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Protect Yourself with Free BIN Database

Debit and credit cards have become very widely used in recent years. They are used by customers all around the globe in performing transactions day in, day out. Most people consider the use of debit and credit cards to be more practical compared to having cash on them. However, unfortunately, there are not many card holders in existence who are aware of the existence of a free BIN database, let alone how this database may well help them.

Well, BIN was formerly known as IIN that stood for Issuer Identification Numbers. Today, BIN is meant to represent Bank Identification Numbers. These are the numbers that can be used in order to identify where a particular debit or credit card has come from. These numbers can be recognized by taking a close look at the first 6 digits that start the number on a particular debit or credit card. The rest of the numbers, on the other hand, are used as the identification numbers for a particular debit or credit card and thus they have to be unique. What this means is that there should never be more than one card that has the same identification number if they come from the same card issuer.

Bin database is supremacy. Once you have right of entry to bank identification number further than a trouble-free string of digits that is the credit card bin number, your hazard management components can make use of that data to enhanced estimation of likelihood of dishonesty based on nation of issue versus nation of planned delivery.

A free BIN database can be of great help to both merchants and card holders. This is because this database works by recording and keeping track of those deals that have been carried out by making use of a particular associated debit or credit card. This is possible thanks to the network system in use. With this database, merchants now have a greater chance of avoiding fraudulent transactions. Customers, on the other hand, can have more security while they are trying to make purchases by means of their debit or credit card.

Fortunately, it is quite easy to obtain a free BIN database. Another good thing about such a database is that it is also possible to find out a card issuer's phone number besides other basic information. Of course, private information that should never be revealed will still be kept private. Hopefully, with the help of such a database, there will no longer be fraudulent transactions that take advantage of either a debit or credit card.