subject: Undertake Secure Transactions Online With Bin List Database [print this page] You are leaving a gaping hole in the security platform of your business if you fail to invest in the right BIN list online. If you want to cut down on your losses due to fraudulent card transactions and chargebacks, it is extremely necessary that you institute a credit card validation setup that is anchored on the right BIN list software.
Businesses always have to contend with the dire consequences of fraud. There is not a single company on the face of the earth that has not dealt with clients who tried to commit fraud and steal from them. With the advent of card-based transactions, business owners and managers have to deal with security issues that go beyond the usual problems like pilferage, embezzlement and shoplifting. The modern times have brought about some serious security issues that stakeholders and managers have to address in order to maintain the viability of their business. Today, online merchants are left with no other choice but to adopt security and preventive measures in the face of the growing threat of fraud and credit card theft.
The Need for BIN List Download
BIN list search and BIN list database are important tools that the company can use to monitor and validate all transactions made through debit cards, gift cards and credit cards. It provides essential and critical data and information that are needed by the merchant in order to prevent possible fraud in online purchase and other related transactions involving credit cards and debit cards.
The credit card of a consumer doesn't have to be physically pilfered for it to be considered stolen. While this may be the most common way by which credit cards are stolen, modern technology has given rise to other ways by which shady entities can achieve their goal and gain access to critical information and data about your credit card account. Anyone can become victim of credit card theft through several ways. Fraudster can gain access to sensitive credit card details and even copy the information or lift the data from the magnetic strip at the back of the credit or debit card.
Minimize Losses Due to Frauds in Credit Card Transactions
Because of this high level of fraud, business owners and managers need to adopt a more reliable security protocol to filter out fraudulent card transactions and minimize losses as a result of chargebacks. You can no longer rely on the age-old method of running through the computer all credit card purchases. A credit card holder may not even be aware of it that his or her card was already stolen. Thus, it is incumbent upon business owners and manager to adopt a fail-proof system to weed out these fraudulent credit card transactions and purchases. This is the main reason why you have to invest in the right BIN list checker.
by: Gen Wright
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