Uncomplicated payments
In the increasingly complex world of payments legislation, Moorwand offers simple, honest and transparent BIN sponsorship solutions. It is all about flexibility, transparency, operational efficiency.
Whether you are a regulated Electronic Money Institution requiring scheme membership access or a business needing both scheme membership and use of Moorwand’s e-money license, there is a solution ready for you.
Issuing Services FAQ
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What is a BIN?
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BIN stands for Bank Indentification Number and refers to the initial set of four to six numbers that appear on a payment card. This set of numbers identifies the institution that issues the card and is key in the process of matching transactions to the issuer of the charge card.
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How does BIN Sponsorship work?
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BIN Sponsorship is a quick shortcut for many companies looking to build a scalable card product and get their proposition to market. BIN Sponsorship allows firms to process payments through an intermediary direct scheme member. Head to our Issuing Services page to find out more about BIN Sponsorship, or alternatively get in touch with our team via our contact us page to see if BIN Sponsorship would help your business.
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What is principal membership?
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If a business wishes to be appropriately licensed as a financial institution in a particular country of region, then it can be possible to become a Licensee (also known as a “Principal Member”) directly of the Card Schemes (in particular, MasterCard and Union Pay).
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