A BIN record could be downloaded in Excel format to be utilized as a database, or it may be queried directly with an API. How can this work?
The BIN database, also popularly called the Bank Identification Numbers database, which is used for card confirmation. Any debit or credit card that’s issued by a financial institution will have its advice captured in the database. When found to be right, the trade will be accepted. If found to be incorrect, the trade will be rejected immediately.
As you can see, the database could be quite a helpful tool if you’re managing online transactions. What happens when the card that’s used happens to be stolen? With no BIN listing, you won’t ever understand – until the lender informs you of a charge back.
A charge back occurs whenever the legitimate card owner records a dispute with the lender. The lender is very likely to side with the customer. When that occurs, the bank issues a fee back and the money will be returned into the card owner. The merchant is going to need to put up with the cost back fees. What happens about the product that is already sent out to your client? The onus is on the merchant to receive it back. It is a path that many business owners prefer to avoid. At times, products can cost up to tens of thousands of dollars a trade, and the experience can be particularly debilitating.
To prevent such instances, a BIN database could be downloaded and utilized to stop card fraud. This is a frequent database structure and many programmers would have no troubles incorporating the database with all the rear end of an ecommerce site.
However, some business owners simply don’t need the bother of needing to update the database on a regular basis. For those business owners, they’ve got yet another alternative. They are now able to send inquiries directly into the database through an internet API.
The API is a superb alternative because company owners do not need to manage the database right. All upgrades are managed by the service suppliers. To use the database, just send a request with the API along with the service provider will yield an answer in XML format. It can sound a bit technical now, but it is really a simpler solution to implement in comparison to a database.