Using various types of cards to pay is becoming prevalent, particularly credit cards.
Unfortunately, the technological advancement that allows us to monitor our balance in real-time, make transfers, or pay online has also made card fraud or theft a regular occurrence. But not everything is evil; technology also protects us and informs us about our cards.
Some technologies allow us to check the authenticity of a given card, for example. Banks, retailers, and financial organizations employ these tools.
In this post, we’ll look at the benefits and reasons why businesses should consider incorporating a Transaction Validation API into their systems, as well as our recommendation for the finest alternative on the market. This API might help firms in a range of industries, from fraud protection to improving user experience. In addition, several common use cases for this API will be investigated, as will certain business opportunities.
What Exactly Is A Transaction Validation API?
An application programming interface that allows developers to validate and authenticate credit card numbers is known as a Transaction Validation API. It is a technique used by shops, banks, and financial institutions to validate a credit card number and identify the kind of card and issuing bank.
The Transaction Validation API checks the provided credit card number to a set of criteria and methods to determine whether it matches the expected format, has the correct check digit, and is issued by a known issuer. The API will return information such as card type (for example, Visa or Mastercard), issuing bank, and country of issue.
To eliminate fraud and unlawful purchases, online organizations and merchants typically use Transaction Validation APIs. They are used by financial institutions to authenticate cardholder identities, assess credit risk, and identify fraudulent activities. The use of a credit card checker API lowers the risk of financial losses as a result of fraudulent transactions and increases overall security for both the cardholder and the retailer.
What Transaction Validation API Can Assist With Credit Card Verification?
After evaluating numerous possibilities on the market, we can declare that we identified one that, due to its functionality and ease of use, is one of the finest current options.
Credit Card Validator – BIN Checker API from Zylalabs is this alternative because, as said above, it is an API that has worked extremely well for us and is quite simple to use even if you don’t know much about it.
How Does The Credit Card Validator – BIN Checker API Work?
The consumer will send the credit/debit card (Bank Identification Number) or IIN (Issuer Identification Number) to acquire the whole data.
You must input a BIN (Bank Identification Number) – the first 6 digits of a credit/debit card – to retrieve the entire data of this BIN in JSON format.
The validity of the card, whether it is a VISA or MASTERCARD, the issuing bank, and the card’s issuing location will be sent to you.
For example, if we use this endpoint to enter the BIN number “448590,” the API will respond with the following:
{
"success": true,
"code": 200,
"BIN": {
"valid": true,
"number": 448590,
"length": 6,
"scheme": "VISA",
"brand": "VISA",
"type": "CREDIT",
"level": "PURCHASING WITH FLEET",
"currency": "USD",
"issuer": {
"name": "JPMORGAN CHASE BANK, N.A.",
"website": "http://www.jpmorganchase.com",
"phone": "1-212-270-6000"
},
"country": {
"country": "UNITED STATES",
"numeric": "840",
"capital": "Washington, D.C.",
"idd": "1",
"alpha2": "US",
"alpha3": "USA",
"language": "English",
"language_code": "EN",
"latitude": 34.05223,
"longitude": -118.24368
}
}
}But, of course, the most crucial question is… how can I acquire it?
1- Navigate to Credit Card Validator – BIN Checker API and click the “START FREE TRIAL” button to begin using the API.
2- You will be issued your unique API key after registering in Zyla API Hub.
3- Check the BIN number using the API endpoint.
4- When you’ve reached your endpoint, perform the API request by hitting the “run” button and viewing the results on your screen.
Related Post: Which Is The CC Checker API With More Complete Details?