What is A BIN?
We’ll explain you everything about bins in detail so first let’s talk about what a bin actually is. A bank identification number, also known as bin is the initial four to six numbers that appear on a credit or debit card. The bin is a security measure developed by the American national standards institute to protect both consumers and merchants engaging in online transactions. It helps merchants evaluate and assess their payment card transactions and identify which bank the money is being transferred from, the address and phone number of the bank. I know it’s very hard to understand. Let me explain you with an example so when a customer makes an online purchase and enters his card details on payment page after him submitting the first four to six digits of that card the online retailer can detect which institution or bank issued the customer card. It gives info about card brand such as visa or Mastercard, the card type such as a debit card or a credit card and the issuing bank country. Now a lot of people get confused here and asked me about what they did wrong actually. The thing is that even when you’re using a working bin, you’ll have to match your ip address with the bin location otherwise you can’t card anything. That’s what a bin is for; it identifies your geographic location and matches it with the bank issuing that card. So now you guys might be wondering about how you’ll get to know about the bin location right. Let me help you!
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