Bank Identification Number (BIN) or Issuer Identification Number (IIN) is the six digit number on a bank card which gives details regarding the issuer of the card. It retains information about the lender, the nation where the lender is located, card manufacturer (for example, Visa, MasterCard etc.) and card type. Whenever someone makes a purchase, the system identifies the issuer together with the card BIN number. This amount helps identify the dependability of the transaction.
Who Needs a BIN Database?
Whether you are a tiny online company or a financial service supplier, a charge card BIN database list can help you protect your internet transactions and lessen the danger of fraud. It permits you to track daily transactions and saves you in a financial loss that may be occur from card charge backs.