Gone are the days when a bank card was only needed to withdraw a paycheck from the nearest ATM. Today, non-cash payments account for 60% of all payments made worldwide, and this number is only set to grow. Financial experts predict that within five years, cash payments will make up just 10% of all payments. With this in mind, it's crucial for modern businesses to stay ahead of the curve and develop their own payment card project.
The first step in creating a payment card project is to partner with a reliable and secure payment system. Visa is widely recognized as the most trustworthy international payment system, with its cards accepted worldwide for a variety of transactions, including hotel payments, grocery shopping, and online shopping. With Visa, businesses can easily track transactions, make payments, and transfers, but they'll need a BIN (Bank Identification Number) to get started.
That's where Wallester's BIN sponsorship platform comes in. We offer a range of solutions for businesses looking to launch their own payment card project, including BIN sponsorship services that provide access to Visa's payment system. With our platform, businesses can streamline the process of launching their own payment card project and enjoy the benefits of non-cash payments in today's digital world.
So if you're looking to stay ahead of the curve and take your business to the next level, consider partnering with Wallester's BIN sponsorship platform and launch your own payment card project today.
What is of BIN number?
The Bank Identification Number (BIN) is a six-digit number that serves as the identification number for a bank card. Each of the six digits carries specific information. The first digit represents the payment system that services the card, with Visa cards starting with the number 4 and Mastercard cards starting with the number 5. The second to fourth digits represent the card issuer number, which is formed by the payment service the issuer is working with. The fifth and sixth digits represent the category of bank products.
The BIN is located on the front side of the card and plays a crucial role in identifying the bank card. Obtaining a BIN can be a time-consuming process, taking anywhere from 3 to 6 months to receive a decision from the payment system. Additionally, designing and implementing a card project can also take a significant amount of time.
For businesses, time is money, and the cost of waiting for a BIN can be a significant expense. That's where BIN sponsorship comes in. Wallester offers a unique solution for businesses looking to launch their own payment card project quickly and efficiently. With our BIN sponsorship service, businesses can access a BIN from Visa's payment system without the wait.
Our sponsorship service allows businesses to streamline the process of launching their payment card project and focus on the design and implementation of the project rather than waiting for a BIN. By choosing BIN sponsorship, businesses can save time and money while still enjoying the benefits of non-cash payments in today's digital world.
In conclusion, obtaining a BIN can be a time-consuming and costly process for businesses. BIN sponsorship offers a unique solution that enables businesses to launch their payment card projects efficiently and without delay. Choose Wallester's BIN sponsorship platform and start your payment card project today.
Who needs BIN Sponsors partner?
Obtaining a Bank Identification Number (BIN) can be a time-consuming process, but there is an alternative solution available through BIN sponsorship. Companies can choose to work with a sponsor, such as Wallester, to receive a BIN and account numbers for a fee. In addition to providing the BIN and accounts, Wallester offers an intermediary service between the company and the payment system, helping to expedite the launching of a card project.
The BIN-sponsorship service is beneficial for various types of companies. Consumer loan providers can optimize their business processes and increase efficiency, leading to increased competitiveness. Business lending service providers can speed up lending processes and improve client loyalty. Banking institutions can receive a fully operational investment product, saving time and money. Fintech companies can develop and issue exclusive design cards, adapted to necessary business processes, and multifunctional and practical. P2P service providers can use cards as a payment instrument to make quick money transfers and grant loans. Travel agencies can simplify and streamline their financial side of cooperation with multifunctional payment instruments.
In summary, for any company in need of payment services, BIN sponsorship offers an optimal solution. Wallester provides a convenient and efficient way to obtain a modern payment tool quickly and easily. By choosing BIN sponsorship, companies can save time and money while benefiting from the convenience and efficiency of non-cash payments.
Why choose Wallester as your BIN partner?
Wallester is a trusted BIN sponsor offering turnkey Visa solutions for businesses looking to launch their own card projects. With five years of experience and a headquarters in Tallinn, Estonia, Wallester has served customers across the EU and launched over million of active Visa cards.
Wallester offers unlimited card issuance, including debit, credit, virtual, prepaid, and physical cards, with instant issuance and worldwide payments. The cards are highly secure, utilizing 3D security technology for online payments and tokenization for easy integration into mobile electronic systems. KYC/AML processes are in place to minimize the risk of working with unscrupulous customers.
Wallester also provides a technical solution that integrates seamlessly with a customer's existing system, allowing for easy cost control and tracking of card status and transaction statistics. Android and iOS applications are available for effective financial activity.
Wallester takes an individual approach to each client, working closely with them to ensure their card program meets their specific requirements. With full support throughout the entire cooperation period, Wallester is the perfect partner for any business looking to launch a card project.
Wallester's BIN sponsorship service provides businesses with a fast and efficient way to launch their own card project. With unlimited card issuance, high-level security, and seamless integration with existing systems, Wallester is the ideal partner for any business looking to succeed in the non-cash payment market.