Bin Sponsorship

BIN sponsorship is a crucial aspect of running a successful payment processing business, and choosing the right partner can make all the difference.

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Why use Mynt for Bin sponsorships

Mynt has full authority to issue credit and debit card for third parties

Independent EMI License

We possess our own Electronic Money Institution (EMI) license and do not rely on third-party intermediaries within the European Economic Area (EEA). Our license is granted by the reputable Swedish Financial Supervisory Authority, known for its stringent compliance standards.

Software to expand your offering

We offer software to to support your Bin sponsored product for businesses. Transaction view, credit interface aswell as an extensive spend management API with automated accounting and recipe handling.

Streamlined Partnership

Partnering with us for both BIN sponsorship and card issuance streamlines administrative tasks and ensures seamless alignment and optimization of processes.

Regulatory Expertise

You won't need to become a payments regulation expert or stay vigilant for future rule changes and industry practices that require implementation.

Low Financial Barriers

Issuing cards with us doesn't necessitate an extensive financial commitment or a significant equity investment.

Credit handling

Mynt offers a multitude of different credit solutions, partial payments, pay as you go etc. Flexible for the customer and highly automated, creating a smooth customer journey.

Branded cards

Compliant

Secure

Modular

Implementation options

Tailor the solution to
your preferences

Benefit from powerful software to customer transaction handling and overview. Mynt has APIs for market leading expense management software so that your customers can enjoy 5x faster recipe management. This can be implemented natively into your product or as a white label stand alone system.

Use cases

Frequent questions about  BIN sponsorship

What does Bin sponsorship mean?

A BIN sponsor, typically a card issuer, partners with fintech companies to offer payment solutions like branded cards. This saves businesses from the complex process of obtaining licenses and compliance checks required by card networks. The sponsor handles payment processing, compliance, and card scheme rules, allowing the client to focus on their payment product without a direct card scheme relationship.

What is a BIN?

A Bank Identification Number (BIN) is the first 6-8 digits on a payment card, known as the Primary Account Number (PAN). It identifies the card issuer, helps route payments, eases refunds and chargebacks, combats fraud by verifying cardholder location, and secures data.

Who needs a BIN sponsor?

A BIN (Bank Identification Number) sponsor is typically needed by businesses or organizations that want to issue their own payment cards, such as debit or credit cards, but do not have direct access to the payment card networks like Visa or Mastercard.

Choose your card scheme

To bring a product to market, it's essential to hold the status of an Electronic Money Institution (EMI) and establish a partnership with major card scheme VISA.