It also helps in the reconciliation of transactions done with the credit card and the refunding of the loans by the cardholder. But as for a credit card, since the credit card issuer was involved in the transactions, it is always easy for the credit card issuer to provide the statement of past transactions that have taken place. Imagine you are using a debit card and you are charged for the services you do not know about, if at the end of the day you report the case to your bank, it may take time for the transaction that took place to be detected. The use of a credit card helps the cardholder to keep tracks of past transactions he had made using the credit card. Thus, using a credit card is convenient in its function and its usage by the cardholder. The credit card also allows an individual to withdraw cash from his credit limit and is expected to pay back at the end of the month. A credit card also enriches the standard of living of cardholder who thinks he is unable to afford some things based on his current pocket structure.
It enables the individual to have the opportunity of enjoying conveniences as if he was paying for the goods or services at that present time. Using a credit card makes purchases easy for a credit cardholder even if he has no cash on him at the present time. If the total modulo 10 is equal to 0 (if the total ends in zero) then the number is valid according to the Luhn formula else it is not valid.Īssume an example of an account number "7992739871" that will have a check digit added, making it of the form 7992739871x: If the result of this doubling operation is greater than 9 (e.g., 8 × 2 = 16), then add the digits of the product (e.g., 16: 1 + 6 = 7, 18: 1 + 8 = 9) or, alternatively, the same result can be found by subtracting 9 from the product (e.g., 16: 16 − 9 = 7, 18: 18 − 9 = 9). The check digit is not doubled the first digit doubled is immediately to the left of the check digit. This number must pass the following test:įrom the rightmost digit, which is the check digit, and moving left, double the value of every second digit.
#Fake credit card numbers full#
The formula verifies a number against its included check digit, which is usually appended to a partial account number to generate the full account number. It was so effective that the percentage of mistyped sequential numbers could not be implemented. Most identification numbers such as credit card numbers, IMEI and even government number system uses this formula. Is a mod-10 checksum formula that generates number sequence that is designed to protect against accidental errors or malicious guessing of credit card numbers.
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