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What is a BIN in Payment Processing

Clearly Payments

In payment processing, one component of the payment processing tech stack involving credit or debit cards is the Bank Identification Number or BIN. Card Network : Indicates the card brand, such as Visa, Mastercard, or American Express, helping processors verify the card’s compatibility with their systems.

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Recurring Billing: Definition, How it Works, and Best Practices

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Upon agreeing to these terms, the merchant is authorized to process automatic payments from the customer’s credit card, debit card, or bank account. Legal and payment compliance Adhering to compliance standards, including those set by the Payment Card Industry Data Security Standard (PCI DSS), is essential.