Remember that checksum we mentioned earlier?
Bank Identification Number (BIN) Definition
This is the simple algorithmic check that generates it. It is great for catching typos on cards and saving sales in real-time, and is generally built into most e-commerce platforms or easily added. This is your first line of defense and costs nothing. Good, immediate error messaging to your customer is the most effective way to save a sale from a bad typo.
BIN Checker | IIN Search
The Luhn check does little to protect you from stolen and fraudulent credit cards, as it is easy to create numbers that can fool this simple check. AVS requires you to connect with the credit card companies, through their merchant processing portals to perform a real-time check.
It compares the address on file for the credit card to the address entered at the time of the order. However, it is prone to both false positives most stolen cards are acquired with valid addresses and false negatives legitimate cards with user typos , where the risk of lost sales can outweigh its fraud prevention benefits. These validation services are often low-cost ways to guard against false negatives, where we can correct the address before submitting for AVS, helping preserve legitimate sales.
This check can normally be performed through the merchant processor with the card issuer, where the card is validated to ensure that the account is real, has not been flagged for fraud or theft, and that funds are available. This check is often used in parallel with AVS. Based on data returned from the BIN look-up, brand, card type, sub-type, issuer, country , you can create business logic on how you want to handle each scenario, particularly high-risk ones.
For example, you can:. In cases like these, you have options such as asking for a different card in real-time, or escalating the issue to your customer care team to call the customer directly before shipping product or providing service.
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It is important to note that whenever fraudulent cards are used, the merchant loses. The customer of a stolen credit card is not on the hook, and the credit card companies generally do not take the hit. However, the merchant is usually out the product or service supplied, as well as the resources it takes to discover the fraud and fight the credit card company.
BIN Checker Brings the Best Solution to Prevent Online Fraud
And if too many fraudulent transactions happen, you can incur higher processing fees, expensive chargebacks, or even ultimately lose your merchant account and your ability to do business. But you can mitigate these risks with the help of a little automation — and we can help! Under either name, here are some fun facts about the BIN , courtesy of Sapling: Most true credit cards start with a 4 or 5, signifying financial institutions.
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Other values of this first digit are reserved for other types of issuers such as airlines, gas stations, and retailers. The bank identification number is a unique number which can be used to search a bin database to check credit card information and thus prevent online credit card fraud.
Bank identification number checker
This service uses a bin database which provides the following information: the name of the company who issued the credit card the country where the credit card was issued the credit card brand MasterCard, Visa, American Express what kind of credit card it is debit, credit the credit card level platinum, premium, corporate etc. Please enter the Access Code as displayed above. For problems or assistance with this site, send an email to Mobilefish. Bank identification number checker.