The introduction of credit, debit and gift card is a welcome development regardless of the increase in the cases of credit card fraud. However, effort is made to eliminate the menace of credit fraud. One of such efforts is the introduction of BIN checker database. BIN is a short form for Bank identification number. BIN base refers to a database that provides detailed information about a BIN of a credit, debit or gift card. From such a database, merchant can match information provided by shoppers and the actual information in the card. If there is any discrepancies, they can put the transaction on hold or to a stricter scrutiny and investigation. Many software developers have come up with their own BIN checker databases but these databases are not of the same quality. So, if you want to purchase a BIN checker database, it is important that you go for a quality one defined to a greater extent by its features. There are some features to check out given their importance in BIN verification. Here are some important features to look out for in this regard.
Structure that are easily parsed
A good BIN checker database should have a structure that is very easy to be analyzed or parsed. Normally, from a BIN checker database, you should be able to find out the bank identification number of the card, the issuer (the bank or organization that issues the card), the type of card being used, its subtype and the country from where it is issued. As a user of a BIN checker database, you should not encounter any difficult in finding out these pieces of information or analyzing the structure of a card. So, when it is time for you to purchase a BIN checker database, go for a type with easily parsed structure. This is what makes a database to be user-friendly.
It is important that you choose a database that does daily update or that update itself on daily basis. New banks are being established on daily basis. Besides, owing to the competitions among banks, new services and sub-card types are being introduced on regularly basis. Thus, if you purchase a BIN checker database that does not update itself on regularly basis, it means that it will not be comprehensive as it will not contain any new sub-card type, service and new banks.
A good BIN checker should have a large database. With a large database, the BIN list will contain thousands of records. This feature is very important especially if you have plenty of transactions on daily basis as you will be able to monitor each transactions differently. It can be frustrating and annoying if you discover that your bin list does not contain the card you are searching for. But on the contrary, if your BIN checker database has the cards you are searching for, you will have a feeling of joy about it.
Fast BIN Lookup
Time as it is said is money. So, a good BIN checker database should deliver quick and fast lookup so that you will not waste any time when searching for information from your BIN database.
Genuine and accurate records
Purchase a BIN checker that gives accurate, reliable and genuine records. Don’t purchase a BIN checker that has automatic lists or that generates BIN checker list using computers. Such BIN checkers sometimes give blank entries.