Visa's Numerics Initiative

Processors that use the first 6 digits of the PAN to route transactions may experience broad impacts across transaction processing. This could include disruptions to product identification, service eligibility and authorisation parameters – and reporting and accounting processes.

Merchants may experience impacts at the point of sale – including hardware, terminal software and BIN tables.

Without accounting for the new 8-digit issuing BIN standard merchants will experience a disruption to many common POS transactions.

Service Providers that use the first 6 digits of the PAN for their services may experience a number of impacts in the back-end systems including transaction processing, issuing product management, cardholder servicing, ATM, merchant servicing and disputes, fraud management, and data warehouse and reporting. 

If the new 8-digit issuing BIN standard is not adopted by the deadline, transaction processes may fail, and services provided to their clients may be disrupted.

Issuers may see a number of impacts to their business and to the payments ecosystem.

If clients are not ready to receive the new 8-digit issuing BIN for new BIN assignments, they may not be able to take advantage of new product innovations and may see a loss in operational efficiencies.

Some examples of issuing BIN usage in processing:

• Use issuing BIN as a proxy for product.
• Set authorisation parameters based on issuing BIN (e.g. number of transactions, daily maximum amount).
• Include issuing BIN in business processing rules, such as eligibility for products or services. 

Issuing BIN is used in downstream systems and processes, including branch systems, online banking, mobile applications, e-Wallet and new account acquisition.