What does an IP address indicate?

It is comparable to a postal address or phone number. It identifies devices (e.g. smartphones, laptops, or other computers) and allows them to communicate with one another. An IP address also reveals a customer’s current location (i.e. where they are accessing the Internet).

What does a BIN express?

A BIN consists of the first six digits of a (typically 16-digit) credit card number. A BIN reveals the bank that issued the card and its country of origin.

Online merchants can perform IP/BIN checks while defining which combinations of countries are acceptable for different payment methods. If a particular combination correlates with an especially high risk of fraud, they can completely block all associated transactions in their shop or require the customer to use a different payment method.