A credit card bin database list can add so much quality to the life of your business, but many make the mistake of overlooking its benefits.
At least, they do until they get burned the first time on a plastic transaction. You don't want to overreach when it does happen and stop taking credit card payments altogether. But to make sure that it doesn't happen again, the only alternative is to invest in a database service with your best interests at heart. Here are the top benefits of this type of list. Before you decide to go it alone, look at each one and ask yourself whether you can really live without these advantages: Increase online transaction securityDoing business online is an essential part of boosting your revenue. Without a willingness to expand your horizons and be more inclusive in the amount of transactions you process, it'll be hard to reach full potential. But the online world can be really difficult with all of the hacker and security threats. A reliable credit card bin database list like BinBase or ExactBins can ensure that your information remains current and useful at all times of operation - even in the online world.Reduce fraud riskWhether you run a brick and mortar store, an online, or both, you're going to encounter fraud risk. And the bigger you get, the bigger the risks are. To reduce them, you really do need a company like the ones mentioned above, or an even larger database like the kind you'll find at BinDataSet or FraudAssets. These databases offer multiple checkpoints for verification on more than 700,000 records (combined total). They're also capable of letting you know right away whether you're dealing with a debit card, credit card, prepaid card, or gift card. It's better to know before money changes hands whether you can trust it, and these companies get the job done.Prevent chargeback costsEven with smaller and less complicated services like the kind you'll find at Bin2Country, you can greatly reduce or prevent chargeback costs altogether. While B2C doesn't offer the same meticulous instant verification of card types and the like, it does use multiple checkpoints to ensure that the form of payment you are accepting is legitimate and compatible with your system. If you can show that product has changed hands for an agreed upon price, then you will not face the chargeback penalties that so many unprotected businesses endure. A credit card bin database list can go a long way in ensuring that your business never gets burned again by a fraudulent transaction. But before you decide which level of service is the right one for you, make certain that you have examined your business and its specific needs.
A quality credit card bin database provider will provide you with the best information for the long term survival of your business. With a bin database provider, you no longer have to worry about getting stuck with fraudulent transactions. Visit our site to learn more.