Bank Identification Number (BIN)

The first six digits on a Payment Card, which can be used to identify the Issuer who supplied the Payment Card to the Customer. The first section identifies the location of the Issuer, while latter identifies the specific name of the Issuer which issued the Payment Card. BINs are traditionally used by online Merchants to detect fraud by matching the geographic area where the Cardholder is located to the geographic area identified in the Bank Identification Number. The term Issuer Identification Number (IIN) and Interbank Card Association Number (ICA) also refer to this same collection of numbers. A personal identification number, or PI identifies a cardholder and the remaining digits on the Credit Card.

How does Bank Identification Number work?

BINs facilitate Transactions within the Payment System as they specifically identify the Issuer where Customer’s Account is held. The BIN helps a Merchant to identify which Issuer the money is being transferred from, the address and phone number of the Issuer, if the Issuer is in the same country as the device used to make the Transaction, and verifies the address information provided by the Customer.

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