A Bank Identification Number (BIN) is the initial six digits of a credit or debit card number. It serves to identify the financial institution that issued the card and the card brand (Visa, Mastercard, Amex, etc....).
BINs help travel companies assess the card type and issuing bank, aiding in fraud detection and transaction approval processes.
Fraudsters may use stolen cards with valid BINs, requiring businesses to implement additional security measures.
Felloh leverages BIN data to enhance fraud detection and transaction approval processes, ensuring legitimate bookings are processed smoothly for travel businesses.
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Felloh’s Open Banking payments initiate a bank transfer from your customer’s bank account directly to your business’s bank account, along with booking reference data for easy reconciliation.
