Do you know that with BIN checker, you can achieve a lot of things? Indeed, BIN checker does more than credit card fraud prevention. Below are some of the things that you can achieve with a BIN checker.
Credit card fraud prevention
The importance of credit card fraud prevention cannot be overemphasised. There is the tendency for businesses that have not experienced credit fraud to think that it is not real. But the truth is that credit fraud is real. There are different means through which it can be perpetrated. Counterfeit or bogus cards can be used to make transactions. If such card is not spotted out, order from the user will be processed and sent to him. At the end, the fraudster will get what he or she does not pay for and the company will lose money. Even a genuine card can get into the possession of a wrong user. So, not all transactions ordered and paid with a legitimate card is genuine. The reality of the above scenario highlights the importance of combating credit fraud with effective technique. One of the most effective means through which credit card can be combated today is the use of a BIN checker. With a BIN checker, you will be able to spot fraudulent transactions and deal with them. If you invest in effective and reliable BIN lookup database, you are establishing a strong fraud prevention standards and this in turn increase your earnings because you will not be a victim to chargeback.
Using a cvv BIN checker is a veritable means of accomplishing faster transaction. Before the introduction of BIN checker, orders were authenticated and validated manually and this could take long time to be accomplished. But with BIN checker software, you can verify the authenticity of orders and transactions in a matter of seconds. This means reduction in the amount of labour hours. Thus, you will have time to engage in other thing. In other words, you will cut cost on labour as well because you will not require more hands for verification and validation of orders. The use of BIN checker also implies that more and more transactions will be validated and approved in a day. You will make more sales and more money at the same time avoiding a chargeback as you will be able to spot fraudulent transactions.
Protecting the future of your business
Using a reliable BIN checker http://binchecker.com/ is a veritable means of protecting the future of your business. This is because with the software, you are able to prevent loss of sales which can take huge toll on your business as a result of chargeback. It can also result in loss of customers. Customers are discouraged from buying from a business that does not offer maximum protection to their personal account details. So, as more and more people are making use of cards for payment, any transaction you make can make or break the future of your business. You need to ensure that it makes it rather than breaking it by using BIN checker.