Enhanced BIN Data for Payment Professionals

In the fast-paced world of digital payments, optimizing transaction processing, managing costs, and enhancing fraud prevention are critical to business success. At the core of these processes lies a powerful tool—Bank Identification Numbers (BINs). This course offers payment professionals a deep dive into both standard and enhanced BIN data, equipping them with the knowledge to leverage this crucial data for optimizing payment workflows, minimizing costs, and bolstering fraud detection strategies.

Participants will explore the evolution of BINs, understand their role in payment processing, and learn how enhanced BIN data provides granular insights that standard data cannot. By the end of the course, professionals will be able to use enhanced BIN data for strategic transaction routing, cost management, customer segmentation, and more.

Who Should Enroll?

• Fraud prevention analysts will learn to use enhanced BIN data to improve fraud detection and prevent fraudulent transactions.
• Payment professionals will discover strategies for optimizing transaction routing and reducing costs with BIN data.
• Data analysts will gain insights into incorporating BIN data for better customer behavior and transaction analysis.
• IT and security professionals will learn to integrate BIN data into payment systems to enhance security and transaction flow.
• Compliance officers will understand BIN data’s role in regulatory compliance and cost management.
• E-commerce and retail business owners will benefit from using BIN data to personalize payment options and improve efficiency.
  
  

Program Details

Program Level: Intermediate

Program Field of Study: Specialized Knowledge

Program Delivery Method: QAS Self Study

CPE Credits: 1.6

Advanced Preparation and/or Pre-requisites: Payment Essentials is recommended.

Learning Objectives

• Define Bank Identification Numbers (BINs) and Primary Account Number (PAN)
• Explain the role of BINs in the payments ecosystem and their evolution
• Differentiate between standard and enhanced BIN data.
• Describe how standard and enhanced BIN data impacts transaction processing.
• Describe how BIN data can be used to gain business insights, including customer segmentation and transaction analysis.
• Explain how to apply BIN data to enhance marketing strategies, improve customer loyalty, and streamline business operations.
• Explain how BIN data can be used to enhance transaction approval rates and reduce decline rates
• Explain how to utilize BIN data to analyze and manage interchange fees, optimize transaction routing, and reduce overall processing costs.
• Describe how BIN data can personalize checkout experiences and enhance customer satisfaction.
  
  

Please allow 2-3 hours to complete this course. The course culminates with a comprehensive final assessment to evaluate the user's comprehension of the material. Upon successfully completing the final assessment, participants will be awarded a certificate of completion representing their proficiency in the subject matter.

Pricing

MRC Members: USD $75 (plus applicable taxes)

Non-members: USD $150 (plus applicable taxes)