BIN (Bank Identification Number)

(Bank Identification Number "BIN" is an international term).

The Bank Identification Number (BIN) is a unique combination of numbers that identifies credit card institutions and is used for online payments.

BIN

The Bank Identification Number (BIN) is a fundamental component of online payments. It is a six- to eight-digit number that can be found in the first few digits of a credit or debit card number. The BIN is used to identify the credit card company that issued the card and enables payment service providers to process payments correctly.

In e-commerce, the BIN is used to check the validity and type of card. Payment providers such as Payrexx use the BIN to recognize whether the card is Visa, MasterCard, American Express or another card. This helps to carry out transactions smoothly and prevent fraud.

The BIN also plays a role in the recognition of transaction patterns and the analysis of payment behavior. It is important information for merchants to accept payments securely and offer customers a reliable shopping experience.

BIN examples

A customer enters their credit card information when making an online purchase. The payment provider uses the BIN to identify the card type and process the transaction.

An e-commerce company analyzes transaction data to find out which credit card institutions are most frequently used for payments.

A customer reports suspicious activity on their card. The bank uses the BIN to check the source of the transactions.

BIN FAQ

  • The Bank Identification Number (BIN) is very important for online payments, as it makes it possible to identify credit card institutions and determine the card type. This makes it easier for payment service providers to process transactions correctly and enables merchants to accept payments securely. By checking the BIN, unauthorized or fraudulent transactions can be detected at an early stage.

  • The BIN is used to prevent fraud by helping to detect suspicious activity. A payment provider can use the BIN to determine whether a card may be stolen or counterfeit. If a transaction originates from an unknown or suspicious BIN, the payment provider can perform additional security checks to ensure the authenticity of the transaction.

  • Yes, the BIN can be used to identify the type of card. The first digits of the BIN are usually specific to certain credit card institutions or card types. For example, the first digits 4 are for Visa cards and 5 for MasterCard cards. This enables merchants and payment service providers to identify the card type and adapt the payment process accordingly.

  • In addition to identifying the credit card institution, the BIN can also be linked to information about the country or region in which the card was issued. This information can help analyze transaction patterns and identify trends in payment behavior. The BIN can also indicate possible links to certain financial institutions or card issuers.

  • Yes, the use of BIN is a fundamental part of payment processing and therefore most, if not all, reputable payment providers support the use of BIN. BIN verification helps to process payments securely and efficiently and minimize fraudulent activity. Companies like Payrexx use the BIN to optimize the payment process and ensure secure transactions.