Bin Ranges For Visa Can Be Found

By: Gen Wright


BIN stands for Bank Identification Number; these are the first six digits, which appear on the credit card that is being issued. Anyone will be able to tell a great amount of information based on these numbers. If you are a merchant that is dealing your goods on the internet, use this to your advantage and guard yourself against scams or frauds. The information that can be found on the internet regarding the card is very detailed. You will be able to tell what kind of funding type the card is using. Credit, debit or prepaid cards are clearly listed out for you to see.

Doing a more detailed screech on the bin numbers, you will also be able to tell the sub type of the card. There are many different types of sub cards in the world, which includes, visa, master or diners. These are just different types of cards, which come from different financial companies. You will be able to tell if the person, which is trying to make a purchase is using a visa, just from running a bin number check. Visa seems to be widely used and they have certain measures to keep things safe.
Fraud cases have been on the rise over the years, very little has been done to stop or prevent these cases from being solved. The biggest problem is the fact that people think, this is a harmless prank. This is far from being harmless, when the industry is losing millions of dollars from these frauds every single year.

That amount has only been increasing and even worse, it has not even started to slow down. If you are a merchant, don't add to that amount and safeguard your business against frauds today, you do not want to lose time and money over this.

If you are the victim of a fraud case the sad truth of the matter is that, it will be better to forget about it and move on. Your product cannot be recovered since the person that has scammed you, is most probably gone and there is no way, to track that person down. The banks will never pay a cent and if you go to a court of law, you will find that their lawyers will always end up being right. As a merchant you will be the one, cleaning up the mess from all this.

I personally feel that this is not right and the banks should step up in their efforts, to make things safer for merchants on the internet. Why should merchants, which are selling real products, be punished for something that the banks overlooked? Prepaid cards that are created by the banks are the source of the loopholes that criminals exploit. Instead of solving this problem, the banks have been more intent on getting their money back. The worst thing about all this is that scam artist and fraudsters, are still using this method to get away with their crime. They should be the ones that are punished, not the merchants.

Article Directory: http://www.articletrunk.com

| More

Now you know about the importance of visa bin ranges. To find out whether it will be useful for your business, try visa bin ranges lookup lookup.

Please Rate this Article

 

Not yet Rated

Click the XML Icon Above to Receive Industry Articles Articles Via RSS!


Powered by Article Dashboard