Get more from your processing data with Issuer Insights

Are you looking to better understand your customers? Do you know who is declining your transactions? eCommerce merchants have high decline rates of 15 percent, compared to only 4 percent for instore merchants.1 In a customer centric world, data is paramount to addressing these types of issues in order to provide a best-in-class customer experience.

Traditionally, BIN files have served as a source of information for merchants to learn about their customers and address problem areas. Some merchants obtain BIN files from their processors; others build their own. Either way, BIN files do not provide a single source of customer information and merchants typically struggle with getting BIN level performance. Typically, they won’t have any benchmark against which to compare the data—until now.

Issuer Insights from Worldpay is a powerful new tool for BIN and account range analysis. It allows merchants to go a level deeper to understand their card approvals and declines for each issuer and the corresponding card products. This information can be used to improve the customer experience, drive upsell and cross-sell efforts, enhance fraud protections, and more.

Advantages of Issuer Insights over a traditional BIN file:

  1. Overlap of BIN: BIN files can provide data only at the issuer level, which may be misleading or average out the performance at the card level. In contrast, Issuer Insights tracks the data at the card product level, which helps merchants understand the performance at a more granular level and correctly compare the issuer performance against their peers. For example, BIN 511137 can be a prepaid card or a credit card, depending on the account range; Issuer Insights can define the card type based on this BIN.

  2. Incorrect data: In some cases, the BIN and the first 6 digits of the card number may not match due to the brand network’s policy of optimizing for card numbers (as card numbers run out, the card brands are asking issuers for unutilized account ranges). This results in different BINs and account ranges. The Issuer Insights report can track this discrepancy because of the breakdown at the account range (card product) level. For example, if a card number starts with 405413, you might assume that this is the BIN number, but this card actually applies to BIN 414720.

  3. Missing benchmark: BIN files do not contain benchmark data, which means merchants cannot compare their own performance against that of similar merchants. Issuer Insights resolves this issue with a report showing the performance across the portfolio for similar merchants.

  4. Account Updater trends and insights: BIN files do not typically contain Account Updater (AU) insights for each BIN, but the Issuer Insight report shows AU participation and allows merchants to build trends and strategy based upon AU responses. This data enables merchants to be more proactive and aware of trends with issuers such as a portfolio swap (a reissuance of all cards due to fraud). As one of the largest AU providers processing for a large set of merchants, Worldpay is one of the few companies that can provide this type of data.

  5. Depth of data: Issuer Insights provides more than 25 fields of data for 270k unique card products and 70k issuers, including meta data such as characteristics (e.g. funding type) and performance data (e.g. decline by reason), which a BIN file cannot simply match.

How do we enable this?

Worldpay provides merchants with a unique value (aka account range ID) which maps to the individual card product (i.e. account range level) for every transaction and the same value can be tied to the transactional and customer data in the report. Benefits include:

  1. The ability to do analysis at the card product level, the most accurate way to measure card performance and identify card characteristics (see point 2 above).

  2. No increase in PCI scope, since the ID maps to the account range instead of the first 9-11 digits of the card number.

  3. The ability to more accurately segment customers based on card characteristics, instead of relying on BIN. This can be used to improve the customer experience and cross- and up-sell efforts.

  4. For more information about Issuer Insights, please contact your merchant or partner relationship manager, call us at 1-844-843-6111, Option 2, or send us an email.


1Vantiv eCommerce

Grow your business now