Mastercard Update Alert

     

Mastercard Update: If your business accepts credit cards, you may have been hearing about the new Mastercard Bank Identification Numbers (BINs). BINs, which are the first six-digits of the account number, are fundamental to payments. They identify the issuing institution for the account and ensure that each transaction is routed correctly. 

mastercard.jpgAccording to the Mastercard website:

"Mastercard® has received an additional range of 2-series numbers to add to the 5-series that we currently provide. The 2-series BINs operate in the same way as the 5-series and we have made changes to our systems to accommodate the new numbers. Readiness for the 2-series across our issuers, merchants and other partners is tracking on target dates listed below. Mastercard customer financial institutions can expect to be issued 2-series BINs starting in 2017.

Software providers may have updates available and internally developed solutions may require enhancements."

Make sure your system is ready to accept cards with the new Mastercard prefix. 

For questions on your system, please call us at 907-243-2683.

Or go to the blog article on your specific system.

Contact our Customer Support Department

About The Author

Lynn literally grew up in the point of sale and cash register industry – and is now at the helm of the family business. She enjoys working with local Alaskan businesses, especially restaurants, grocery stores, and retail operations - helping them control costs and increase revenues through well managed point of sale solutions. Besides running the company, Lynn has also served on the Board of Directors, and as Chairman of the Board, for the Retail Solutions Provider Association.