As your payments partner, we are committed to keeping you up-to-date with industry changes and card scheme developments.
ALL CARD BRANDS Reminder: 8-digit BINs (Industry readiness)
A Bank Identification Number (BIN) is a unique reference assigned to an issuer for the purpose of issuing a card product. Each BIN is unique to one specific offering that a bank has in its portfolio - whether credit, debit, prepaid or commercial. The BIN is currently shown as the first six digits of the long card number on the front of each card product.
To overcome a shortage of available numbers, starting in April 2022, all card schemes are working towards expanding the available ranges by instigating an 8-digit BIN code across their networks.
By this date, all acceptance points will need to recognise an 8-digit BIN series, and to process card transactions with both 6-digit codes and 8-digit codes accordingly.
Action required
Elavon is already working towards this goal across its internal systems and the products we offer.
If you are using 3rd party supplied solutions, please check with your provider that they are aware and are working towards the same on your behalf.