BIN Sponsorship
What is BIN Sponsorship?
BIN Sponsorship offers a streamlined path for banks, credit unions, and fintechs to initiate their payment programs. To begin a debit or credit program, institutions need to secure a BIN range (Bank Identification Number) with a payment network. The BIN sponsor provides access to the BIN, manages regulatory compliance, and oversees settlements—all without the need for direct payment network membership. Note: Different BIN Sponsors cater to distinct markets and payment solutions.
LATAM Coverage
for US Dollar Cards
Unlike many enablers focused on specific nations, Payblr is authorized to issue USD prepaid debit cards across all LATAM countries, barring Cuba, Venezuela, and Nicaragua. This BIN Sponsorship type lets institutions roll out in multiple nations with just one sponsor.
How our BIN Sponsorship program helps from a compliance perspective
Our BIN Sponsorship program maintains stringent financial crime control measures.
Our BIN Sponsorship program enforces robust AML, BSA and Sanctions policies and procedures.
Our BIN Sponsorship program ensures end-user onboarding and screening adheres to essential standards.
Our BIN Sponsorship program uses automated systems to identify and manage any suspicious activities.
Comprehensive support beyond
the BIN Assignment
While the BIN is a pivotal element in launching a payment program, true success lies in the details that follow. At Payblr, we extend our support beyond just securing your BIN. Our dedicated team collaborates with you, offering tailored guidance throughout the BIN Sponsorship program’s lifecycle.
Fast and Easy Accreditation
Speed to market
Attaining BIN accreditation can be tedious and costly. With Payblr, you can streamline this journey by minimizing extensive paperwork, fees, and wait times. This expedited process enables a quicker launch of your payment program, getting you to market swiftly and efficiently.
Expert guidance
Payblr brings years of experience to the table. Companies benefit from receiving guidance on best practices, risk management, and evolving industry trends.
No need for specialized staff
We’ll handle the complexities, allowing you to focus on strategy and revenue.
Flexibility
Payblr is processor agnostic and works with major global and regional card processors. You can contract with the processor that best meets your needs.
Access to a BIN at a much lower cost
Secure a BIN without the hefty price tag or the challenges of regulatory reporting to the networks. Partnering with Payblr offers unmatched economies of scale, ensuring you maximize value and minimize expenditure.
FAQs about BIN Sponsorhip
Do you have any questions about our products, services, or policies? Do you want to learn more about how we work and what we offer? Then you are in the right place.
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Payblr offers BIN Sponsorships and Associate Memberships to the Networks.
With an Associate Membership, the entity maintains a relationship with both Payblr and the networks, and can obtain its own BIN. In BIN Sponsorship, Payblr, the regulated entity, issues the card (the issuer), and also manages the entire program.
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A BIN Sponsor "loans" a BIN and its financial license to the sponsored institution so that it can issue cards to its customers. They coordinate with other partners in the ecosystem to ensure a complete solution for the institution.
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An unregulated entity, meaning, it does not have permission to issue financial products, that wants to issue cards to its customers.
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Payblr is responsible for the relationship with the networks, ensuring that the program is in compliance, maintaining the financial license, supporting the implementation, and handling some back-office aspects like settlement. This also depends on the capabilities of the sponsored entity.
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For BIN Sponsorships, we can issue cards in US dollars in Puerto Rico or any LATAM country except Cuba, Venezuela, and Nicaragua.
Under Associate Memberships, we can sponsor licenses for issuing in Puerto Rico or any LATAM country except Cuba, Venezuela, and Nicaragua.
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The sponsored entity can have a fully virtual, fully physical, or combined program.
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Yes, this depends on the capabilities of the processor and the mobile application. Apple Pay will be available in 2024.
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For BIN Sponsorships, we can issue prepaid or zero-balance cards.
For Associate Memberships, we can issue debit, credit, prepaid.
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For BIN Sponsorships, only cards in US Dollars can be issued.
For Associate Memberships, cards can be issued in the local currency of the sponsored institution. Domestic transactions are settled in the local currency and international ones in US Dollars. Payblr provides an account for settlement in US Dollars.
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For BIN Sponsorship, Payblr supports Visa.
For Associate Memberships, Payblr supports Visa and Mastercard.
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For BIN Sponsorships, we provide a white-label solution, enabling you to determine the card design according to your entity's preferences and brand guidelines. The name "Payblr" is unobtrusively displayed in the card issuance description ('this card is issued by...') located on the back of the card, ensuring regulatory compliance while maintaining your brand's prominence.
For Associate Memberships, 100% of the design is determined by the sponsored institution.
