| Using the bank identification number database is very | | | | is going to be authorized. When the card is not |
| helpful because you can know fairly quickly if the card | | | | authorized then the merchant will have some loss. The |
| is in good standing or not. What is the BIN or IIN? The | | | | card could have reported lost or stolen by cardholder |
| BIN is the bank identification number and the IIN is the | | | | or froze by the bank that issued the card. The BIN or |
| issuer identification number. The BIN is the first 6 digits | | | | IIN database can contact the issuer?s system through |
| of the card number and it lets the BIN database know | | | | networking and the issuer can either accept or decline |
| what card company the card is being issued from. The | | | | the card. This is important because it saves the |
| BIN is generally the same for the issuer that the BIN | | | | merchant a lot of time. The database has access to |
| belongs to. The BIN is often referred to as the IIN. The | | | | the cardholder and the issuer?s information. This helps |
| IIN is the issuer identification number. The digits that | | | | the online merchant to know whether or not the card |
| follow the first 6 digits are the card identification | | | | is good for the purchase or not. |
| number and are unique to the credit or debit card. | | | | There is a BIN lookup that is available and it shows the |
| These numbers are the same on all cards and are | | | | issuers information. This is perfectly legal because |
| issued as an added security to make sure that your | | | | credit or debit card fraud is not an option by just know |
| card is your card. Your card identification number is not | | | | the issuer information. The BIN lookup also provides |
| going to be the same with anybody else?s that is | | | | you with the issuer?s phone number. The BIN or IIN |
| within your BIN or IIN issuer. | | | | database was created to stop credit and debit card |
| BIN or IIN database is a system that tracks and | | | | fraud. This database is not only being used for |
| records all credit and debit card purchases through a | | | | purchasing. It is also being used for other transactions |
| networking system. More and more merchants and | | | | such as insurance. Insurance companies are using this |
| industries are using this system every day. The BIN or | | | | system for faster and more accurate ways to be |
| IIN database has become very popular among the | | | | able to identify the customer with the insurance |
| online merchants. Online merchants are constantly | | | | information. So as you can see, the BIN or IIN database |
| losing money because of online fraudulent credit and | | | | is very important for the merchant, businesses and the |
| debit card purchases. Why is it so hard for online | | | | consumer. Being able to run a BIN or IIN lookup is |
| merchants to be able to stop credit and debit card | | | | essential and allows you to know what and where the |
| frauds? This is because some online merchants don?t | | | | card is about. Not to worry, the BIN or IIN lookup does |
| use the BIN or IIN database. When the merchants | | | | not ask for the card identification number because that |
| don?t use the bank identification number or issuer | | | | is too much information and with the rapid growth of |
| identification number database they are taking a | | | | technology eventually having this type of database will |
| chance on being able to authorize the card. This is | | | | hopefully put an end to credit and debit card |
| considered a gamble because by not using the | | | | scammers. |
| database they are not 100 percent sure that the card | | | | |