Bin List Database- Online Transactions Made Easy
More often than not the use of such a title would imply that a transaction is made
easier for the buyer but the funny thing is that with a bin list database the idea is exactly the opposite. No, it doesn't make things tougher for those who buy products online unless they stand up with intent to defraud the seller. The bin list database is in a way the scourge of credit card and debit card fraudsters who tend to make fake credit cards and purchase items leaving the seller in a lurch when he or she goes on to claim the money that would have been rightfully theirs by virtue of a proper transaction. So the first question is what is a bin list database?What is a Bin List Database?
To understand what a bin list database is, one needs to understand the significance of a BIN. Bin or bank identification number is essentially the first six digits of a credit card or debit card number. It is a sort of reference to the uniqueness of a credit card and the person who possesses it. The idea here is to link the BIN to the owner. This becomes the defining factor of the usage of a bin list database in terms of a monetary transaction online. The idea is, a bin list database is consisting of the details pertinent to a BIN which is taken from the credit or debit card number. The details will include not only the name of the owner but also the place of origin, the bank of origin and many other details dependent on the source of the purchase of a bin list database. The information quanta stored in a bin list database may well be unique to the seller who may use more or less details to create the bin list database.
How is a Bin List Database used?
In the transactional process, the bin list database finds itself being used at the point where a purchase is made. The credit card owner or debit card owner hands over details to the seller in the transaction and the seller verifies the authenticity of the user using the BIN and the bin list database. The card once verified can now be used safely for a transaction with the seller's interest being more secure in the transaction and the chances of him or her being fraudulently swindled reducing massively.
Where is a Bin List Database purchased from?
Various online firms deal with Bin List Database packages. A bin list database can be bought over the internet and be combined with a GUI package taken from the seller or purchased individually if need be. The combination of the two may be supplemented with other security based add on elements which are again unique to a company selling the bin list database. The number and value of add on elements may be a vital factor determining the firm one would wish to purchase the bin list database from, as most good databases tend to be overtly similar in quality and price.
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