What is a Credit Card BIN Number and How to Check It?
What can you do with credit card BIN number? Let’s unlock the power of BIN in fraud detection!
What is a BIN number?
BIN which stands for Bank Identification Number is the first 6 to 8 digits on your credit card and it helps to identify the bank that issued the card. According to the standard, the first digit denotes the major industry of the card issuer. The rest of the numbers in the BIN corresponds to the organization which issued the card. Starting in April 2022, the newer eight-digit standard will take effect.
How to Check Credit Card BIN Information?
We can use a free BIN checker online to retrieve the credit card BIN information. I will use the FraudLabs Pro BIN Checker for this checking.
- Go to the BIN Checker.
- Enter the BIN number you want to check and then click on Lookup.
- View the Credit Card BIN information.
The detailed information includes the card brand, prepaid card, card type, issuing bank, and issuing country.
This information can be vital for verifying transactions and ensuring they’re legitimate.
How to Use BIN Number in Fraud Detection?
With the BIN number, you can determine which organization issued the card as well as the country where the card was issued. Using this BIN country info, we can match against the shipping or billing address in any online credit card transaction.
You can create a fraud validation rule for checking BIN country and billing country as shown below. If the BIN country does not match the country provided in the order detail, the online merchant should flag the transaction for manual review.
This can significantly reduce the risk of fraud for online businesses.
