Our partner Mastercard recently published an article, “How these digits are driving the digital economy,” discussing BINs (Bank Identification Numbers) and their role in powering modern payments.
While most consumers aren’t familiar with BINs, they’ve been quietly keeping payments moving for over 50 years by identifying a payment card’s type, where it was issued, and ensuring money moves securely.
Even though BINs have been around since the 1970s, they continue to evolve as banks and fintechs find new ways to work together.
In Mastercard’s article, our Chief Legal and Risk Officer and co-founder, Erica Khalili, shared her thoughts:
“When partners are willing to work creatively, we can build new and exciting financial products for customers, and we can do so quickly. BINs are a particularly innovative way for banks and fintechs to work together to support emerging client needs.”
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