Verifying The Accuracy Of Payment Transactions Through Bin Visa List
BINs of credit cards have many types, each type starting with a particular digit
. The first digit of a credit card's BIN determines the scheme of the credit card and is entitled to a certain transaction. Among the major BIN lists of the many credit card types are the Amex bin list, MasterCard bin list, Diners club bin list, Discover bin list, JCB bin list and the Bin Visa list. The Bin Visa list allows online merchants to authenticate every payment transaction that is made online. The Bin Visa list contains credit card numbers that begin with number four (4). The BIN Visa of each card is directly posted from the public listing online to ensure that that the Bin Visa list is regularly updated.The Functions of the Bin Visa List
The Bin Visa List, just like those of the other credit card schemes, contains certain details that allow business entities involved in marketing credit cards to validate all the information that concerns the credit card holder's identity. The Bin Visa list indicates the bank, the customer's billing address and some other transaction details of each of the Visa credit card included in the Bin Visa list. Through this, online merchants are able to validate the identity of the person presenting the credit card. For instance, an individual purchases something and presents a credit card over the counter. In order to determine whether the one who has just purchased some goods is the real owner of the credit card, the individual to whom the credit card is presented will look through the Bin Visa list and scrutinize the real identity of the real credit card holder enlisted in the system by determining whether the details registered in the Bin Visa list match the details of the one presenting the card.
Other Uses of Bin Visa List
The Bin Visa list is not just used when a mismatch exists between the details of the credit card holder listed in the system and the one presenting the credit card. The Bin Visa is also used in determining the type of the card, whether it is used as a credit card, a debit card or a prepaid card. Scrutinizing the Bin Visa helps businesses to identify whether these three card types are used for fraud by online predators. Records show that of the three, it is the prepaid card type that is most commonly used in fake transactions.
Nations where Frauds Originate as Determined by Bin Visa
Among the countries where frauds in prepaid credit cards are widely held as determined through the Bin Visa are two of the biggest countries in the world, Russia and China. Merchants who find out about these frauds automatically raise their red flags to caution credit card holders to guard themselves against individuals who may steal their credit cards and use them for frauds, which will be easily determined by the Bin Visa list. Through giving such warnings, credit card holders as well as businesses marketing credit cards are able to become more alert in dealing with suspicious individuals.
by: Gen Wright Can You Teach People Something? Go Make Money Doing it Buy The Kane Chronicles By Rick Riordan Online Easy Methods For Generating More Money Kick The (slippage) Tires Before Investing In A Trading System As Being A Wedding Ceremony Digital Photographer Isn't Any Imply Job Consider Buying A Wine Rack. Understanding Your Financial Intelligence Quotient Assorted Glow Products Add Glitter To Kids' Party Celebrations The dukan diet: most effective and easy diet to lose weight Steelers Jerseys: Just Buy Them If You Are Steelers Fan How To Make Money Online Anywhere In The World Saving Money With Excesses Make Using A Gazebo Design Kit Easily