What is a BIN Sponsor?
Unleashing the potential of financial innovation: Understanding the key role of a BIN sponsor
Let’s start by defining the BIN :
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).
But what is a BIN Sponsor?
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.
Why work with a BIN Sponsor?
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.
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