subject: Bin Lookup Database Serves As An Online Security [print this page] Based on the search engine records, there are thousands of online businesses being created, launched and promoted not just regularly but hourly, every day. Internet is the best business platform these days because of the huge and wide connection to major internet users where prospective customers are on the look. However, despite of the profitable and easy process of online merchandising, higher risks of fraud is at stake as well. Nonetheless, to combat this major issue, the bin lookup database was created in order to give financial security to all website owners. Aside from hacking issues, this is also one of the fraudulent activities that bin lookup database can guarantee not just to the webmasters but also to the legitimate card holders who are really in the business of purchasing and not to scam people's money.
How Does Bin Lookup Database Performs Counter Measures
Bin lookup database serves as an online guard 24 hours a day and 7 days a week. Whatever online transactions are done, specifically payments using credit cards or debit cards will be verified directly to the bin lookup database. Bin lookup database would do the search before any business accepts the final payment from the customer and to protect the real card holder from any fictitious information and identity. The bin lookup database would ask for 6 digits, which is one of the unique information that will be typed into the system. Any electronic payments that will be made prior to final purchase will be screened off in order to protect the best interest of online businesses. The bin lookup database is not just limited to online transactions, but it's also being used by other major offline businesses because of the higher security and synchronized data due to its regular updates.
The Real-Time Process of Bin Lookup Database
The bin lookup database will be automatically synchronized with whatever system that any online or offline business has. The moment that the card is swiped by the customers, the bin lookup database will read the unique numbers found in the card. The bin lookup database clearly identifies the name of the card holder, which will give signals to the website if the person who holds the card is the real owner or not. It does not mean that if the 6 digits match to what bin lookup database shows that the risk has been solved. There are other details to look into and one of which is the contact number of the bank where the card has been issued for further verification.
The 100% Support of Bin Lookup Database
Any scrutiny and question with regards to the bin lookup database can be answered by its providers and other long-time users of it. The fees may vary according to the bin lookup database provider but the same results are assured that all the data that will be generated after the searches are 100% accurate. It also implies that bin lookup database is updated everyday especially with every credit card being approved and released to the new card holders.
by: Gen Wright
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