BIN codes, also known as issuer identification numbers (IINs), are the first six to eight digits of a credit or debit card number. They are used to identify the issuing bank or financial institution that issued the card. The first digit of the BIN code identifies the major industry identifier (MII), which indicates the type of card. For example, a 1 in the first digit indicates a credit card, while a 4 indicates a debit card. The next five or seven digits of the BIN code identify the issuing bank or financial institution.
BIN codes are used for a variety of purposes, including:
Fraud prevention: BIN codes can be used to identify fraudulent transactions. For example, if a merchant receives a transaction from a card with a BIN code that is not assigned to a legitimate bank, the merchant can be alerted to potential fraud.
Transaction routing: BIN codes can be used to route transactions to the correct processing network. For example, a transaction with a BIN code that is assigned to Visa will be routed to the Visa processing network.
Market research: BIN codes can be used to track the usage of different types of cards by different demographics. For example, a merchant can use BIN codes to track the number of credit cards that are used by young adults.
BIN codes are a valuable tool for businesses and organizations that process payments. They can help to prevent fraud, route transactions to the correct processing network, and track the usage of different types of cards.
Here are some examples of BIN codes for different types of cards:
BincodeToCC Blog shares premium BIN codes that are geared for online testing purposes. Bank Identification Number (“BIN”) or Issuer identification number (“IIN”) is the first six digits of a bank card number or payment card number and it is part of ISO/IEC 7812. It is commonly used in credit cards and debit cards, stored-value cards, gift cards and other similar cards.