A bin database is a collection of bin numbers. Bin numbers are the first six digits on a credit card representing the bank from which they were issued. A bin range database contains the numbers associated with each credit card company. A Discover bin database will differ from a Visa bin database because the first six digits of a Discover credit card will be unique to them and will differ from the Visa bin numbers. Using a bin database program makes it easy to find the different bin numbers associated with each credit card company.
Some credit card companies issue credit cards in several countries around the world. A UK bin database would be used by a business in the UK, and an American business would use a different bin database. Each credit card company has a different bin number for each country in which it processes credit cards.
There are bin database free software downloads on the internet, but bear in mind that the free programs are usually just demos. You should purchase the full version of the software so that you get a complete bin database file. Some of the demos only come with a partial database, and this is really not very good if you process a lot of credit card transactions from different countries around the world. You will want to ensure you have a proper bin database with which to work.
Quite a few different bin database software programs are available for purchase on the internet. The one thing you want to watch for when purchasing a bin database checker is to make sure that once you buy the software, you get frequent updates to their bin databases to make sure your product is up-to-date and ready to check against any credit card that you need it to check. There will always be new credit card companies or products with a credit card company that will be issued, so an up-to-date bin database is an absolute must.
If you process credit card transactions for various credit card companies, you will want to make sure you are using a bin database for that credit card company. For instance, if you process credit cards from Visa and Mastercard, your database needs to contain both Visa and Mastercard bin numbers; otherwise, you will not be able to check credit card transactions for fraud or theft. If you only accept Visa and Mastercard credit cards and your database only contains bin database Mastercard and Visa card bin database, then you will be fine.
Preventing fraud and credit card theft is the number one concern of most business owners these days because the number of credit card thefts worldwide is staggering. It is easier to take a few minutes at the time of the transaction to make sure the bin database matches the credit card information.