BIN sponsorship
An arrangement in which a bank that is a card network member lets a fintech offer bank-issued cards or accept payments under the bank's BINs.
What BIN sponsorship is
BIN sponsorship is how a fintech gets onto a card network without becoming a member itself. A bank identification number (BIN) is the first six or eight digits of a card number, assigned to network members. The sponsor bank remains the issuer or acquirer on its BINs and stays responsible to the network for the program.
How it works
Sponsorship works on both sides of a card payment. Issuing sponsorship lets a program put cards in customers' hands. Acquiring sponsorship lets payment facilitators and platforms accept card payments for merchants.
- 01 · APPLY The program applies to a sponsor bank, which reviews its model, risk and compliance.
- 02 · REGISTER The bank assigns BINs and registers the program with the card network.
- 03 · OPERATE Transactions run on the bank's BINs; the bank settles with the network.
When businesses use it
- Fintechs launching debit, prepaid or virtual card programs
- Payment facilitators and independent sales organizations (ISOs) that serve merchants
- Marketplaces and software platforms that process payments for their sellers
- Expense management and commercial card programs
Cross River offers acquiring BIN sponsorship for ISOs, payment facilitators, marketplaces, merchants of record, software vendors and mobile wallets. Settlement runs through its COS bank core. For issuing, it sponsors card programs as a Visa and Mastercard member. See acquiring BIN sponsorship at Cross River.