MasterCard have announced that they're introducing a new series of BINs that begin with a 2
Effective 14 October 2016, MasterCard has announced that they're introducing a new series of Bank Identification Numbers (BINs) that begin with a "2". The new "2" series BINs will be processed the same way as MasterCard's existing BIN range that's between "51-55". Support of the new BIN range is mandatory for all businesses.
The table below contains both the existing and the new MasterCard BIN ranges:
Supporting the new BIN range will protect you from loss of business due to being unable to accept transactions from cardholders that have cards issued in the new BIN range. It'll also help prevent you from receiving any operational fines for not being able to accept the new cards.
To ensure stores and online businesses are ready to accept cards featuring the "2" series BIN, MasterCard has confirmed that they'll launch a mystery shopper programme early in 2017. Companies who aren't able to accept the new cards could be liable to fines so it's important you're prepared.
If you rent a terminal from Global Payments (HSBC Card Services), you don’t need to do anything as they will automatically update it before the change comes into effect. If you own your own terminals or rent them from a third party, you’ll need to contact your supplier to get them to upgrade your equipment so you can accept the new cards. If you’ve not yet done this, it’s important that you do so now, so that you’re ready if you’re visited by one of MasterCard’s mystery shoppers.
If you have any queries regarding this change, call Global Payments on 0345 702 3344, selecting the option for ‘all other enquiries’ or contact your Relationship Manager.
Source: Global Payments