If you can’t find the information that you’re looking for regarding the merchant services, payment gateways and payment processing in general on daily basis, please use the button below to ask us a question. All your questions about payments are welcome and they will get answered as soon as possible (5-7 business days).
Thanks for the answer. And how can I obtain the listing of BIN numbers for credit and debit cards in order to better know my customers?
In general, the key advantage of card BINs is that, based on credit card BIN numbers, a business can gain better insights into its customer portfolio. Particularly, a merchant business can find out, which types of cards are used by its customers (credit cards, debit cards, gift or reward cards) and which countries these customers come from. Consequently, for example, most frequently used foreign cards, and issuing banks, whose card transactions result in numerous declines and chargebacks, can be identified. Based on information, “extracted” from credit card BINs, businesses can prevent credit card fraud, plan their credit card processing strategies, and, thus, optimize the process, in order to achieve higher profitability.
There are two ways to get card BIN numbers. Card BIN databases can be purchased online, from various web-sites. However, new card BIN ranges become utilized fairly often, so there is a common practice of getting those from the acquirers that a business uses for its merchant services. For example, First Data has a file that it can deliver to its respective merchants to get updated card BINs on weekly basis.
