Vantiv has unveiled Issuer Insights, a value-packed data product that provides a critical window into Bank Identification Numbers (BINs), card products, and your performance with every issuing bank with which you transact.
With this new offering, Vantiv continues its commitment to support cutting-edge payments strategies by delivering a superior level of rich, granular data to help you run your business more effectively. Shining a bright light on the issuer side of payments, Issuer Insights is a major breakthrough that can illuminate opportunities for you to increase efficiency, boost approval rates, and optimize your customer lifetime value.
With significant input from leading merchants representing a wide range of industries, Issuer Insights builds upon Vantiv’s Real-Time Indicators, adding a weekly, merchant-specific “BIN report on steroids,” with details on approximately 215,000 card products offered by 155,000 global issuing banks. Issuer Insights can discover and track trends for your approval rates, by card product, as well as the approval rates for your Merchant Category Code (MCC) peer group. Other unique features consist of account update details, including issuer participation (global).
Additionally Issuer Insights delivers a wealth of card characteristics in real-time in your authorization response, including: corporate/consumer indication; affluence level (card product qualification); issuer country of origin; funding source (credit, debit, prepaid); prepaid card reloadability, type and balance; and virtual card identification. Data-hungry merchants can also obtain up to 15 additional ISO message elements including raw network and issuer responses.
Issuer Insights, available now, is a cornerstone of Vantiv’s commitment to driving higher conversion rates through data science, with deep payments expertise, and innovative data-informed products.
To learn more about how Issuer Insights can help improve your business, please contact your Vantiv eCommerce merchant or partner relationship manager.