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PaymentVision 5.13 is now available in production. The purpose of this release is to add support for a new BIN length (8-digit BINs) and make 1 enhancement (Account Updater Error Reasons).

8-digit BINs

What is a BIN?

A Bank Identification Number (BIN) is a number that identifies the issuer of a payment card.  It comprises the first 6 or 8 digits of the primary account number located on the front of a payment card and is used to route transactions.

What is changing?

ISO introduced a new eight-digit BIN length, and Visa announced its support by mandating that Visa acquirers and processors be able to support the new length effective April 2022.

Who is ISO and what is their role?

The International Organization for Standardization (ISO) oversees the BIN standard.

What is the purpose of the change?

The purpose of the change is to address a diminishing supply of BINs.

How are existing BINs affected by the change?

Existing six-digit BINs will continue to be supported, but Visa is only assigning eight-digit BINs moving forward.

How does PaymentVision use BINs?

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Account Updater Error Reasons

As part of this release, PaymentVision will begin recording additional detail when an account update fails because a matching credit card already exists.

What is Account Updater?

Account Updater is a subscription-based service that automatically updates cards on file without the need to contact the cardholder.

How can a matching credit card account exist prior to running Account Updater?

A matching credit card can exist if it is added or updated outside of the Account Updater service.

What is changing?

Prior to the release, when an account update failed because a matching credit card already exists, PaymentVision would record a failure without any additional detail.  Now, as part of this release, PaymentVision will begin including “CreditCardAlreadyUpdated” as a pv Gateway Account Token Update Error Reason Type.  This change will be reflected within PaymentVision’s monthly Account Updater performance report.