What is VBASS?
The Visa BIN Attribute Sharing Service (VBASS) is a specialized tool designed to enhance the payment ecosystem.
The service provides pertinent information related to bank identification numbers (or “BINs”). VBASS enables merchants, acquirers, and other stakeholders to access detailed attributes of a BIN, such as the card type, issuer information, and geographic details. This service helps streamline transactions, improve accuracy in transaction processing, and reduce fraud by ensuring that the correct information is associated with each BIN.
Developers can access multiple assets, including:
- Full BIN List
- Single BIN Lookup
- BIN Files Metadata
- BIN File Transfer APIs
To obtain this data, you must register with Visa and pay the associated service fees. A licensed acquirer or issuer can assist organizations in joining the VBASS program, contingent on Visa’s approval and specific conditions. Prior to onboarding, Visa will review the project to ensure the APIs are utilized correctly.
Ultimately, VBASS supports more efficient and transparent payment operations across the global financial network.
What Data is Provided by VBASS?
VBASS provides data through two primary methods: the Single BIN Lookup API and the Full BIN List API.
The Single BIN Lookup API is ideal for individual transactions, allowing stakeholders to retrieve detailed information for a specific BIN. Conversely, the Full BIN List API offers a comprehensive list of BINs, providing a broader dataset for more extensive analysis and operational needs.
Visa offers varying levels of detail through three tiers: Basic, Advanced, and Complete. This enables users to select the appropriate depth of information required for their specific use cases. Each tier ensures that merchants, acquirers, and other stakeholders have access to the data that best supports their transaction processing and fraud prevention efforts.
Basic Level
This level is unique in that it exempts users from any program fees. Users only need to complete the Visa Developer Platform (VDP) Agreement and pay the onboarding fees, with no additional registration required.
Advanced Level
This level encompasses many of the essential issuer BIN attributes, including account funding source, product ID, and issuer country, as well as many data points not available to users at the “Basic” level.
Complete Level
The most comprehensive option, this level includes all the data points available in the Advanced level, plus additional details such as the account funding source subtype and the issuer’s name.
Why Use VBASS?
Using VBASS offers significant advantages to businesses by enhancing transaction efficiency and bolstering fraud prevention efforts.
With access to detailed BIN information through the various service tiers, businesses can more accurately identify card types, issuers, and account funding sources. This precision not only streamlines transaction processing but also enables more effective risk management by flagging potentially fraudulent activities before they impact operations.
Additionally, businesses can enhance customer experiences by leveraging the comprehensive data provided by VBASS. Customers will see faster checkouts and fewer declined transactions, thus fostering trust and loyalty.
Overall, the robust insights delivered by VBASS empower businesses to make informed decisions, optimize payment processes, and maintain a competitive edge in the market.
Getting Access to VBASS
VBASS is available to merchants through direct or indirect access.
This means you receive VBASS data directly from Visa. By setting up an account with Visa and subscribing to the service, you can obtain real-time data updates. This direct integration allows VBASS data to seamlessly flow into your systems, ensuring you have immediate access to the most up-to-date card information.
If direct access is not your preferred option, you can still take advantage of VBASS through third-party service providers that have partnered with Visa. These providers offer platforms and services with VBASS data already integrated, making it convenient for merchants who prefer utilizing a provider’s tools or seek to have VBASS data as part of a more comprehensive suite of services.
Indirect access is particularly beneficial for smaller merchants who might not have the technical resources to establish direct access. But, even larger merchants may find it easier to go the indirect access route.
Ultimately, VBASS can provide valuable insights into potential issues such as currency conversion problems, recurring billing challenges, and authorization declines. These are all common factors that often lead to disputes.
By offering this early warning system, merchants can address these challenges proactively, preventing them from escalating into customer service problems and transaction disputes. While VBASS cannot completely prevent chargebacks, it can play an important role in your overall chargeback prevention strategy.