BIN or bank identification numbers are one of the most essential aspects of a credit or debit card holder. BIN database not just stores the bank information and identification but also one of its primary goals is to ensure the security of your card from fraud activities.
Suppose you are starting a business program. While the main goal for you to make a profit from the business you may also be concerned for fraud attacks to your site. People buying products from your site gives you their bank details. So you might make them comfortable by ensuring the highest level of security which is possible by looking after BIN numbers. Also, it is required to be able to detect fraud accounts to be a successful businessman.
No business organization can compromise with the security concerns. BIN databases give you the opportunity to check if the card number is valid or not. So installing a bin database software can help you solve the issue a lot.