Definition of BIN Sponsor: how it works and benefits

Following on from our previous articles on FinTech and the Programme Manager, this one will look at the definition of a BIN Sponsor.

The BIN, or bank identification number, corresponds to the first six to eight digits of the long sequence of numbers on the front of a payment card, forming the primary account number (PAN).

Also known as a bank identification number sponsor, a BIN Sponsor plays a crucial role in the smooth operation of payment card systems. It represents a financial institution that has the necessary infrastructure and authorisations to enable companies without direct access to card networks to accept payments. In short, it acts as a link between FinTech companies and the global payment network.

The responsibilities of this partner are as follows:

● BIN issuance: Issue payment cards with a unique BIN to merchants and financial institutions.
● Compliance: Ensure payment card compliance with regulations and industry standards.
● Payment processing: Offer services such as transaction processing, fraud detection and prevention, and refund management.
● Co-branding: Having the ability to issue payment cards under its own brand or as part of a co-branding partnership with other organisations.

● Simplified payment processing: By working with a BIN Sponsor, our payment infrastructure becomes more robust and reliable. As a result, we can help you manage your payments efficiently, while reducing operational complexity, allowing you to concentrate on your core business.
● Faster time -to-market: Obtaining the necessary licenses and integrating card networks can be time-consuming and complex. When you call on E-Pay Space, you benefit from our extensive network, saving you time, seizing opportunities and setting you apart from the competition.
● Enhanced customer experience: Our aim is to provide you with a seamless payment experience, which you in turn can offer your customers. This encompasses card acceptance, transaction facilitation and the assurance of a smooth, secure payment process, reinforcing customer satisfaction and loyalty.

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At E-Pay Space, we provide you with the right BIN sponsor. No need to search through the various sponsors on the market! We partner with an industry-proven BIN sponsor, demonstrating reliability, stability and commitment to excellence.

We ensure that our BIN Sponsor infrastructure can adapt to your business needs and changing requirements. We redouble our efforts to equip your company with the necessary protective measures, from fraud prevention to risk management and analysis, with the help of the right BIN sponsor. In this way, we reduce risk so that you can build a relationship of trust with your customers.