Business frauds these days have become very common. There have been around more than millions of such people who keep waiting everyday to cheat people and live on their earnings. There are many ways through which hardcore criminals can access your accounts and all the information’s related to your business and work. And to do so the internet is the playground for such people.
Millions of dollars of the e-commerce firms just gets wiped away through the credit and debit card fraud which takes place every year. In our daily lives there are many transactions that is online transactions which takes place in which one out ten is a criminal who’s out there to get access to your information’s of business etc.
But now there is no need for the business persons to worry. With the help of bin list check system each and every individual can save their money, and business, when dealing with clients from going into the wrong hands.
BIN’s List –
Before you get to know about bins lists, first know what does bin stands for. BIN means bank identification number. The credit card in which there is a 16 digit number, the bin refers to the first six digit of the credit card which is used for info, such as identifying the issuer. Like from where the card got issued, whether it is real or fake etc. the number in the credit card of the customer is identified and also cross checked through the database of the bin. This system specially helps the vendors who work online, which shows them the originality of the card.
Working Methodology of BIN List –
Bin list method is a method in which the vendors and other individuals doing business online can check the BIN of any credit card, especially the card which is used for purchasing any property or transfer of the capital etc. This system of bin is very quick and works on many database which helps in analysis of numbers. It also additionally helps the customer by revealing any kind of fraud and suspicious matters with the card. It also reveals historical frauds too. The tool of the bin is very easy to use and also helps the business professional’s work smoothly without any kind of tension.
Benefits of BINList –
- Credit card frauds are very much damaging for the vendors and other business owners, but now with the help of bin list you can be saved
- Insurance and charge back services are also offered by many banks and credit offices to the cardholders
- Bin list is a method through which all the stress & worry of the vendors and business people is likely to get vanished as it provides info about the credit/debit card without any hassle.
- They can also be assured, as every card which is used goes through a bin list check that too thoroughly
- It also helps the vendors and other business people from the aggravation of chargeback etc.
So it is advisable to all the vendors and individuals to get the bin list so that they can work hassle free online.