MasterCard®Mandate: New 2-Series BIN Cards

In order to support an expanding payments industry, MasterCard® has begun issuing cards that utilize Bank Identification Numbers (BINs) beginning with a 2 in the range of 222100-272099.

As previously announced, the deadline to support the new 2-Series BIN cards is December 31, 2017. Merchants will be required to update their point-of-sale (POS) terminal software in order to begin accepting and processing new 2-Series BIN transactions.

If software is not updated before the deadline, merchants  not be in compliance with the MasterCard® requirement will face the following imposed fees:

• Up to $2,500 per occurrence for the first 30 days
• Up to $5,000 per occurrence for 31-60 days
• Up to $10,000 per occurrence for 61-90 days
• Up to $20,000 per occurrence for subsequent violations

Note: A noncompliant occurrence is defined as “any attempted and failed 2-Series BIN transactions that is confirmed as failed due to the merchant’s lack of readiness to support 2-Series BIN transactions.”

If the appropriate actions are not taken by December 31, 2017, merchants will be responsible for fees charged by MasterCard® for noncompliance and transactions initiated with 2-Series cards would end in a failed processing attempt.