Online business is really the easiest way to set up a business and is the one that can have a flow of income soon without much amount of expenses. The reality is that ease of setting up online business is only on the physical front but it is that niche which is much prone to fraudulent transactions which makes it important for taking care of all the possibilities to safe guard your business. BIN is really the best way one can ensure the safety of business with respect to online transactions. If you are making use of a BIN lookup then here are the pros you can enjoy as an online vendor.
Safety from Fraudulent Transactions
BIN provides the online vendors an opportunity to safeguard their business from the fraudulent transactions. BIN provides you information whether the card number entered is from a valid issuer and it is a valid transaction or not.
Protects from Chargebacks
If a card is lost and if it is used by somebody else and the customer raises a complaint then the issuer ensures that the transaction that has happened from the card is made void. If the vendor do not use BIN checker, then it is not possible for the vendor to know that it is an invalid transaction and thus vendor needs to pay back the amount received through the transaction.