MasterCard is now beginning to issue credit and debit cards with a BIN (Bank Identification Number) starting with the number 2. A BIN refers to the first six (6) digits of a credit or debit card number and is used to identify the card issuing institution.
HOW WILL THIS CHANGE AFFECT YOU?
MasterCard has introduced a new 2-series to their Bank Identification Numbers (BINs). A BIN is the initial six numbers that appear on a credit card and can be used to identify the card issuing institution. Adding this new BIN will not only affect cardholders but everyone using integrated point-of-sale systems and/or stand-alone payment terminals. Merchants must be able to accept and support the new 2-series BIN range in card-present and card-not-present payment acceptance channels.