BIN is the 6 digits that you can find on credit card. BIN has got much relevance for the online vendors as it is the best means available for checking the validity of any transactions. There are so many BIN service providers who can give the online vendors access to the BIN database which has got all the relevant information for checking the validity of the transactions. The major issues that the online vendors face is the charge backs and such financial crisis due to fraudulent transactions. Here is how BIN database works so that things work fine.
BIN database checks for the validity of the transaction in real time and it is taken forward only when it is valid. If the card is rejected then there is no need to worry about the charge backs and such financial issues.
BIN database should be chosen with care so that you end up in hiring a highly reliable one. The database should comprise of highly accurate records which is possible only when the supplier updates the records regularly. The system that the online vendors have for payment should be integrated with database so that checking is done instantly. When the database works with your system, it provides the advantages of BIN checker and reduces the costs that might have incurred due to card thefts and frauds in a drastic manner.