BIN Sponsorship
accelerate your payments product to market
Proudly issuing and distributing Visa prepaid cards to the Australian and New Zealand markets.
iGoDirect is an AFSL holder and a Visa Principal Partner and Issuer for prepaid BINs in Australia and New Zealand. Our BIN Sponsorship services can help you bring Visa prepaid payment cards to your business quickly and conveniently, reducing cost, complexity and time to market.
We empower you to manage your programs, such as eWallet accounts and prepaid cards, without the need for an AFSL or Visa scheme membership.
Seamless integration
Get integrated into existing and highly accepted payment processes.
Enhanced innovation
Experience freedom to customise your product and improve user experience without compromising time-to-market.
Robust compliance and security
We uphold stringent regulatory compliance and robust security as an AFSL holder and Visa Principal Member.
How does BIN Sponsorship work?
Banking Identification Numbers (BIN) play a key role in the global banking ecosystem, enabling issuers to be identified and facilitating payments.
Obtaining a BIN and becoming an issuer is a complex, costly and lengthy process. BIN sponsorship solves this by creating a strategic partnership between an issuer, such as iGoDirect, and non-banking entities, where BINs can be supplied through sponsorship arrangements.
As a result, BIN sponsorship is helping drive growth and innovation across Fintechs and organisations looking to provide payments capabilities to their customers.
How we help bring your program to life
As a BIN Sponsor, our role is to:
- Access the Visa network and its innovations
- Get approval of your card programs with Visa
- Ensure regulatory compliance in Australia New Zealand
- Ensure cardholder KYC is in line with AML/CTF requirements
- Provide the necessary reporting to Visa
- Coordinate the integration with the processor
- Ensure clearing and settlement of funds