![]() What Are the Security Implications of 8-Digit BINs? Third-party services and applications such as legacy POS systems and applications must also be reviewed to ensure they can support eight-digit BINs. PIN bypass logic for mag-stripe transactionsīecause both six- and eight-digit BINS will exist after April 2022, merchant and processor systems will need to be able to handle both BIN lengths.Payment application logic (e.g., transaction routing, chargebacks, refunds, fraud management).BIN tables and associated processing logic.Point of Sale (POS) hardware and software.These processes and supporting systems will need to be updated to recognize and act on eight-digit BINs. Identifying the card issuer and the cardholder without requiring the whole card number is important for running business processes such as payment transaction routing, chargebacks, refunds, and fraud detection while minimizing the risk of card data breach. How Will Merchant and Processor Systems Need To Change To Handle 8-Digit BINS? The validator digit can be positioned in any of the last four positions of the card number, but is typically in the last position. A number, based on the Luhn algorithm, that is used to check the validity of the card number. Validator Digit: Also known as Check Digit.Account Identifier/Number: A number identifying the individual cardholder’s account.This institution is also known as the card issuer. Bank Identification Number (BIN) or Issuer Identification Number (IIN): Identifies the institution that issued the card (e.g., Wells Fargo, Bank of America, Toronto-Dominion Bank).For example, card numbers beginning with “4” are Visa cards, and numbers beginning with “1” are issued by airlines. Major Industry Identifier: Identifies the card brand or the type of business in which the organization that issued the card is involved.The information contained in each sub-field can be summarized as follows: The layouts of sub-fields before and after the change are summarized below. Two digits will be added to the sub-field allocated for BINs, and the sub-field used to identify the cardholder’s account will be reduced by two digits. When the eight-digit BIN change takes effect, the length of most credit and debit card numbers will continue to be 16 digits. While ISO-compliant credit and debit card numbers can range from 8-19 digits, most are 16 digits. How Will 8-Digit BINs Change Credit Card Number Formats? If you haven’t launched a project to make this important change, we recommend you start now. Making the systems and process changes required to support eight-digit BINs can be a major effort for merchants and payment processors, and the consequences of not having support in place by April 2022 will be significant. Financial institutions may begin issuing cards with the new eight-digit BINs at any time after April 2022. ISO first announced the eight-digit BIN expansion in 2015, and it will become effective in April 2022, at which time all merchants and payment processors must be able to support the new BIN length. To address this BIN shortage, the International Organization for Standardization (ISO) is expanding the length of BINs from six to eight digits. As a result, the industry is running out of available Bank Identification Numbers (BINs), which identify the payment brand and financial institution issuing a credit or debit card and make up the first six digits of each card number. ![]() The payments ecosystem is growing at a breakneck pace.
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