Articles

Mastercard 2 Series Cards

2 Series BIN

Everything You Need to Know About Mastercard® 2-series BIN Cards

Mastercard announced plans to add an additional 2-series BIN range to their existing 5-series back in May 2015. The deadline for adoption is just around the corner, and it could cost you thousands in penalties if you’re not ready for the change.

What is a BIN?

A bank identification number (BIN) is a 4-6-digit number identifying the bank which issued a card. The BIN forms the first series of characters in the card number.

What is an MII?

The major industry identifier (MII) is the first digit of the BIN, and is used to identify the issuer’s industry—airline, travel, finance, etc.

What is a BIN?

A bank identification number (BIN) is a 4-6-digit number identifying the bank which issued a card. The BIN forms the first series of characters in the card number.

What is an MII?

The major industry identifier (MII) is the first digit of the BIN, and is used to identify the issuer’s industry—airline, travel, finance, etc.

What is a BIN?

A bank identification number (BIN) is a 4-6-digit number identifying the bank which issued a card. The BIN forms the first series of characters in the card number.

What is an MII?

The major industry identifier (MII)) is the first digit of the BIN, and is used to identify the issuer’s industry—airline, travel, finance, etc.

There is an ever-expanding number of payment cards in circulation. In response, Mastercard is now authorized to expand into card numbers in the range between 222100-272099. This range is traditionally reserved for airline cards, like the Diners Club enRoute card. Unfortunately, not all systems are equipped to handle 2 series BIN cards because they are not historically widely used.

Penalties for Noncompliance

This change will not impact the interchange fee paid by merchants to accept 2-series cards. But on July 1, 2017, Mastercard began conducting tests to verify that merchants have the necessary infrastructure equipped to accept 2-series BIN cards. This includes every step in the payments process; from POS terminals to third-party vendors, merchants must be able to accept these new cards.

Failure may result in penalties applied directly to merchants’ accounts. These penalties will increase based on the number of days passed since the July 1 deadline:

Days Passed from July 1 Penalty
Less than 30 Days $2,500
31-60 Days $5,000
61-90 Days $10,000
91 or More Days $20,000

Will This Affect eCommerce Merchants?

Mastercard’s expansion into the 2-series BIN impacts merchants in both the brick-and-mortar and eCommerce environments. Online sellers will experience multiple points of vulnerability, including:

  • Web Apps
  • Shopping Card & Checkout Software
  • Payment Gateways
  • Proprietary Systems
  • Internal or External Loyalty Programs
  • Data Analytics
  • Fraud Prevention

Check with your acquirer to ensure that you are covered, then contact your vendor for any of the above services that apply. Ensure that they can accept and process the new Mastercard 2-series cards, or if they will require a plugin to do so.


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Merchants Who Require Terminal Update/Replacement

Few businesses can afford to replace their stock of payment terminals every few years. As a result, many rely on older, out-of-date terminals. If you use a payment terminal, you may require a software upgrade to process 2-series cards. The machine may even require outright replacing depending on its age and make.

If your payment terminal is provided by your acquirer, they can tell you whether you require an update or upgrade.

What About Chargeback Management?

The move to Mastercard 2-series cards can impact your Mastercard chargeback resolution as well. Fortunately, Chargebacks911® is already prepared for this transition. Click here to request a demo of our responsive, 2-series-ready approach to chargeback management and risk mitigation.


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