Bank Identification Number (BIN)
A Bank Identification Number (BIN) refers to the first six digits of a payment card number, including credit, debit, or gift cards. It helps to identify the issuing institution of the card and is used in various financial transactions to determine the card type, the card brand, and the country of origin. BINs play a […]
A Bank Identification Number (BIN) refers to the first six digits of a payment card number, including credit, debit, or gift cards. It helps to identify the issuing institution of the card and is used in various financial transactions to determine the card type, the card brand, and the country of origin. BINs play a crucial role in fraud prevention, as they assist in verifying the legitimacy of transactions and enable merchants and financial institutions to assess potential risks associated with card-based payments.
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