Saturday 31 October 2020

Why use a bin checker?

 

Every payment card either debit or debit comes with a bank identification number. Other payment cards like charge cards, gift cards come with a number that is engraved on the card. The first or initial six digits on the card is very important as the six digit is the bank identification number. A bin checker can give details about the numbers on each of these cards when the first six digits or the full card number is inputted on a bank identification number checking platform. the first digit of the bank identification number is very significant as it is a major industry identifier; it is a pointer to the industry where the card is used majorly.

Cards that begin with 1 and 2 as the first digit of the card are airline cards and cards used in other future assignments and industry. 3 and 4 are cards for banking and financial industry respectively. Cards that begin with 6 is used in the merchandising and financial industry. Gas industry cards begin with 7 as well as other future industry. Cards used in the healthcare and telecommunications start with figure 8. National standard bodies make use of cards that begin with digit 9. All these can be verified and seen when the card number is inputted on the bin checker.

The bank identification number can be of benefit to commercial businesses that is done on online platforms. Web store owners, online malls can beneficiary of the information it provides. Information such as the card service (visa or MasterCard), card category (virtual card or physical card), card type (gift card or any type of card) and institution of issuance that issued the card can be very useful to these businesses to prevent occurrence of scam or frauds. It prevents fraud by cross-checking data such as the address of the issuer with the address of the owner of the card if they match. By doing this, impersonation can be checked as well as identity theft by the bin checker. Click here to know more about #bin checker.

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