Whitepaper

Preparing for the Migration to 8-Digit BINs

BIN and chip on a credit card
By MAProcessing

How the shift will affect Visa credit card-issuing credit unions—and how to lay the foundation now to be ready for the April 2022 deadline

The payments industry is growing, and six-digit bank identification numbers are reaching a point of depletion. Before depletion occurs, credit cards with six-digit BINs will be migrated to eight-digit BINs. The International Organization for Standardization has set forth a plan for migration with a completion date of April 2022. 

In April 2022, the Visa pool of approximately 100,000 six-digit issuing BINs will become
10,000,000 eight-digit issuing BINs. After April 2022, six-digit BINs will not be available for assignment. However, existing six-digit BINs will continue to be supported as they become eight-digit BINs.

All of the following entities are impacted by the migration:

  • Issuers
  • Acquirers
  • Processors
  • Merchants

Migration testing starts this year and formal migration goes until April 2022, allowing for about 2 1/2 years for migration. Visa processing logic will be updated as well to handle eight-digit BINs. While VisaNet changes are expected to be small, Visa is allowing plenty of time for clients to implement higher impact changes.

This whitepaper further explains the change and details key steps credit unions can take now to ready themselves for compliance in 2022.

Preparing for the Migration to 8-Digit BINs

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