Today, many businesses both online and offline businesses receive payment via credit cards. However, due to the wide acceptability of plastic cards, there is increase in fraud carried via these cards. There is a need for online merchants to also verify the credit card information of their customers before authorizing orders for shipment. BIN lookup is a veritable means through which these data can be obtained. With a BIN checker credit card service, you will be able to find out not just the country of issuance but also the basic information about the issuing bank or issuers. BIN checker will give you the following data about your credit card.
Knowing the bank that issues a credit card
Normally, credit card companies work in collaboration with banks that issue people with plastic card. However, when payment is being made online with a card, the issuer information is not normally provided. A credit card BIN (which is also referred to as a credit card issuer identification number) service is a service that will help merchants to find out the name of the bank that issues a credit card to a customer. If you have a bincheck, you can search its database to see if it contains useful information about the bank that issues it.
Finding out the card type
Credit cards are available in different types. Each brand has its own type such as classic, gold or electron. Ordinarily, it will be difficult for merchants to find out the type of cards their customers are using. But with a simple BIN lookup, one will be able to obtain such information. A BIN checker will also help you to know the brand of card your customer is using. There are different companies that issue plastic cards today. Popular brands are Visa, American Express, MasterCard and others.
What is the issuing country?
BIN checker also reveals the country where the card is issued from. Normally every card comes with some digit numbers. Each of these numbers contains some important information about the card. The 3 digit number that appears as ISO (International Organisation for Standardization) number is the one that tells about the issuing country. If you are not sure of the country where the card being used for payment is being issued from, you can look it up from a BIN checker database. BIN checker also shows the A2 Code and A3 Code of the issuing country. These codes provide more information about the card being used.
It is of crucial importance that you know the issuing country. Today, credit cards are issued in many countries. Some businesses do not honor orders from certain countries. Knowing the issuing country will help you to decide whether to accept a transaction or not.
Why do you need this information?
Obtaining these pieces of information will help you to discover fraudulent transactions. If the information provided by the consumer does not match what the BIN of a card shows, it is an indication that something is wrong somewhere.