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Are You Supporting the Latest MasterCard BINs?
by Jerry Lake, Product Manager
Some of the credit card brands call it a BIN (Bank Identification Number), others called it an IIN (Issuer Identification Number), but however you refer to the first six digits of a credit card, you need to keep your configuration up to date to make sure you can continue to accept newly issued cards and mobile wallets.
MasterCard
For MasterCard, you likely already have BINs 510000 through 559999 defined, but did you know that in 2014, MasterCard began the process of supporting a whole new block of 2-series BINs? BINs 222100 through 272099 are now approved for MasterCard issuance, with the requirement that all components of payment processing be ready to support them by this month. Financial institutions may issue 2-series MasterCards by the beginning of 2017.
Discover
Discover’s IINs are far more checkerboarded, with currently 20 different IIN blocks, covering not only their own brand, but other cards in their global network, like Diners Club International, as well as their Alliance Partners, such as China’s UnionPay, Japan’s JCB and many others. Because the lists are always changing, search Discover’s website for IIN ranges. In recent years, the Discover Network IINs have been expanded to include 65-series IINs, to support mobile wallets such as Apple Pay and Android Pay.
And while these trends are more elevated in retail than attractions ticketing, research shows that a guest who has a card rejected in a Cardholder Present scenario is less likely to return to that merchant, and for e-Commerce, many consumers will abandon their shopping cart when their preferred payment option is not available or fails.
Make sure you’re not missing out on revenue by having your system administrator check your venue’s credit card configuration.