Bank identification number also known as issuer identification number normally comprises of 6 digits which are the first set of characters in the number of every plastic card. The number provides a lot of information about the card issuer. Today, many e-commerce businesses are using BIN checker services in order to validate transactions. It helps to discover orders made with stolen credit card details. With the recent review of ISO/IEC 7812-1, the number of digits that make up the issuer identification number would be increased to eight.
The change does not affect the number of digits that make up the PAN. It still remains within the range of 10 to 19. The newly proposed 8 digits issuer identification number has not come into effect. It is still in the form of draft which has been distributed to various members of ISO for evaluation. Unfortunately, many businesses are not aware of this proposed change and its implication. Here, I am going to examine this proposed change and its implication.
The reason for the proposed increase
Proposed expansion of IIN is necessitated by the expected exhaustion of the available BIN throughout the industry due to proliferation of tokenization caused by high demands for PANs. The problem of the underutilization of the capacity within BIN as well as that of the growth in the payment industry can be resolved if the IIN is expanded to 8 digits. The proposed increase will help to accommodate new products and functionalities as it will provide a healthier way of assigning opportunities, features and benefits to them.
Though the new change is not likely to happen soon, it is good for IIN users to start getting ready for it so that they will have smooth transition to 8 digits BIN. This is the time for them to identify potential system designed with the proposed changes in mind.
Challenges for the payment industry
The proposed increase in the number of digits of IIN poses some challenges to the payment industry. The change will require them to review their systems and platform in order to find ways of modifying it so that it will support the IIN 8 digits. The second major challenge of this expansion to the payment industry is the effect it will have on their current systems. Proper care should be taken to ensure that the upgrade does not affect the existing set up in anyway.
Impact on merchants
The proposed addition of two more digits to current 6 digits of IIN will also have some effect on the merchant in a number of ways. They should ensure that their payment systems and POS terminals support payment made with a card that has 8 digit IIN whether it is used for card-not present and card-present payment transaction. They will require the services of software suppliers who specialize in rectifying configuration tools in use. It is important for them to utilize systems and routines that meet the requirements of PCIDSS standard to enable them managed transactions with increased IINs correctly.
There are various kinds of blogs today with each specializing on different niches. Some of these blogs post articles on marketing, marketing strategies and tips. If you are a marketer or you are looking for ways of marketing and promoting your products, you should take time to read marketing articles. Below are some of the popular blogs where you can find well researched and written articles on marketing.
This blog posts articles that cover a wide range of topics including marketing tips, industry trends, professional developments and topical overviews. It is a good source of information for any marketer as the blog is regularly updated with quality content. With the guides, tips and procedures provided in the blog, newbie in marketing will be properly guided.
https://www.hubspot.com/ provides inbound marketing certificates. If you are interested in obtaining their certificates, you should start by visiting the blog as there are plenty of articles that will help you to achieve this goal. HubSpot Blog has become popular for its primetime and software marketing conference.
The Knowledge Bank
If you are looking for a content that will help you to raise your company’s profile and influence your audience, this blog should be the right place to come to. The company also posts contents that cover branding, and marketing including content distribution, lead generation, thought leadership and others. It is owned by Influence & Co
Business Insider is growing in popularity today thanks to the quality of their posts. Their articles are of the same quality with the posts on Huffington. This is why some people regard it as Huffington Post for Business. The posts in the blog are on markets and strategy. There are always new articles on the blog.
There are other blogs such as Vero, Hootsuite, Kissmetrics, Seth Godin and others where you will be able to find useful information on marketing.
Email marketing is one of the means through which businesses reach their targeted audience and also maintain their existing customers. However, it can be very difficult, time consuming and stressful to send emails to all the customers of a business including prospective ones one after the other. Today, software has been developed to enable businesses engaged in email marketing to send out bulk emails to their target audience just at once. Mailer is a typical example of bulk email software. It is also called mass mailer for sale. Mailers are computer worms that can disperse themselves via email. If you are engaged in email campaign, it is important that you make use of mailer for easy sending of mails.
Mailers are available in a number of types. The first type are those hosted by third parties. Mailers belonging to this category are in the majority. Here, businesses pay third party hosting companies so that they will be given access to the mailer. Depending on the third party company, a fixed amount can be charged for a month access. Some companies charge their customers pay send. Those charging a fixed monthly rate allow their customers to create their user account, create and send out their email campaigns via their accounts throughout the period of a month they paid for. Access or service will be withdrawn at the expiration of a month subscription period they paid for. In this case, it is the reliability of third party’s mailer that will determine the efficiency of email campaign of the user to a greater extent.
Another type of mailer is the self-hosted mailer. Not many businesses are making use of this option in their email campaign. Here, a business will develop their own mailer or purchase a licence to host the program. However, the problem with this type of mailer is that businesses using them are limited to the use of one server in the sending of bulk emails and this reduces the rate at which emails are sent. On the positive side, it has a long term cost effective benefits. Businesses that opted for self-hosted mailer will only have to pay for the cost of developing the software. Once, it is developed, they will not have to pay any monthly fees or any other fee in order to send bulk emails.
Benefits of mailers
The use of mailers give businesses a number of benefits. First, it is a good means of increasing website traffic. Mass email marketing is a veritable tool of attracting consumers to a website or a business. It is also a good means of retaining old ones and communicating with them.
Keeping track of your email campaign
Using a mailer for your email campaign will help you to keep track of your campaign progress. You will be able to find out the number of people that respond to your adverts. In this way, you will determine what your return on investment (ROI) is.
Reaching large number of your targeted audience
Engaging in email campaign using mailer is a veritable means of reaching to a large number of your targeted audience. With an email campaign, you are not just reaching out to the ‘crowd’ but to your targeted audience. Thus, it is highly possible that your campaign will yield large harvest especially if you are able to provide your customers with useful information.