Issuers may see a number of impacts to their business and to the payments ecosystem.
If clients are not ready to receive the new 8-digit issuing BIN for new BIN assignments, they may not be able to take advantage of new product innovations and may see a loss in operational eﬃciencies.
Some examples of issuing BIN usage in processing:
- Use issuing BIN as a proxy for product.
- Set authorisation parameters based on issuing BIN (e.g. number of transactions, daily maximum amount).
- Include issuing BIN in business processing rules, such as eligibility for products or services.
Issuing BIN is used in downstream systems and processes, including branch systems, online banking, mobile applications, e-Wallet and new account acquisition.