Prepaid, Gift and Virtual Cards Detection
How and why you need to filter out transactions from disposable cards.
BinDB can currently identify over 6,400 different Prepaid, Virtual an Gift cards. Making it impossible to check the credit history of the buyer, prepaid and gift card related fraud generates millions of dollars of losses every year. Another danger is when people sign in for recurring online services. A common scenario includes a person signing up for a service after pre-loading the initial balance needed for signup, however once he used the service for a month, the prepaid card does not contain enough balance for re-billing.
Prepaid CardVery similar to a regular debit card, however the main difference is it is not connected to your checking account.
The Prepaid needs to be preloaded from the user and allows to spend only the preloaded amount.
Regular debit cards which are connected to a checking account may use overdraft ( if the bank account has it enabled ) to allow spending more than the funds in the checking account.
Prepaid cards also split in two sub-categories "Reloadable" and "Non-Reloadable".
Reloadable prepaid cards can be used multiple times where non-reloadable cards cannot be used once the amount of funds is exhausted.
Gift CardGift cards come with a preloaded amount of funds and can only be used once.
They are generally designed to be given as a gift to a person, who can spend the amount to buy a gift of his choice.
Although a great idea, those cards are virtually anonymous and provide no information for their owner to the payment processor.
It is important for many businesses to deny purchases or transactions with gift cards such as recurring services, rentals etc...
Virtual CardThe virtual cards are a type of Prepaid cards which are generated online by the bank or company that issues the card. They can also be two types based on their properties:
- One-Time-Use Virtual Cards
Some banks provide a service for generating a different card number each time the client wants to make a purchase.
This is good practice for protecting the card number from theft, however poses issues for the payment processors.
Often banks and financial institutions issue a virtual one-time-use card on the same BIN as your credit/debit card.
- Multiple-Use Virtual Cards
Some issuers allow you to keep the virtual card number for multiple use ( recurring billing services etc. ).
Those virtual cards are slightly more reliable for payment processors and online businesses, however are still considered a risk.
ConclusionIn general online businesses and service providers want to have a firm payment relations with their customers.
This is something which prepaid/gift and virtual cards do not allow.
By using such disposable cards users are putting a virtual wall between the online business and their payment source.
This is where your business can say NO to pre-paid funding sources and cut down the risk of failed recurring payments and anonymous fraud cases.
BinDB's BIN databases provide a constantly updating reference for identification of all known pre-paid/gift and virtual cards on the market.
We have extracted a short sample of BIN records identfying the cards described above.
|370266||AMEX||SERVE RELOADABLE PASS CARD||DEBIT||PREPAID||US|
|372741||AMEX||SERVE RELOADABLE CARD||DEBIT||PREPAID||US|
|375150||AMEX||BLUEBIRD BY AMERICAN EXPRESS AND WALMART||DEBIT||PREPAID||US|
|403995||VISA||NETSPEND ISSUED BY METABANK||DEBIT||PREPAID||US|
|410489||VISA||RUSHCARD ISSUED BY BANCORP BANK||DEBIT||PREPAID||US|
|456534||VISA||ACCOUNT NOW ISSUED BY METABANK||DEBIT||PREPAID||US|
|467726||VISA||NEXTWAVE ISSUED BY PEOPLES TRUST COMPANY||DEBIT||PREPAID||CA|
|473622||VISA||LIQUID CARD ISSUED BY JPMORGAN CHASE BANK N.A.||DEBIT||PREPAID||US|
|484735||VISA||VANILLA GIFT ISSUED BY THE BANCORP BANK||DEBIT||PREPAID||US|
|486270||VISA||HERITAGE BANK LTD||DEBIT||PREPAID||AU|
|530446||MASTERCARD||PCS CARD ISSUED BY PREPAID FINANCIAL SERVICES LTD||DEBIT||PREPAID||FR|
|531306||MASTERCARD||SKRILL CARD ISSUED BY WIRECARD CARD SOLUTIONS LTD||DEBIT||PREPAID||GB|
|531445||MASTERCARD||PAYONEER CARD ISSUED BY CHOICE BANK LTD||DEBIT||PREPAID||BZ|
|533157||MASTERCARD||EUROSET KUKURUZA BY CENTER OF FINANCIAL TECHNOLOGIES||DEBIT||PREPAID||RU|
|541275||MASTERCARD||OPT PLUS ISSUED BY ALL TRANS FINANCIAL SERVICES C.U.||DEBIT||PREPAID||CA|
|541592||MASTERCARD||NETELLER by CONISTER BANK LTD.||DEBIT||PREPAID||GB|
|544856||MASTERCARD||GOOGLE WALLET ISSUED BY BANCORP BANK||DEBIT||PREPAID||US|
|524825||MASTERCARD||WALMART MONEY CARD ISSUED BY GREEN DOT BANK||DEBIT||PREPAID||US|
|375142||AMEX||TENCENT HOLDINGS TENPAY||DEBIT||VIRTUAL||CN|
|377149||AMEX||UNITED OVERSEAS BANK LIMITED||DEBIT||VIRTUAL||SG|
|410162||VISA||ENTROPAY ISSUED BY BANK OF VALLETTA||DEBIT||VIRTUAL||MT|
|415059||VISA||LA BANQUE POSTALE||DEBIT||VIRTUAL||FR|
|419973||VISA||VELOCITY ISSUED BY REV WORLDWIDE INC.||DEBIT||VIRTUAL||AU|
|489049||VISA||QIWI BANK (JSC)||DEBIT||VIRTUAL||RU|
|524877||MASTERCARD||HDFC BANK LTD.||DEBIT||VIRTUAL||IN|
|530343||MASTERCARD||NET1 CARD ISSUED BY BANCORP BANK||DEBIT||VIRTUAL||US|
|553412||MASTERCARD||HOOROO PTY LTD/GE CAPITAL||DEBIT||VIRTUAL||AU|
|533935||MASTERCARD||ECOCARD ISSUED BY PSI-PAY LTD.||DEBIT||VIRTUAL||GB|
|541591||MASTERCARD||NETELLER ISSUED BY OPTIMAL PAYMENTS LTD.||DEBIT||VIRTUAL||GB|
|372300||AMEX||SIMON GIFT CARD||DEBIT||GIFT||US|
|372301||AMEX||BANK OF CANADA||DEBIT||GIFT||CA|
|379019||AMEX||TRAVELERS CHECK CARD||DEBIT||GIFT||US|
|401366||VISA||LAKE TRUST CREDIT UNION||DEBIT||GIFT||US|
|431568||VISA||VANILLA ISSUED BY THE BANCORP BANK||DEBIT||GIFT||US|
|472926||VISA||VANILLA ISSUED BY PEOPLES TRUST COMPANY||DEBIT||GIFT||CA|
|511340||MASTERCARD||VANILLA ISSUED BY PEOPLES TRUST COMPANY||DEBIT||GIFT||CA|
|529275||MASTERCARD||THE STATE BANK CARD ISSUED BY METABANK||DEBIT||GIFT||US|
|544148||MASTERCARD||R. RAPHAEL & SONS PLC||DEBIT||GIFT||GB|
Below you can see a short visual reference of some gift and prepaid cards