Fact is most shops, including offline physical stores, today will find that impossible to run a healthy business without this tool. The aftermath of frauds is so horrible, not too mention so much time consuming and financial loss - the time that you would need to grow your business, and the profit you dearly desire to invest back to your store. Even the authority can not help much in the event of such activity... They may take a report or two. Chances are they will never find out anything. Thus, protect yourself, think twice before you decide to look the other way. It is wise to consider a good BIN software as part of the security platform of your business.
Some years back in the 90s, fraudsters can commit high level scams on credit & debit card transactions. They always seem to be on step ahead of authority force. Companies at the time had no way to effectively and quickly validate card-based purchases online or at the stores. In most instances, the companies would take time to check the cards by calling the issuer banks only if the banks around the world working and know what to reply. They also needed to record the users IDs just in case. It was such a process full of hassles, requiring many people of many levels involved but still resulted in high rate of frauds. No longer it is of today : with a good BIN application, business owners can now match and compare the presented information by the users to that of the card.
Now with the ability of near real-time processing of payment cards, companies are able to verify and confirm the purchases made though cards of all kinds: credit, debit, prepaid, gift, etc. Needless to say, it is critical that you find the right BIN lookup website. You can have some "test-drives" with the site on your personal cards to know how good they are. Seeing if the presented information is good for analysis. A reliable BIN list checker can be very crucial to credit card and debit card scams, which is essential to thriving your business.