What is BIN and BIN Range Sponsorship, and Why Do You Need It?

Have you encountered unexpected card suspensions in your marketing campaigns or difficulties managing supplier payments in your company? These problems are more common than you think and can slow down any business’s growth and efficiency. The good news is that there is a solution: Wallester’s sponsorship of unique BIN and BIN ranges.These features can empower you to control your finances, optimise operations, and avoid unnecessary headaches.

What are BINs and BIN Ranges?

The Bank Identification Number (BIN) is your corporate card’s first 6 to 8 digits. The BIN identifies the financial institution that issued the card. It is a core aspect of the matching transactions process to authorise the charge of the specific card issuer. Without an optimised sequence of numbers, your transactions can be rejected due to fraud controls, usually because they are incompatible with the markets in which you operate. Wallester simplifies the process of avoiding this pitfall, ensuring your financial transactions proceed smoothly.

In addition, BINs provide all the background information related to the user of the payment processing system, including key information such as:

• Card issuer: Indicates which bank or financial institution issued the payment method.
• Currency: Shows the currency denomination of the card.
• Card type: Determines whether the card is a debit, credit, or prepaid card and whether it is for personal or commercial use.
• Product level: This field identifies whether the product level is Platinum, Signature, or Infinite and any related benefits and services.

How to Obtain a Dedicated BIN or BIN Range

There are two main ways to obtain a dedicated BIN. The first is to get a network license, which involves meeting specific requirements and following a thorough and exhausting process. The second, quicker, more straightforward option is to obtain a dedicated BIN through a sponsor. Wallester is a certified Visa partner with individually assigned BINs. Our partnership allows us to issue a range of 6-9 digit codes, and when you, as a corporate client, come to us, we can sponsor these BINs for your company. This means:

• You don’t need to go through the direct application process.
• You can use the Wallester platform to gain immediate access.
• We take care of all the compliance requirements.

Four Solutions Offered by Wallester

BINs usually come in two forms: dedicated and shared. Each form has its own characteristics and uses. A dedicated number is assigned exclusively to a single company, which provides greater control and personalisation over the remittance method issued. On the other hand, a shared number can be used by multiple companies. 

Unlike other payment solutions, Wallester allows you to access new specialised options for these products: unique BINs and BIN ranges. In this case, we have divided the solution into four alternatives that we invite you to explore and choose the benefits that suit you best, discovering how they can adapt to the needs and size of your business. These are the differences between each of the options:

1. Exclusive Dedicated BIN:This option gives you total control and security as the sole owner without the inherent problems associated with sharing BINs with other companies. 
2. Exclusive Shared BIN:You receive exclusivity benefits at a lower cost, shared between up to 5 companies.
3. Dedicated BIN Range:You gain more control over your financial operations and budgets, allowing you to assign different BINs to each campaign.
4. Shared BIN Range: This helps you reduce costs by sharing the BIN range with other companies, which allows you to maintain good quality at a much lower price.

Wallester White Label: Custom BINs for an Exclusive Card Program

As a product, Wallester White-Label is designed for businesses looking to launch their own payment card program with dedicated BINs. This ensures greater control, customisation, and exclusivity. By choosing this option, your business will gain the following advantages:

• Exclusive BINs: A separate BIN range for each program, making segmentation and security more manageable.
• Custom physical and virtual cards: Company logo and design to strengthen brand identity.
• Access to premium programs: Compatible with Visa Classic, Business, Corporate, Platinum, and Infinite.
• Integration with digital wallets: Apple Pay, Google Pay, Samsung Pay, Garmin, and Fitbit.
• Advanced back-office: Card management, limits, AML reports, and real-time statistics.
• Security and compliance: 3D Secure protection, anti-fraud monitoring, and PSD2 compliance.

These cards are ideal for:

• Non-financial companies like retailers, airlines, or hotel chains looking to enhance customer experience with personalised payment cards, offering loyalty programs with cashback, exclusive discounts, or unique benefits for frequent travellers.
• Emerging fintechs such as neobanks, investment platforms, or personal finance management apps. These types of businesses can launch innovative card programs with unique features like real-time expense control, linking to investment accounts, or integration with budgeting tools.
• Established financial institutions like traditional banks, credit unions, or insurers. Many of them also seek to enhance their banking services by quickly launching new card products for specific segments, offering personalised benefits for members, or linking cards to insurance policies with additional perks.

Wallester Business: Sponsored BINs for Efficient Transactions

In the case of Wallester Business, companies of all types can use the BIN sponsorship features as advanced tools for financial management. This helps optimise transactions by offering a comprehensive solution for managing corporate expenses:

• Instant issuance: Enables the rapid creation of virtual and physical cards.
• Offers unlimited physical cards and 300 free virtual cards.
• Ideal for media buying: Facilitates the launch of multiple advertising campaigns, managing each one with a separate card.
• Financial control: Real-time expense monitoring and convenient financial management.
• Open REST API for easy implementation and integration with existing accounting systems.

Wallester Business is especially useful for:

• Digital advertising companies that need efficient campaign management with dedicated cards.
• Multinational corporations that are consolidating expenses across countries.
• Startups and SMEs who require detailed expense control and rapid card issuance for agile growth.
• Travel agencies that need to manage corporate travel expenses with specific cards.

How Can a Sponsored BIN Benefit My Company? 

There are countless benefits to using these features, but the main ones are:

• Speed. In the case of our White-Label solution, you can get your product to the market much faster and receive feedback from your customers at earlier stages. This data helps your team to enhance your business processes further. For Wallester Business, you gain instant access to all the benefits of shared BINs without doing any of the laborious legwork.
• Legal. Regulatory compliance is a long-term process that may take three to six months. However, you can bypass this lengthy process by using Wallester’s already-completed work.
• Time-saving. Our solution saves you time that would be spent on in-house development and legal issues. We have dedicated specialists who can fulfil all your needs related to development and legal obligations.
• Cost-efficiency. As a result, if you’re a White-Label client, you save resources and can launch your product faster with minimal expenses and legal fees — no need to pay for developing your platform because Wallester has its in-house one ready for your use. When you’re a Wallester Business client, we have zero set-up fees for this additional feature, regardless of your chosen currency.

These benefits are complemented by unique flexibility: support for multiple currencies, immediate technological integration, and cutting-edge financial management tools. This means that not only will you save money upfront, but you’ll also optimise your financial processes comprehensively.

How Do You Access This Great Feature?

The process is simple: If you’re not a Wallester Business customer yet, simply go here, select the corporate plan that best suits your needs, prepare your company’s legal documentation, and complete our online verification process. Once your account has been opened, you’ll undergo the same process as an existing client. Go to your dashboard, select Products and Services from the menu on the left, then navigate to 3DS Whitelist and BINS, select the option you want, and you’ll be set up in no time. If you’re interested in using our White-Label service, register here, and we’ll get in touch with you.

Feel free to contact us for more information and explore how we can help you. We’re here to guide you to the next step in financial success!