BIN Checker: What Information Does It Contain?

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As implicit from the name, BIN checker is software built to verify or check the information contained by a BIN of plastic card for the purposes of matching them with the information provided by consumers when they make payment with their credit cards. Indeed, a BIN contains useful information about the issuer of a card that it can be dubbed the DNA of a card. Before providing you with an insight into the information contained by a BIN, it will be good for me to first explain briefly what a BIN is all about.

A BIN is an acronym for bank identification number. It is a term developed by the International Organisation for Standard in collaboration with the American National Standards Institute. It is also called issuer identification number abbreviated as IIN. The number refers to the first 6 digits of a plastic card number known as primary account number. The BINs of some brands of plastic cards contain only four digits. Regardless of the number of digits contained in a BIN, they all serve the same purpose and record the same information. Primarily, the BIN records information about the issuer of a card and not about the owner of the card.

The information contained in a BIN

  • Major Industry Identifier

Plastic cards today are not issued by banks alone. There are cards issued by institutions from different industries such as airlines, travel and banking industries. The BIN tells you the industry the issuer of your card belongs to. It is the first digit of the card that provides you with this information.

  • Card Brand

As already hinted above, plastic cards are today issued by different institutions from different industries. So, we have different brands of cards. The popular ones are MasterCard, Visa, Discover, American Express and others. The BIN tells you the brand of card you are using. For example, if you hold a plastic card whose BIN number starts with 4, it is a Visa card but if it starts with 5, it is a MasterCard.

  • The Issuer of the card

If you are using a very good BIN checker, it should tell you the name of the issuer of your card, that is, the particular bank or business that issues your card.

  • Card’s Type

There are different kinds of plastic cards that can be issued by plastic card issuing institutions. They include debit, credit, prepaid, gift cards and others. Payment can be made with each of them depending on what is accepted by the buyer. A BIN checker will tell you the type of card used by a consumer.

  • Category of card

Each brand of card has different categories of card for consumers to choose from and each category has different packages. For example, MasterCard has various categories of card including standard, gold, titanium, platinum, world and world elite. Each of them comes with different package and gives different benefits even though they belong to the same brand. A BIN checker will tell a merchant the category of card used by a consumer.

  • Country of issue

The number for the issuing country appears as the ISO number. It is normally a three-digit number that stands for the issuing country.

  • The URL of the issuing organisation
  • The phone

Note that not every BINdb contain all these pieces of information. How comprehensive the information contained is depends on the BIN lookup service you are using.

Bank Identification Number For Guiding Against Online Fraud

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The internet is an epoch-making and a gigantic invention that has changed the way we do things in the contemporary society. It could be regarded as the man-made virtual world. Today, almost all commercial and economic activities can be carried out through the internet. This explains why more and more businesses are going online and doing transactions through the internet. Though, there are eWallets through which goods and services bought online can be paid, plastic cards remain the most popular among them all. It can be used both for online and offline transaction. However, despite its popularity and wide use, it is also very risky to use it. Using it requires high level of diligence. If you are not careful with it, credit card fraudster can steal your money.

It is not only the card owners that are affected. Businesses are also affected in a number of ways. If a consumer complains that some amount was deducted from their card for transactions they did not authorize and you were the recipient of the money, in most cases, the law requires you to pay them back their money. This is what is called chargeback. So, it is necessary that you do everything possible to protect your business against credit card fraud. Efforts are being made to combat credit card fraud which is on the increase nowadays. One of the ways that you can control credit card fraud is by using a BIN checker. If you have not started using it or if you don’t know what’s it, keep reading to know more.

What is a BIN checker?

A BIN is an acronym for bank identification number. It refers to the first 6 digits of credit, debit or gift card as well as any other type of plastic card. It is also called issuer identification number because apart from banks, there are other institutions that issue plastic cards. With this number, you will be able to determine the issuer of a card, the brand of a card and location of the issuer. As implicit from the name, a BIN checker is software for checking the BIN of a card. The software contains a database of BINs. There are a number of such software programs todays with differing sizes of database and functionality.

How can a BIN checker be of help to you?

Using a BIN lookup can really help you to avoid online fraud or being slammed with a chargeback. Normally, consumers provide their billing address and card details when they make payment before transactions are approved and order sent. With a BIN checker, you will be able to find out details about the issuer of the card such as the location, the type of card and address. When you get this information, you match it with what a consumer provides. If it does not tally, there is a problem somewhere. You may decline the order or take stricter measures before authorizing the other. In this way, you will protect your business against a possible chargeback which can weaken your business financially if there are many of them.

An Insight Into BIN Checker

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Every plastic card is identified by a group of number called primary account number which is commonly referred to as the card number. The PAN comprises of different parts described by ISO/IEC 7812 which is a document of International Organisation for Standards. The PAN generally contains information about the card owner and issuer of the card. Each part of the card gives a unique type of information. The BIN is the part of the primary account number that contains information about the issuer of the card.

Overview of the BIN

The BIN of every card number consists of six digits (there are some brands and types of card that has four BIN). They are normally the first set of digits that appear on the primary account number. It is initially called bank identification number commonly known for its acronym BIN. But nowadays, plastic cards are not issued only by banks. There are other institutions like the American Express that issue plastic cards. Thus, some people prefer to call this part of the PAN Issuer Identification number (IIN). The two terms are now used interchangeably. The BIN does not only apply to credit cards. Other plastic cards such as debit, charge, prepaid, electronic benefit and gift cards also have BINs.

What records does the BIN contain?

