In today's technical world if at all you are handling an online business and you are still not sure about having a bin base, you might be in deep trouble. Nevertheless it is never too late to take any security measures. This Bin number that is the bank identification number comprising of the initial six digits out of the sixteen numbers printed or embossed on the card. It gives you A-Z information about the bank's identity that includes the country where the bank it, banks identity, cards information related to its type and sub type.
Is it necessary even if you have a secured payment gateway?
Well that depends upon what type of system you have, it may or may not have the bin database validation process. The bin base is available in many parts individually or maybe you can buy that as a whole. You get AMEX card bin database, you get visa card bin database, Master card bin base, etc. So it is your choice which further depends upon how your website's transaction system functions.
The checking process
The bin database validation process is very simple and fast, when the user enters all the information the first six digits are automatically entered into the software and bin database validation process is carried out. If successful works in a normal way and if not then it signals the website with related information and immediately stop the transaction then and there itself.
This helps you understand the types of scams trying to attack your website and you can analyze on the loopholes your website currently has. Would not be that helpful in analysis of scams and online frauds, which is its secondary purpose, but it definitely performs its primary function very accurately that would not let any fake identity bank have an authority to make any transaction on your website.
What is more useful?
Generally observed, it varies from country to country and region to region with the types of cards the websites accept in order to make online money transactions. Visa bin database is one of the popular ones and most used. Visa bin base comprises of all the detailed information about the visa credit cards as well as the visa debit cards. This is more than enough if you only entertain VISA cards on your website to make any monetary transactions, else you might need something more than that.
A business looks at an investment with the ROI that is the return on investment associated with it, in this case you might not exactly find any returns, but definitely it would reduce your bad debts in your balance sheets. Might not seem that convincing initially and hence, you can have a look at the simple visa bin database to understand the importance and working on the bin database validation process. It is very simple to implement the code in your website and also it can be updated dynamically as and when the company's database is updated.
Is it necessary even if you have a secured payment gateway?
Well that depends upon what type of system you have, it may or may not have the bin database validation process. The bin base is available in many parts individually or maybe you can buy that as a whole. You get AMEX card bin database, you get visa card bin database, Master card bin base, etc. So it is your choice which further depends upon how your website's transaction system functions.
The checking process
The bin database validation process is very simple and fast, when the user enters all the information the first six digits are automatically entered into the software and bin database validation process is carried out. If successful works in a normal way and if not then it signals the website with related information and immediately stop the transaction then and there itself.
This helps you understand the types of scams trying to attack your website and you can analyze on the loopholes your website currently has. Would not be that helpful in analysis of scams and online frauds, which is its secondary purpose, but it definitely performs its primary function very accurately that would not let any fake identity bank have an authority to make any transaction on your website.
What is more useful?
Generally observed, it varies from country to country and region to region with the types of cards the websites accept in order to make online money transactions. Visa bin database is one of the popular ones and most used. Visa bin base comprises of all the detailed information about the visa credit cards as well as the visa debit cards. This is more than enough if you only entertain VISA cards on your website to make any monetary transactions, else you might need something more than that.
A business looks at an investment with the ROI that is the return on investment associated with it, in this case you might not exactly find any returns, but definitely it would reduce your bad debts in your balance sheets. Might not seem that convincing initially and hence, you can have a look at the simple visa bin database to understand the importance and working on the bin database validation process. It is very simple to implement the code in your website and also it can be updated dynamically as and when the company's database is updated.
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