly face the threat of credit card frauds and you would need bank identification number checker to flag suspicious transactions and prevent frauds and unnecessary chargebacks.
This makes visa and MasterCard identification important tools to counteract any attempts by shady characters to commit online scams and other fraudulent activities online. This business solution allows you to secure online transactions and protect your company’s stake and reputation as well as the interest of your clients.
General Features of Bank Identification Number Database
The credit card checker is presented as numbers in excel following an 11-column format. You can use any programming language to parse the updated numbers list. Thus, it is imperative that you find the source that will provide you with easy access to accurate and complete BIN list. And you should be able to access the BIN database without any technical issues and challenges.
Additionally, your provider must be able to deliver the most accurate and up-to-date BIN database list. The most current BIN database would normally contain around 140,000 entries covering over 9,000 banks. A comprehensive database should consist of data culled from various sources. The records must not only come from online sources. To have a comprehensive database, the data should also be obtained from merchants that regularly process online credit card payments as well as records from banks and other financial institutions. There are entities that offer over 300,000 records. However, these data sources only provide you with the numbers but come with no information about the bank or country of origin. Obviously, these numbers are practically useless.
Key Benefits of Bank Identification Number Database
A reliable BIN database should consist of updated BIN entries from different banks and other financial institutions. Companies will be able to pinpoint the credit card issuer and the country of origin with the right BIN checker. This business solution provides better security profile for your business. Thus, you will enjoy the full confidence and trust of your clientele. This should be an important aspect of your company’s branding, and if you want to avoid or minimize frauds and other forms of online scams, you need to spend on the right BIN database.