How many times have you shopped online? There are many portals out there who provide you the best service and best products in the industry. Even if you go for shopping in real life, you cannot get those products. Thanks to the credit card system and their business plan to make this online transaction achievable. We would be in confusion which item to buy from online but that would be another episode. But we never step outside of home either in rain or in bright sunlight to buy our favorite things. Credit card give the option of paying in installments.
Because of credit cards, there has been increase in the rate of online shopping, around 70 percent of earnings or income comes from the use of credit card. This is the reason you must know about BIN check. It is very helpful in terms of online transactions or online money payment. If you look at credit card, you would understand what is BIN. It is the numbers printed on the credit card number usually contains about 4 to 6 numbers, it is very helpful for online transaction or detect the fraudulent transactions.
The numbers can help easily to identify the card is VISA or MASTERCARD. Every merchant would get the complete transaction details of the order that has been made online. If some multiple transactions were made, it would be noted in the card used by the user. BIN helps them to find whether the card is valid or not. It is also used to avoid from hacking the data or stealing the money. These days many illegal business happens over online that can be easily tracked, some of them could be dealing with drugs.
There has been many incidents with online frauds, one of them is when an elder man ordered goods from a shopping website. He was charged in his credit card but he didn’t get any items so far. He got shocked to know even after paying for the goods, he didn’t get any money or goods. This made him puzzled for long time and he reported to the bank. The bank authorities wanted to check his bank account and they finally found that his amount was deducted and he has not got the goods delivered to his name.
BIN is the only and fastest way to safeguard about money. It is the easiest way to save yourself from hackers. But we see many people not knowing about CVV and BIN, this is a tough situation. When you are online, your bank account can be easily hacked and it may be possible to many transactions from anymore. BIN checker can help you to identify the bank details and the possible transaction details.
Many fraudulent activities do happen online because of not having a secure BIN. Hackers can take advantage easily in hacking any money related transactions. One of them being the bit coin, which has lost around 65 million within a week time. Thanks to the creators of BIN, who have a strong knowledge on how to create a money management that is very secure and beneficial.