BIN sponsorship

How Paynetics adds value:
cards issuing without direct scheme membership

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BIN sponsorship

Introduction

Through our BIN Sponsorship we can help you bring VISA and Mastercard payment cards to your business quickly and conveniently. Direct scheme membership can be costly, complex and time consuming. We empower you to manage your own programs such as eWallet accounts, prepaid cards or debit cards without the need for an individual e-money license or direct scheme membership.

Speed

Shorten the time to market for your
own payment cards or wallets

Efficiency

Focus on your clients, we cover all the
regulatory requirements

Full toolset

Benefit from our wide range of
additional payment products

some of our clients

How does BIN Sponsorship work

BIN sponsorship is the fastest and most convenient way to launch a payment card program, significantly shortening the time to market. A scheme-assigned BIN (bank identification number) enables companies with an established client base and business model to deploy their own cards or wallets without having a direct membership in the card schemes.

Paynetics’ status as an e-money institution means that our partners can perform many of the operations of a financial institution through us. As Principal Members of both Mastercard and Visa we assist such businesses to have their own eWallet and run their own card programs.

What is Paynetics role as a BIN Sponsor

We work closely with our partners to design and implement the card programs which best fit the requirements of their clients. In order to support the program implementation our role is to:

  • provides access to the VISA and Mastercard networks
  • ensure regulatory compliance with all existing payment regulations within the EU and UK
  • submit and get approval of the card programs through the VISA and Mastercard network
  • provide the necessary reporting to the card schemes
  • lead or coordinate the integration with the processor
  • establish and manage cardholder funding account. As an e-money institution Paynetics holds all client funds in special accounts, which are segregated and safeguarded, which provides higher level of security than holding funds in a regular bank account ensure clearing and settlement of funds
  • manage risk and develop transaction and client monitoring guidelines
  • ensure KYC of cardholders is in line with existing AML requirements
  • perform program control and audit

As Paynetics fulfils all of the above duties so that our partners are able to focus on what matters to them – their clients. In this way, we empower our partners to provide superior customer service to their clients.

Work with multiple processors

We understand the complex nature of the relationship between program managers, BIN sponsors and processors. Program managers would usually have built deep integration with specific processors. From their side, processors would have developed multiple programme manager relationships. As both program managers and processors provide a route to market to deliver multiple programs, it is the BIN sponsor who acts as the glue that keeps the process together.

Whilst Paynetics needs to have a direct relationship with the processor, we empower our partner program managers to lead this three-party relationship.

We are processor-agnostic and can work with all accredited processors. Our home processor is GPS but we are open to work with any processor the program manager has an integration with.

Additional products

We have at our disposal an extensive product set and we make that available to our program managers. Enjoy the convenience of comprehensive payment services from a single source:

  • Omnichannel acquiring - flexible solutions, efficient on-boarding, easy-to-integrate APIs – find out more about Card Acquiring
  • eWallet solutions – our white label wallets offer seamless experience and are packed with features – find out more about eWallet
  • Payment tokenization – allows you to bring payments to the mobile phone and help reduce fraud – find out more about Payment Tokenization
  • Cash loading onto cards through partners
  • A range of banking services – IBAN accounts, bank transfers, FX, etc.- click here – find out more about IBAN Accounts

Market Drivers

Digitalisation and globalisation are changing the market. We are here to support you as you face the challenges that these pose, and make the most out of the opportunities that they create.

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