The Significance Of Issuer Identification Numbers From An Online Trade Perspective
Did you know that the terminology: BIN (bank identification number) was once known as IIN, which is the abbreviated form of issuer identification number? Both of them are the same thing. What really matters is how you grasp the concepts associated with an issuer identification number list so that you can properly implement various accompanying software solutions in your company, home or office.
Introduction to Issuer Identification Number - A Technical Retrospective
Just like BINs, IINs, being the same thing, revolve around the first 6 digits of a card number. These cards can be of any category as long as they are used to make and receive payments worldwide. Speaking of global level operations, online companies and ecommerce platforms have to incorporate an issuer identification number database within their systems to better protect their clients.
Is an Issuer Identification Number List Only Meant for Merchants?
Certainly not; if you are a buyer who is just interested in keeping tabs on his/her credit card activities, the issuer identification number list can help you to a great extent. However, a list or a database alone won't be able to serve its purpose as long as you don't have a fully working IIN checker/bin checker program in the computer.
The program queries a pre-stored combination of issuer identification number credit cards to match the results. If your card number matches the issuer company records, the payments are approved for further processing.
Supported Card Types by Bank Issuer Identification Numbers
The card types that a typical bank issuer identification number database supports are:
Credit Cards (Visa Starts with 4)
Debit Cards (MasterCard Starts with 51 - 55 series)
Rewards Card (Custom Database Required for Store Use Only!)
Diners Club (Starting with 300, 305, 35 and 38)
American Express (Starts with 34 - 37)
JCB (Starts with 2131, 35, 1800)
Gift cards also fall into the category of issuer identification numbers as long as the issuing company has its own database to keep track of all the approved cards. Take Amazon Gift Card scheme as an example of a card system that's used by the issuing store to "reward" its loyal customers. Such cards, regardless of their expiry date, can only be used at all or specific branches of the store.
As of now, Wikipedia has a list of bank identification numbers pertaining to different categories. You can refer to that list but DO NOT use it in your IIN database. The reason is quite obvious: not only does the list cater to a small category of cards, it is also outdated. The Wikipedia lists are just for reference only.
Last but not the least, banks and online shopping companies are not the only businesses that use issuer identification number lists. There are hospitals, employers, pharmaceutical companies, software developers and industries that make use of this technology to fortify themselves against scams and frauds.
by: Gen Wright