subject: How Credit Card Bin Numbers Stop Online Pirates [print this page] There is always the risk out there that you can be a victim of identity theft or fraud. Fortunately the businesses that care about their consumers are putting services such as the credit card bin lookup into their security system. Online pirates, the kind that steal for profit using credit cards and even generated card numbers that are designed to let them make purchases but never pay.
Whenever there is a risk of consumers losing access and control of their own credit cards and having wild charges being made left and right, it is the responsibility of the businesses to stop the pirates from advancing and actually making their mark and hitting paydirt. Businesses can use a credit card bin to verify purchases to stop such pirate activity from getting through to the consumer.
Accessing a Credit Card Bin Service to Hunt Down Pirate Attempts
Businesses that want to make a mark on the pirate's attacks on security can easily control the way they accept charges with their own services. By requiring credit card bin number checks with each transaction, they can easily screen out a great deal of the problematic charges that make their way into the stream of normal sales. It is often unusual to see a large sale made with items that may not match a normal buyer's cart within an online service transaction. An example would be several sets of a very expensive electronic music system. These types of charges are extreme and require real investigation to be made into the charge to ensure that it is not something that the buyer really did not want. They may be a victim of identity theft which can be halted at least for now, as the credit card bin catches the verification failure of the transaction.
A credit card bin is not difficult to understand. It is a simple six digit number located at the front of the credit card number. By using a credit card bin checking service, a business can easily get information about the card and can even see if the bank that is associated with the credit card number even exists. With a few more tools available on most credit card bin service websites, any business can identify the buyer and alert their bank about the strange behavior. The bank would then contact them to control the situation and understand whether or not the buyer really wanted the service.
Any business that cares enough to work with the credit card bin services that are available for a small fee have the best interests of their consumers in mind. Coincidentally it can help them save money from unnecessary chargebacks made by consumers that reverse charges that were made without their permission. A credit card bin can easily catch these types of charges and will reduce the number of chargebacks that are received. A very useful option to take part in is accessing the credit card bin service for verification of everything done without a physical card and buyer available instead.
by: Gen Wright
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