Bank identification number
reference for Fraud Prevention and Reduce Chargebacks.
Fraud Score checks more than 15 fields that include history, address, geographical IP, email and bank identification numbers
to assign a numerical fraud score associated with each transaction.
The electronic approval process for check verification is done by feeding a check through an electronic reader terminal that identifies the customer's account number and bank identification number
or can be done by swiping a driver's license through a terminal that reads the personal information encoded on a magnetic stripe.
Data that is reviewed and compared includes shipping and billing addresses, Bank Identification Numbers
(BIN), phone numbers, email addresses, geolocation and IP addresses.
The Company has completed the implementation of its first Visa bank identification numbers