As implicit from the name, BIN checker is software built to verify or check the information contained by a BIN of plastic card for the purposes of matching them with the information provided by consumers when they make payment with their credit cards. Indeed, a BIN contains useful information about the issuer of a card that it can be dubbed the DNA of a card. Before providing you with an insight into the information contained by a BIN, it will be good for me to first explain briefly what a BIN is all about.
A BIN is an acronym for bank identification number. It is a term developed by the International Organisation for Standard in collaboration with the American National Standards Institute. It is also called issuer identification number abbreviated as IIN. The number refers to the first 6 digits of a plastic card number known as primary account number. The BINs of some brands of plastic cards contain only four digits. Regardless of the number of digits contained in a BIN, they all serve the same purpose and record the same information. Primarily, the BIN records information about the issuer of a card and not about the owner of the card.
The information contained in a BIN
- Major Industry Identifier
Plastic cards today are not issued by banks alone. There are cards issued by institutions from different industries such as airlines, travel and banking industries. The BIN tells you the industry the issuer of your card belongs to. It is the first digit of the card that provides you with this information.
- Card Brand
As already hinted above, plastic cards are today issued by different institutions from different industries. So, we have different brands of cards. The popular ones are MasterCard, Visa, Discover, American Express and others. The BIN tells you the brand of card you are using. For example, if you hold a plastic card whose BIN number starts with 4, it is a Visa card but if it starts with 5, it is a MasterCard.
- The Issuer of the card
If you are using a very good BIN checker, it should tell you the name of the issuer of your card, that is, the particular bank or business that issues your card.
- Card’s Type
There are different kinds of plastic cards that can be issued by plastic card issuing institutions. They include debit, credit, prepaid, gift cards and others. Payment can be made with each of them depending on what is accepted by the buyer. A BIN checker will tell you the type of card used by a consumer.
- Category of card
Each brand of card has different categories of card for consumers to choose from and each category has different packages. For example, MasterCard has various categories of card including standard, gold, titanium, platinum, world and world elite. Each of them comes with different package and gives different benefits even though they belong to the same brand. A BIN checker will tell a merchant the category of card used by a consumer.
- Country of issue
The number for the issuing country appears as the ISO number. It is normally a three-digit number that stands for the issuing country.
- The URL of the issuing organisation
- The phone
Note that not every BINdb contain all these pieces of information. How comprehensive the information contained is depends on the BIN lookup service you are using.