Bin Number Lookup Gets The Job Done When You Need It
Are you getting your clock cleaned by charge-backs and administrative fees? Performing a BIN number lookup can put a stop to those fees and put you back in control of your business.
Revolutionary BIN lookup software has become a standard for business all across the globe. In other words, a person who processes electronic transactions online will greatly benefit from using a BIN lookup service to monitor each transaction, anytime of day on any continent.
The credit card industry is largely responsible for creating the term BIN. It's the acronym for Bank Identification Number.
When you perform a BIN number lookup the focus will be on the first six numbers on credit cards. It's assigned to banks and card issuers in order to properly route all electronic transactions.
Not only will the BIN lookup database give you information on credit cards, but you can also check the validity of debit cards issued by banks, gift cards and prepaid credit cards.
You can find the BIN number on the back of all cards as well, strategically placed inside the magnetic stripe. A debit BIN lookup, gift or prepaid card lookup works in the same way as a credit card lookup.
As you begin your research for a provider, keep in mind that there are a good deal of card issuers and you want to make sure the BIN number lookup provider supports the card types you process the most.
The most common card issuers you'll be processing transactions for include: Visa, MasterCard, American Express (Amex), Maestro, Discover, China Union Pay, Diners Club, JCB
Switch/Maestro, Laser, Solo and even certain kinds of fuel cards from companies like Exxon.
The BIN lookup should be as user friendly as possible. Because you are likely to use the service several times daily, you want to make sure your staff is able to access the BIN look up system with no problem.
Be mindful of the type of license you purchase because each will have its own limitations and terms of service that must be followed.
There are typically a couple of options to pick from for you BIN lookup table. You can either buy a single license or a universal license. There's a difference in price as well as benefit and features.
Take the time to think about what your business needs in order to get the right license. For instance, if you plan to only assign one employee to work on your BIN number lookup and don't need all the bells and whistles, a single license my suffice.
However, if you process hundreds of transactions daily and have more than one employee who will need to access the system, a universal license may prove to be more beneficial.
Now you know for sure that accessing a high quality BIN list can breathe new life into your business. Do a simple test drive of a BIN checker demo to get a feel for how the service works and what benefits and features you need the most.
by: Gen Wright