Payments Glossary

What is a payment term that confuses you?

One common term that I always mix up with something else is Bank Identification Number (BIN). If you take a card out and look at it, look on the front, well some now print the card number on the back. Once you locate the number, look at the first four to six numbers. Boom, that’s the BIN or what some even call BIN number. Kinda like saying NIC card, I guess.

So now that you know where the BIN is, it is really cool knowing what information you can learn from those simple four to six numbers. First, you can learn what bank issued the card, the issuer’s location, and if it is a gift, credit, or debit card.


To add,

because of massive increases in new BINs registrations, the schemes are moving to 8 digits BINs.