Changes to the Bank Identification Number

To prepare you for the change to an eight-digit Bank Identification Number (BIN), we’re running through the key information you need to know. The new eight-digit BINs come into effect in April 2022.

What does issuing BIN expansion mean for the payments industry?

In 2017, the International Organization for Standardization (ISO), opens in new window published the new standard for Issuer Identification Number (IIN) length. This new standard expands the numeric length of a BIN from six digits to eight digits for verification purposes. The 16-digit card number will remain unchanged.

Effective April 2022, Visa and Mastercard will begin assigning eight-digit issuing BINs and all merchants will need to be able to accept the new eight-digit BINs when completing a transaction.

The issuing BIN is currently the first six digits and will change to incorporate the first eight digits. 

What do you need to do?

Our payments and reporting systems have been updated to enable acceptance of eight-digit BIN cards. However, those merchant customers who use third party software in their backend systems may need to assess the impact and update the systems to mitigate errors.

Standalone EFTPOS terminals

You don’t need to do anything. We’ll make all the changes so that you are able to accept cards with eight-digit bins.

Integrated terminal merchants and ecommerce merchants

You will need to perform an impact assessment on your backend system and update any systems necessary to enable correct processing and reporting of eight-digit BIN cards if you are deploying third party software for the following activities (list is not comprehensive):

  • Identification of prepaid cards
  • Fraud and/or chargeback analytics
  • Issuer identification
  • Routing
  • Unique BIN range identification (for example, Fleet Cards, specific types of Corporate cards, Benefits cards)
  • Cash back qualification
  • Optimization of approval rates, authorization analysis

What to do next?

  • If you manage your Point of Sale (POS) environment, detail out how the issuing BIN is used and replace any logic that is based on the first six digits.
  • Assess any downstream impacts such as billing and reporting and make any required changes to accommodate the longer BIN length.
  • Ensure you engage with your processors, vendors, service providers and any other partners to coordinate schedules and planning.
  • Remember to conduct testing to confirm seamless operations and downstream processes.

Want to know more?

For more information, read Visa’s Preparing for the eight-digit BIN (PDF, 197 KB), opens in new window to find out why this change is being made and how you can get ready for it.

Important information