A bank identification number (BIN) is the first 6 to 8 digits of a credit or debit card number and identifies the issuing bank, card brand, card type, and country of origin. These numbers are maintained in global databases and updated regularly.
BIN data is typically used for two main purposes. The information helps route transactions correctly through the payment ecosystem. BINs are also essential in filtering or flagging transactions by region or issuer reputation.
Using BIN intelligence allows you to pre-screen transactions for risk or compatibility. You can block high-risk BINs, adjust fraud rules by region, or prevent acceptance of unsupported card types.
AltoPay uses BIN data in fraud prevention logic and allows businesses to customize acceptance parameters based on historical trends. Leveraging BINs properly can help reduce fraud exposure while maintaining approval rates.
For more than a decade, Jessica Velasco has been a thought leader in the payments industry. She aims to provide readers with valuable, easy-to-understand resources.
