BIN Database Will Identify Bank With 100% Success
04/04/2019

The Problem

Different banks and PSPs are as a rule particularly good in terms of approval ratio in specific countries and regions.

The best way to increase success rate is to have a network of payment providers and distribute the merchant traffic between those. Therefore, the first, most popular and effective step in boosting merchant financial performance is to split the traffic by geography. The problem is that the majority of PSP and cashier solutions are using very basic card identification services that only look into the first 6 digits of the card.

On a global scale this method only works in 70% of the cases, whereas there are countries where you won’t be able to identify the card geo at all by the first 6 digits.

In the remaining 30%, the cashier finds it hard to properly identify the card issuer and subsequently the country, and as a result there’s no clarity as to where to send the transaction. This hiccup in the process, causes the merchant to lose on potential profit.

The Solution

In order to secure 100% accurate results, what needs to happen is identify the first 11 digits of the card instead of 6. To achieve that you need the proper database. Following through with our commitment to excellence and becoming the most complete, all-around Cashier solution provider in the market, we have recently partnered with the biggest BIN database in the world.

This database literally contains every single bank in the world. It is updated every month and whilst it’s an expensive add-on to our system, it’s one we deem both valuable and necessary. If you combine this new feature with the fact that we’re already PCI DSS Level 1 compliant, what you get is a 100% identification of the bank and card. This combo gives us the right and ability to store the full card number and thus use 11 digits instead of 6 in the identification process.

From now on we are able to identify the card’s location with 100% guaranteed results. Users can now enjoy a higher success rate and a much better end-to-end solution.