Why your business needs trustworthy anti-fraud system?

By: Samantha Dale | Posted: 22nd December 2011

Business that thrives on online transactions needs trustworthy anti-fraud system to thwart shady business dealings that can become a nightmare for online merchants. The most dependable anti-fraud system that helps prevent online fraud takes the form of bank identification number database. Bank identification number is recognized by the six digits of a userís debit, credit or prepaid card number that is used during electronic transactions. An entrepreneur should get equipped with a professionally created bank identification number database to reduce chargebacks and to embrace the best fraud prevention measure in the bargain.

Bank identification number to reduce chargebacks

There are host of benefits that come along with an effective bank identification number database, where an online merchant can review transactions that sow seeds of doubts in an entrepreneurís mind, and check transactions that come from suspicious locations and suspicious institutions. With the aid of a potential bank identification number database, an online merchant can cancel transactions that carry risks of chargebacks, and reduce chargebacks in the process.

High customer chargeback ratio can eat into the profits of an online merchant as it can also tarnish the image of an online merchant. By checking transactions with the help of reliable bank identification number database, an entrepreneur can reduce chargebacks, and with it allay the fear of getting affected by high customer chargeback ratio.

Bank identification number database for fraud prevention

With online transactions increasing by the day, fraudulent transactions have also reared its ugly head to erode the profits of online merchants. An entrepreneur, with the aid of bank identification number database is better placed to differentiate a genuine card from the fake, and with the comprehensive details about the card and the card holder, an online merchant can deny online transactions that come with suspicious elements and get benefited from the best fraud prevention measure.

Moreover, when the bank identification number of a credit card points to a bank in one country, and the billing address of the relevant customer points to another, an online merchant should pay heed to the warning signal and check the authenticity of a transaction, made possible by an effective bank identification number database.

The online merchant can even customize bank identification number database to suit his business requirements and to use it for fraud prevention ideally, where banks that carry shady transactions can be weeded out from the system, and cards with address pertaining to a country that carries restriction with regards to exports can be excluded by making diligent use of this fraud prevention measure.

Bank identification number database is an ideal fraud prevention tool as it provides the right solution to deal with dubious orders. Orders, where the card is issued by a bank in one country and which gets used to ship products to a different country, can be screened with the help of bank identification number database before completing the transaction.

Bank identification number database as the ideal anti-fraud system

When an online merchant wants to put the best anti-fraud system in place, he should opt for the reliable bank identification number database, which serves as the best fraud prevention tool. The reliable and effective bank identification number database come with updated records of card users, which can be put to proper use to check the authenticity of the card and the user.

The wealth of details offered by the bank identification number database encompasses details of country in which the card is issued, details of the issuing bank, the card type, card subtype, and other relevant information that gets utilized to gauge the authenticity of an online transaction. As an authentic anti-fraud tool, bank identification number database helps an online merchant to get the better of miscreants who make use of fake credit and debit cards to pull wool over the eyes of online merchants.

Bank identification number to check Prepaid and Virtual Card Frauds

A prepaid card, a bank card loaded with certain amount by customers, is also prone to online fraud. The common scenario where unworthy elements making use of prepaid card without enough balance for rebilling purpose calls for critical screening of such prepaid cards. With the aid of an updated list comprising of prepaid and gift card bank identification numbers, an online merchant is not only embracing the best fraud prevention measure, but is also making sure to keep the miscreants at bay.

The best bank identification numbers database comes from sources that add records day in and day out. To offer the best fraud prevention tool, sources work in tandem with online merchants who possess the needed skills to identify cards from credit card collectors and scanned copies. With various features unveiled by the best bank identification numbers database, which include the facility of charging variable fees for credit and debit cards, an online merchant can reduce chargebacks and get equipped with the best fraud prevention tool to counter online fraud attempts.

If you are in quest of an accomplished ISO certified Credit Card Bin for preventing credit card frauds and verifying Bin Lookup, simply visit www.bindb.com. You are likely to access one of the most current BIN databases through this links.http://www.bindb.com/bin-database.html
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Tags: doubts, nightmare, profits, entrepreneur, digits, ugly head, seeds, card holder, business dealings, electronic transactions, prepaid card, fraudulent transactions