How Does A BIN Database Work?
The BIN database is comprised of key data and information from a number of other merchants. Data is centralized and retained so that merchants can quickly perform BIN lookup searches on cards they receive in order to better and more swiftly identify cards that pose a high risk of fraudulent usage. In a matter of seconds, the BIN database can provide validation of a card – key in helping businesses fight against fraud.
Who Contributes To The Database?
The database is made up of information submitted by other merchants and from specific public sources about which cards, issuers and transaction types are most likely to lead to fraudulent activity. Because the database draws data from a large number of merchants covering a large volume of international transactions, our BIN database is the in-depth fraud prevention tool your business requires.
Is The Database Kept Up To Date?
The FraudAssets.com BIN database is monitored and maintained to reflect new BIN codes as they become available. This ensures that merchants can be satisfied if a search yields no actionable results that the data is as up to date and relevant as it possibly can be.
How Records Are Structured?
401719;VISA;THE CHELSEA GROTON SAVINGS BANK;DEBIT;CLASSIC;UNITED STATES;US
401719 – The BIN Number: The six digits at the front of the long card number, unique to issuing banks which identify the source of the card being used.
VISA – The Card Brand: The brand of card used, which merchants can factor in in determining whether or not they trust a particular card and the safeguards in place for tackling and preventing fraud.
CHELSEA GROTON SAVINGS BANK – The Issuer: The name of the issuing bank, which merchants can use to make judgements (particularly for larger transactions) as to the reliability of the fraud prevention and protection systems in place at the issuing bank.
DEBIT – The Card Class: Whether the card is a debit card, a credit card, a charge card or a prepaid gift card. Depending on the class of card being presented, merchants may have different levels of end liability, for instance with chargebacks, and so it pays for merchants to understand what each card class means for them.
CLASSIC – The Card Type: The specific product type in question, relative to the actual card type issued by the bank. This data can again be used to make judgements about the likely customer and the product they receive in respect of their credit or debit card, which in turn can help in assessments of fraud likelihood.
UNITED STATES – Country of Issue: Finally, the country in which a card was issued is displayed as the final marker of trust. Some countries are particularly high risk and have very little in the way of fraud prevention in place, whereas others have industry standard or better protection. As a result, knowing the originating country of a card is useful in gauging whether a fraudulent transaction may be taking place.
US – Country of Issue in ISO form: standard 2 symbols.
What Types Of Card Does The Database Cover?
Our BIN database contains records for all major card brands and types. Records are broken down into credit cards, debit cards, prepaid cards and charge cards, all of which are submitted and amalgamated into our database to offer you the fullest protection against rogue card use. All major card issuers are covered, allowing for the fullest possible scope of coverage.
Can I See A Demo Of The Database?
We have a demo of our BIN database available here
. Please note that while the demo should give you a feel for our database and how it can work for your business, it is limited in the number of records it shows, and access to our database generally means an ever widening selection of BIN data at your disposal. You can also download a piece of our database here
Can I Access Your Database Through My Existing Payment Setup?
Our database can be accessed through third party payment software thanks to our API, designed to enable business users to retrofit database functionality within their existing payment setup. This can help make it even easier to validate credit card transactions as they go through, and can automate the process of identifying high risk transactions and cards.
Why Do You Include IP to Country Database In Your Packages?
We strongly believe that BIN and IP database is a powerful combo which allows you to perform "BIN-to-Country" matching all-in-one. That's why we keep our IP database updated as well.
Why Do I Need FraudAssets.com?
If your business handles credit cards, you need FraudAssets.com and our comprehensive database to help eradicate the risks of your trading to fraud. With credit card fraud on the rise, and the costs for merchants continuing to escalate, our vast, up-to-date BIN database provides easy cross-referencing and allows users to validate BIN data within seconds.
How Many Queries Does Your API Key Include?
We provide API with a limit of 120000 queries per calendar year (10000 per month).
I Need To Test Your Services Before Making a Decision. Is It Possible?
Absolutely. Drop us a mail with your company information, and we can provide you with a test API key for 100 free searches.
Purchasing & Delivery
What Are The Licensing Options?
We offer two plans. Go with Plan "A" if you would like to `install both databases into your system, or plan "B" if you prefer to have all the files at your disposal and get access to our XML API.
What Does It Cost?
We offer plan "A" for $1200, and plan "B" for $1500. Both packages include free updates for two years. Further updates cost $300 per year.
How Will I Get My Data?
Regardless of package, you will get all the files by email. With plan "B", you will also have your API key along with the instructions.
To learn more about BIN prefixes, check this Wikipedia page.