Relevance of BIN to Consumers
Bank Identification Number is something of great importance in the niche of ecommerce. This is an era where we rely on internet for most of the transactions thus making BINs very important. BIN is the first six digits that are there on your card which is used for identifying a card. BIN provides with so many information related with the card that include the issuer of the card, the type of it, the country from which it is issued and so on.
Customers are always in the threat of facing frauds and getting targeted by the identity thieves. It is really hard to deal with when your money is stolen using a debit card. With credit cards things are different and debit cards deal with real funds and when they are gone it is really a hard time. You can still fight for them but is going to be hard time. The businesses that make use of BIN checker are doing great favor to the customers as any suspicious activity will be notified through their card issuer. This can make the customers stay alert and take necessary actions if they feel that the card is compromised. BIN thus makes things more safer for the consumers while they are doing some online transactions.
Doreatha H. Salmons
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