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8 Digit Update
Bank Identification Numbers (BIN) uniquely identify networks, issuers, and other important information across the payments ecosystem. A continuous supply of BINs is necessary to ensure a sustainable, safe, and secure global payments ecosystem, enabling growth and innovation in an increasingly digital world.
8-digit IIN/BIN is based on the changes to the international standard for IIN/BIN assignments due to increasing BIN demand across the entirety of the electronic payments ecosystem. This has brought about the need for the extension of BINs from the first 6 digits of a Primary Account Number (PAN) to the first 8 digits of a PAN, with no change to PAN length.
What is changing?
- Visa and Mastercard are expanding their BIN Mandate from the current 6-digit BIN structure to an 8-digit BIN structure from April 2022.
- From April 2022, any new BINs issued will be 8-digit BINs.
What is not changing?
- PAN Length will remain same as today
- Account Ranges will remain at 11 digits (Mastercard) & 9 digits (Visa) as they do today. Mastercard & Visa have strongly recommended all Issuers move to 8-digit BINs and account ranges to implement the latest in payment technologies.
- Payment Card Industry (PCI) Compliance Rules: the number of digits we will display will remain the same.
- Existing Merchant IDs and Acquirer ID numbers will not change
- Paysafe has conducted a thorough assessment of its systems, and to date, has not identified any APIs used by our partners that will need to be changed
What you need to do:
- If Paysafe utilize your BIN we are accounting for those changes within our systems. However, where we have no visibility on your BIN usage, we recommend you check whether changes are required, and make changes as necessary. For example.
- If you hold any BIN tables as part of your processing these tables may need to change
- If you or your partners use BIN tables as part of Risk or Fraud checking the rules, tables, and messaging may also need to change
- If you hold or submit masked PAN data this may no longer be sufficient to identify the Card Issuer, Card Product, Country of Issue or Currency as the masked PAN will no longer contain the full Issuing BIN number in all cases
- We recommend all partners and merchants assess any potential impacts, query their service providers, and confirm that they are ready to process 8 Digit BINs