Payment card BIN files

Traditional consumer fraud protection tools are, mostly, based on geo-location. But merchants can get additional fraud protection capabilities if they use payment card BIN files. First 6 digits of a payment card number (or, to be exact, the range these digits belong to) are a source of data, which a merchant can and should use. The data includes maximal PAN length, card type, card class, issuing bank, issuing country, PIN capability of a card, and a bunch of other useful information. So, by filtering some types of cards a merchant can save on their processing. And, again, BIN file can be an effective additional fraud protection tool.

Read more about BIN files and BIN ranges in the respective article on #Paylosophy. If you have any questions you can certainly contact us.