As hinted above, the IIN is the part of the card that contains information about the issuer of a plastic card. Each issuer identification number tells you the name of the issuer, the location of the issuer, the brand and type of card you are using. For example, if a consumer is making paying for orders with a credit card, the merchant will be able to find out from the BIN of the number.

Plastic cards can be issued by a number of industries including airline, travel and banking industry. The number that specifies the industry that issues a card is called the Major Industry Identifier (MII). It is usually the first digit of a IIN. For example, the first digit of all MasterCard’s BINs is 5 while those of a Visa is 4 indicating that they are issued by different industries. The remaining five digits (three digits) of a BIN contains records about the issuer as well as the brand of card you are using.

How does the BIN work?

Developed by the International Organisation for Standardization in collaboration with the American National Standards, the BIN helps businesses to find out the bank the money paid to them is being taken out from. They are also able to find out the phone number and address of the bank. Having this information helps merchants to control credit fraud. The merchant will match the information provided by the consumer and the one contained in the BIN. If the card is used from a location and address different from what is contained in the BIN, there may be some issues with the transaction. The BIN also verifies if the amount of the money in the card is up to the selling price of the item being paid for. This process is very quick.

BIN Checker

BIN checker is software that contains a database of BINs which helps merchants to obtain the detailed information contained by BINs of plastic cards used to make payments by their customers for the purposes of matching them and spotting out inconsistency which signal fraud.

The Benefits of Using BIN Base

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Are you running an online business or do you receive payment with credit cards? If the answer to this question is yes, it is essential that you learn about BIN and start using it for order processing as it will give your business a lot of benefits especially helping you to prevent credit card fraud and to protect your business against chargeback. Based on statistics, the rate at which credit card fraud is increasing is quite alarming nowadays. The only reason why businesses and individuals are still using plastic card today is because using it is very comfortable and much easier than other methods for both the person making the payment and the person receiving it. Despites the numerous benefits obtained from the use of credit card, it is also risky. It can be stolen. There is also the possibility of credit card fraudsters getting credit details of your consumers and making purchases with their cards. This can affect your business as you will be slammed with chargeback. But you can save your business as well as your customers from credit card fraud by using BIN base lookup.

BIN list database is a type of software that searches and brings up the information contained by the BIN of a credit card so that merchant can match them with the information provided by their customers when they make payment. Here are the various benefits using such cards gives businesses.

  1. The first benefit you will get from the use of BIN is that it protects your business from paying chargeback. The law guiding chargeback for most card favors the customers. If unauthorized purchases are made in their name, they can file for a refund or chargeback which means that business will have to pay all the money illegally deducted. Such losses can result in the loss of huge and eventual collapse of company. With a BIN, you will be at alert and guide against such ugly occurrence.
  2. Using BIN List checker makes you more reliable before customers. Consumers will trust your business and come to you, if they know that you have the right tool to protect them against credit card fraud. On the contrary, no consumer will purchase things from business that offers little or no protection against credit card fraudster
  3. Using it is a veritable means of protecting your customers against credit card fraud. Nobody will have a peace of mind if their credit card is used without their authorization. If their credit cards details are protected and cannot be used by anybody, they will be comfortable making payment for their purchases with credit cards.
  4. Given the rate at which credit card fraud is increasing today, there is a need for everybody to join hand in uprooting the evil from the society. One of the ways you can contribute your quota in the fight against plastic card fraud is to make use of BIN list database. Credit card fraudsters will stop their evil if they cannot purchase anything with other people’s card details.

Features to Consider Purchasing a BIN List

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BIN List is in vogue. Many businesses are using  it to verify the authenticity of a consumer making payment with a credit/debit cards or some other types of plastic cards before confirming the order. BIN which is a short word for Bank Identification Number is also known as issuer identification number abbreviated as IIN. It is the first 6 digits of a plastic card’s number (the digits can be more or less than 6 in some brands and types of plastic card) which tells more about the issuer of the card. From the number, you can find the brand and type of card you are using, the issuer and their location. Merchants look up these pieces of information in order to match it with the information provided by a buyer to ensure that the owner of the card is using it. If a buyer provides information that contradicts what is on the card, then it is a sign that something is wrong. The software that contains database of different card BIN and their information has been built today and this is what is referred to as BIN list.

As normal with any software, BIN list is now available in different types with varying strength and quality. If you want to purchase or install a BIN list, it is essential that you look out for the best. There are a number of factors that you should take into consideration before you make your choice. Here are the factors to look into before opting for one.

Regular daily updates

Plastic card issuers are still making new cards for existing and new customers. Though, credit/debit cards are very popular today, not everybody has it. Besides, some people lose theirs and request for new ones. In other words, credit card companies are still getting requests for new card. It is therefore important to have a BIN database that updates itself on daily basis or as cards are issued. In this way, your BIN list will contain the BINs of newly issued cards.

The genuineness of the entries

Don’t just purchase any BIN database available on the market. A lot of BIN lists use computer-based algorithms to obtain the IIN list. Some of them may end up producing empty or blank entries. It is better to go for one that contains authenticate entries without generating any blank space.

Huge database

The BIN software programs available today are not of the same size. Some IIN list have more entries than others. It is good that you purchase one that has a long list of BIN in the database. If you have plenty of transactions to complete on daily basis, then you should have a BIN list with huge database.

Accuracy of Records

Another important factor to consider when deciding on which BIN list to download is the accuracy of the record of the BIN. This is very important and it has to do with the quality of software. A quality product is expected to have accurate records.

Other factor to consider are:

  • Ease-of-use
  • Simplicity
  • Fastness