What Will A Bin List Do For My Business?

By: Gen Wright

A bin list contains a list of bank identification numbers that can be used to check credit card numbers for credit card fraud or theft. A bin is the first six digits of a credit card that can be used to identify several things. A bin list is used as part of a database in a bin software program. Bin lists would be used by business owners typically, to find out if their customers are using legitimate credit cards for purchasing goods and services.

Using a bin list excel spreadsheet as a database for checking bin numbers will help eliminate the risk of credit card fraud. Credit card fraud has risen dramatically since more and more people are shopping online. The internet has made it so much easier for credit card fraud because so many people are very careless about using their credit cards and their personal information online.

Business owners worldwide can access a bin list online. This makes it very convenient for them to be able to check their customer's credit card information quickly and easily. Customers won't even realize that you are even checking their credit card information until it is too late.

Confronting a customer and telling them that the credit card they are using is not a legitimate credit card is a really hard decision for a retailer to make. However, in order to combat credit card fraud, it has to be done. You do have to be very careful how you approach a customer concerning credit card fraud because if you mistakenly accuse someone who is actually innocent, it could be a very costly situation for your business.

A credit card bin range list would be beneficial to not only to online businesses but any business that accepts credit cards from their customers. The internet is not the only place that credit card fraud and theft occurs, although it is where the majority of it happens.

Purchasing a binlist online will give you access to the different bin lists from credit card companies worldwide. Having a complete bin list with all the major credit companies worldwide would be beneficial to a business that does their business mainly on the internet. This would allow them to check all credit card transactions that they process. Checking all credit card transactions is vital in the fight against credit card fraud. It is a habit that should be reinforced with every employee who processes credit card transactions.

For a business that only deals with a certain credit card, such as American Express, Visa and Mastercards, they would only need a bin list for each of those. If a business only accepts one credit card, such as Visa, that business would only need a bin list for Visa.

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For more information on how you as a business entity can protect against such like losses check out bin ranges for mastercard or bin ranges for diners club.

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