Managing BINs

The Bank Identification Number (BIN) is the first six or eight numbers on a payment card, which identifies the institution that issues the card. When you select a card issuer, they will provide you with either your own BIN, for use on your card program, or a shared BIN.

BIN

Figure: Example of a card BIN

BINs are issued by the relevant Card Scheme (e.g., Visa or Mastercard). A BIN can only be issued to a licensed BIN sponsor.

Scheme reporting can be set up at BIN level or you can combine BINs.

The BIN will determine key aspects of how your programme within Thredd operates (such as Consumer or Commercial, Debit, Credit or Prepaid). Each region has different mandatory services per BIN.

You can split your BIN into account ranges (sub-BINs), to support different countries, currencies and products. The account range splits at the Card Scheme level must align with the account ranges you have set up at Thredd 1.

BIN Options

BIN Sponsor vs. Self-Issuing

You can use the services of an existing issuer to provide you with BINs, or apply for your own BINs directly.

Shared vs. Own BIN

Some issuers provide shared BINs, which are used to issue small programs and white-labelled solutions, and which offer the benefit of speed to market.

Below are the pros and cons of using a shared BIN.

Pros	Cons
Off the shelf BIN assignment.	Requires migration to move away if desired at a later date.
No new BIN assignment SLA.	Migration later on will require buy in from the BIN owner possibly requiring own BIN to migrate to.
Quicker speed to market & implementation timescales.	Cannot change shared BIN configuration.
BIN parameters pre-configured.	Multi-currency settlement with scheme would require multiple Sub BIN ranges on shared BINs that are not on multi currency settlement enabled shared BINs.
BIN programme pre-approved and signed off by Scheme.	Multi-currency settlement requires multiple settlement accounts with scheme (also requires shared BIN to be multi currency settlement enabled at scheme).
BIN or Sub BIN range already live.	Bound by Issuer changes to BIN should they wish to make them.
Initial capital expenditure likely reduced in comparison to own BIN.	BIN configuration may not be suitable for product requirements.
Take advantage of preconfigured X Pay wallets if set up on the Shared BIN (MDES & VTS).	Could cost more over time in comparison to own BIN.
No BIN configuration testing required.	Changing card design template will require scheme sign off.
Chip profile pre-approved (no VPA/CPV testing required).	Using X Pay wallets even when preconfigured will still require certification project with scheme/issuer and Apple/Google etc.
Existing card design template can be used if desired.	n/a