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🔢 Deep Dive: BIN (Bank Identification Number) in Card Payments

🧩 What Is a BIN?

BIN, or Bank Identification Number, is the first 6 to 8 digits of a payment card number. It uniquely identifies the institution that issued the card, allowing payment networks (like VisaVisa visa A leading global payment technology company connecting consumers, businesses, and banks. or MastercardMasterCard mastercard A global payments network enabling electronic transactions between banks, merchants, and cardholders.) to route transactionsTransactions transactions Interactions where value is exchanged for goods or services. accurately between acquirers, issuers, and processors.

In 2022, BINs expanded from 6 digits to 8 digits as part of a global shift led by ISO and card schemes to address the growing demand for unique BINs driven by the rise of fintechs, virtual cards, and digital walletsDigital Wallets digital-wallets Applications or platforms (like Apple Pay, Google Pay) that store payment card data securely and allow users to pay digitally..

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🧭 BIN Structure Example (Pre-2022 and Post-2022)

Card Number	Digits 1–6	Digits 1–8	What It Means
4212 34XX XXXX XXXX	421234	42123456	Identifies issuerIssuer issuer A bank or financial institution that issues payment cards to consumers. Responsible for authorizations and chargebacks. bank, scheme, and product
5378 65XX XXXX XXXX	537865	53786572	Mastercard credit card from issuer X

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🧑‍🏫 Who Assigns BINs?

BINs are assigned and managed by card schemes under ISO/IEC 7812. These are the same entities responsible for regulating the card network:

• Visa BIN Info
• Mastercard BIN Services
• American Express BIN Info
• Discover BIN Guidelines
• UnionPay BIN Info

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📋 Common Card Schemes and BIN Ranges

Card Scheme	Typical Starting DIGITS	BIN Range Reference	Examples
Visa	4	Visa BIN Range	400000–499999
Mastercard	51–55, 2221–2720	Mastercard BINs	530000, 540000
American ExpressAmerican Express american-express A global financial services corporation offering credit cards, charge cards, travel-related services, and merchant acquiring.	34, 37	Amex Support	370000, 340000
Discover	6011, 65, 644–649	Discover BIN Migration	601100, 651000
UnionPay	62	UnionPay	622126–622925
JCB	35	JCB Official	352800–358999

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💳 BIN Types by Card Product

Different types of cards use specific BINs depending on their functionality and risk profile:

Card Type	Common Use Case	BIN Type
Credit	Borrowing line extended by issuer	BINs flagged as credit in scheme directory
Debit	Linked to a checking/current account	BIN flagged as “DDA”/debit
Prepaid	Gift cardsGift Cards gift-cards Prepaid cards issued by retailers or card networks that allow purchases up to the value loaded on the card., travel cards, fintechFintech fintech Short for financial technology, refers to tech-enabled innovation in financial services. walletsWallets wallets See Digital Wallets.	BINs with prepaid flag set
Virtual	Wallets, app-based BNPL, one-time-use	Often fall under existing credit/debit BINs with subranges

Note: The BIN database also contains metadata such as country, currency, card level (Classic, Gold, Platinum), and issuer name.

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⚙️ How BINs Are Used in the Payments Flow

1. Transaction Routing:
   When a card is swiped or entered online, the acquirerAcquirer acquirer A financial institution or payment processor that manages the merchant account, enabling businesses to accept card payments. Acquirers receive all transactions from the merchant and route them to the appropriate issuing bank. or gatewayGateway gateway A service that authorizes and processes card payments for online merchants. Examples include Stripe, Adyen, and PayPal. reads the BIN and sends the transaction to the correct card network.
2. Risk Scoring & FraudFraud fraud Criminal deception involving unauthorized payments or use of financial credentials. Prevention:
   Fraud detection engines use BINs to check geolocation, card type, and risk flags.
3. BIN SponsorshipBIN Sponsorship bin-sponsorship An arrangement where a financial institution allows another party to use its Bank Identification Number for issuing cards. (BaaS):
   Many fintechs use a BIN sponsor—a licensed issuer who leases BIN access under regulated arrangements.
4. MerchantMerchant merchant An individual or business that accepts payments in exchange for goods or services. Decisioning:
   Merchants may apply rules (e.g., decline prepaid cards for subscriptions) based on the BIN.
5. Regulatory & Tax Mapping:
   BIN data helps identify the issuing country to determine VAT/tax or apply cross-border fees.

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🧠 Quick BIN Tips for Payments Professionals

• Always check BIN metadata for compliance, especially in cross-border or regulated markets.
• If issuing new cards via BaaS, secure a dedicated BIN or BIN range for better control.
• Use BIN intelligence tools (e.g., Binlist, Mastercard’s MRS, Visa’s VMM) to enrich transactions and reduce fraud.

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🔚 Conclusion

BINs may look like just a few digits, but they’re a foundational element in how modern card payments work. From routing and risk scoring to product definition and partner arrangements, understanding the BIN ecosystem is critical for anyone in fintech, acquiring, or card issuance.

As the ecosystem continues to expand—with 8-digit BINs, virtual cards, and embedded finance—mastering BIN logic is essential for smooth, compliant, and secure payment operations.

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Would you like me to add a downloadable BIN lookup table or a sample BIN routing flowchart as part of this post?