![]() ![]() Why would a French consumer have an American card if they are buying from China? Is there some kind of family relation between the buyer and the receiver of goods? Is there a cross business situation at hand? Understanding how a consumer came to possess any type of debit or credit card, and their connection to the bank that issued that card will greatly reduce the possibility that a merchant will process a payment on a stolen credit card. If the IP address is coming from France, and the shipping address is to United States but a BIN check shows that the bank that issued the card is from China that should draw a red flag for a merchant. Let’s say that a French consumer is purchasing a good from an American website. Understanding the identification of a bank is a critical step in stopping fraud. The following numbers then specify the exact account that the consumer has with the card issuer and does not relate to the merchant as those numbers are for their tracking purposes only. ![]() These first six numbers are what a merchant would look up in a Bank Identification Number (BIN) check. 8 – Healthcare, telecommunications and other future industry assignmentsĪfter the first number, the following five numbers are included as part of the ‘Issuer Identification Number’.7 – Petroleum and other future industry assignments.6 – Merchandising and banking/financial.3 – Travel and entertainment and banking/financial.2 – Airlines and other future industry assignments.0 – ISO/TC 68 and other future industry assignments.As represented by this chart below (credit to Wikipedia), almost all consumer cards used in an online purchase will have a 4 or 5 in the beginning of a card. It represents the ‘Major Industry Identifier’. The first number on a card is arguably the most important. Regardless though of what it is called, it is as good of an identifier as a person’s name on a card, and is a crucial step in stopping online fraud. An exact BIN check can go by several other names, such as ‘Industry Identification Number’ or simply ‘credit card number’. BIN stands for Bank Identification Number, and it exists for merchants to help validate the card that a consumer is presenting for payment with the bank that issued that card. Today we are going to talk about BIN checks. Those numbers on every credit and debit card issued in America is in fact a highly organized and regulated set of identifiers unique to every card. Those 4×4 groupings of numbers that every consumer enters into a website checkout to make a purchase. Welcome back for Part 6 in our series, The Top Ten phrases in the fraud industry (and what they really mean!) What are credit card BIN checks?Ĭredit card numbers. ![]()
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