In mid-October, 2016, MasterCard is introducing a new series of Bank Identification Numbers (BINs)*. What that means is that some MasterCard cards will now start with a “2” instead of the usual “5”. In order to be sure that you can process these cards, UMS Customer Service will need to update you.
What does this mean?
These changes will help protect your security and allow you to process all the cards that customers want to use. So stay tuned for a call from your Customer Service Rep contacting you to make these changes.
* BIN stands for Bank Identification Number, and is the first four to six digits of a credit card. The bank identification number identifies the financial institution issuing the card. It is critical to the correct matching of transactions to the issuer of the charge card.
The first number in the series designates which card “brand” is being used: 2 (new) and 5 = Mastercard; 3 = American Express; 4 = Visa; 6 = Discover.