Instead of spinning you wheels when your business is hit with charge-backs, use the incredible tool – a credit card BIN checker to adapt your business and come out on top. In this nerve-racking world, the web is always changing and finding tried and true methods for combating fraud is a necessity.
The credit card BIN numbers database is the winning solution. Once you begin using a credit card BIN checker, your bottom line will increase and your business will run more smoothly and efficiently.
It’s true that an ounce of prevention is worth a pound of cure. And it’s no secret that the credit card BIN checker is the one tool that keeps you one step ahead of crooks, identity thieves and scammers.
Taking full advantage of the credit card BIN number system will allow you to put more focus on the more interesting and fun aspects of your business.
For those who don’t know, credit card BIN checker software lets you validate a credit card, gift card, charge card, debit card or prepaid card through a database. BIN stands for Bank Identification Number.
At times you will see it referred to as an IIN or Issuer Identification Number because the concept is crossing over to other industries. A credit card BIN is represented by the first six digits of any card.
Now the first number on the card is called the Major Industry Identifier or MII. Its role is to identify the category of institution that is responsible for issuing the card. Here’s a brief list of how MII numbers are categorized:
The numbers 1 and 2 are reserved for the airlines.
The number 3 is reserved for American Express, Diners Club and Carte Blanch which are a combination of travel, entertainment and banking institutions.
The credit card BIN number 4, 5, and 6 are reserved for major credit cards like VISA (4) MasterCard (5) and Discover (6) and merchandising cards.
The number 7 is set aside for Petroleum cards like Sun Oil and Exxon as well as other industry assignments to come in the future.
The number 8 is appropriated for healthcare, telecommunications and other future industry assignments.
The number 9 is earmarked for national assignments.
The data available in a credit card BIN look up is not the kind of information that is released to general public. Instead, you’ll need a license to perform a credit card BIN search.
It’s simple really and you can purchase a license based on what your business needs. If you process a lot of electronic transactions daily, you may want to choose a universal license instead of a single license. A single license carries certain limitations while a universal license opens up the possibilities.
No matter what you choose no one can argue that the credit card BIN checker is the best tool to help you overcome obstacles and take control of your business.