How can merchants benefit from knowing the BIN?

Question

Accepted Answer

Knowing the BIN can help merchants route a transaction to a suitable provider and inform their risk management strategy.

Routing the transaction to a payments service provider with acquiring capabilities in the country of origin increases the chances of the transaction being authorized while reducing processing fees.
Merchants can verify that the country of origin matches the IP and billing address of the customer - cards being used for online purchases outside the country of origin can be an indicator of potential fraud.
Some merchants are restricted in who they can offer services to based on their geographic location. For example, a gambling site with a license for Austria may want to reject all payments from cards issued outside of the country.

BIN