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Posted on 16 Oct 2008

Using the bank identification number database is very useful because you can know fairly quickly if the card is in good standing or not. What is the BIN or IIN? The BIN is the bank identification number and the IIN is the issuer identification number. The BIN is the first six digits of the card number and it lets the BIN database know what card company the card is being issued from. The BIN is generally the same for the issuer that the BIN belongs to. The BIN is often referred to as the IIN. The IIN is the issuer identification number. The digits that follow the first six digits are the card identification number and are unique to the credit or debit card. These numbers are the same on all cards and are issued as an added security to make absolutely sure that your card is your card. Your card identification number isn't going to be the same with anybody else?s that is within your BIN or IIN issuer.

BIN or IIN database is a system that tracks and records all credit and debit card purchases through a networking system. More and more merchants and industries are using this system every day. The BIN or IIN database has become very popular among the online merchants. Online merchants are constantly losing money because of online fraudulent credit and debit card purchases. Why is it so hard for online merchants to be able to stop credit and debit card frauds? This is because some online merchants don?t use the BIN or IIN database. When the merchants don?t use the bank identification number or issuer identification number database they're taking a chance on being able to authorize the card. This is considered a gamble because by not using the database they're not one hundred percent sure that the card is going to be authorized. When the card isn't authorized then the merchant will have some loss. The card could have reported lost or stolen by cardholder or froze by the bank that issued the card. The BIN or IIN database can contact the issuer?s system through networking and the issuer can either accept or decline the card. This is important because it saves the merchant a lot of time. The database has access to the cardholder and the issuer?s information. This helps the online merchant to know whether or not the card is good for the purchase or not.

There is a BIN lookup that is available and it shows the issuers information. This is perfectly legal because credit or debit card fraud isn't an option by just know the issuer information. The BIN lookup also provides you with the issuer?s phone number. The BIN or IIN database was created to stop credit and debit card fraud. This database isn't only being used for buying. it's also being used for other transactions such as insurance. Insurance companies are using this system for faster and more accurate ways to be able to identify the customer with the insurance information. So as you can see, the BIN or IIN database is very important for the merchant, businesses and the consumer. Being able to run a BIN or IIN lookup is necessary and allows you to know what and where the card is about. Not to worry, the BIN or IIN lookup doesn't ask for the card identification number because that is too much information and with the rapid growth of technology eventually having this type of database will hopefully put an end to credit and debit card scammers.

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BIN Database is a service for online BIN Lookup. you've also the option to purchase the whole BIN database.