MasterCard has introduced a new 2-series to their Bank Identification Numbers (BINs). A BIN is the initial six numbers that appear on a credit card and can be used to identify the card issuing institution. Adding this new BIN will not only affect cardholders but everyone using integrated point-of-sale systems and/or stand-alone payment terminals. Merchants must be able to accept and support the new 2-series BIN range in card-present and card-not-present payment acceptance channels. If your terminal is not set-up to accept the new 2-series BIN, you will not be able to process the transaction resulting in a loss of sale.
The MasterCard change will take effect on July 1, 2017. There is the potential of a $2,500 fine for older POS systems that cannot accept this change. Please contact your local POS systems technician or your POS systems help desk to make sure you can accept the new BIN. For your convenience, Help Desk contact information is provided below.
Verifone Help Desk
Gilbarco Help Desk
Comdata Help Desk
NCR Help Desk
MasterCard 2-Series BIN Readiness: https://www.youtube.com/watch?v=EKwTRGw9MT0