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Overview of migration to 8-digit BIN changes

Updated on March 9, 2022
Pega Smart Dispute for Issuers

The International Organization for Standardization (ISO) owns a numeric standard to identify financial entities, which is the Issuer Identification Number (IIN) or the Bank Identification Number (BIN).

BIN serves as the first 6 digits of a cardholder account number and assignment of a BIN is required in-order to issue a Primary Account Number (PAN) to cardholders. Eventually, the pool of issuers exhausts using the available BIN. The ISO conducted extensive analysis and concluded that the most effective solution, which minimizes the impact and provides necessary supply, is to extend the 6-digit numeric BIN structure to an 8-digit structure. Migrating 6-digit to 8-digit will occur in April 2022. As a result, an individual 6-digit BIN will become 100 new 8-digit BINs as of April 2022.

For example, if an issuer has been licensed a 6-digit issuing BIN (475299) before April 2022, as of April 2022, 475299 becomes 100 8-Digit BINs.
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