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What is non vbv bin?
Non VBV bins are a category of Bank Identification Numbers (BINs) that do not participate in the Verified by Visa (VBV) authentication process. These BINs are assigned to various issuing banks and are used to identify the financial institution that issued a particular credit or debit card. Unlike VBV bins, which require an additional layer of authentication during online transactions, non-VBV bins are employed in transactions that do not necessitate this extra verification step.
In the landscape of payment processing, non VBV bins serve a distinct purpose. They are frequently utilized in environments where merchants prefer a simpler checkout experience or where the risk of fraud is considered manageable. For instance, recurring billing setups or transactions involving low-value items are commonly executed through non VBV bins. The rationale behind this preference lies in the balance merchants seek between security and customer convenience. By opting for non-VBV bins, merchants aim to reduce cart abandonment rates that may arise from extensive authentication procedures.
Furthermore, certain payment gateways may choose to operate predominantly with non VBV bins to cater to a broader range of merchants, particularly those in industries with higher transaction volumes or diverse customer bases. This can facilitate faster processing times, as there is no need for additional steps tied to the VBV authentication process. However, the use of non
VBV bins does carry its own set of risks, as transactions conducted without VBV verification can be more susceptible to fraud. It is crucial for merchants to weigh the benefits of ease-of-use against the potential for increased chargebacks and fraudulent activities. Therefore, understanding the implication of using non-VBV bins, as opposed to their VBV counterparts, is vital for informed decision-making in payment processing strategies.