Description
In the fast-paced world of digital payments, optimizing transaction processing, managing costs, and enhancing fraud prevention are critical to business success. At the core of these processes lies a powerful tool—Bank Identification Numbers (BINs). This course offers payment professionals a deep dive into both standard and enhanced BIN data, equipping them with the knowledge to leverage this crucial data for optimizing payment workflows, minimizing costs, and bolstering fraud detection strategies.
Participants will explore the evolution of BINs, understand their role in payment processing, and learn how enhanced BIN data provides granular insights that standard data cannot. By the end of the course, professionals will be able to use enhanced BIN data for strategic transaction routing, cost management, customer segmentation, and more.
Who Should Enroll?
- Fraud prevention analysts will learn to use enhanced BIN data to improve fraud detection and prevent fraudulent transactions.
- Payment professionals will discover strategies for optimizing transaction routing and reducing costs with BIN data.
- Data analysts will gain insights into incorporating BIN data for better customer behavior and transaction analysis.
- IT and security professionals will learn to integrate BIN data into payment systems to enhance security and transaction flow.
- Compliance officers will understand BIN data’s role in regulatory compliance and cost management.
- E-commerce and retail business owners will benefit from using BIN data to personalize payment options and improve efficiency.
Program Details
Program Level: Intermediate
Program Field of Study: Specialized Knowledge
Program Delivery Method: QAS Self-Study
CPE Credits: 1.6
Advanced Preparation and/or Pre-requisites: Payment Essentials is recommended.
For more information regarding any concerns, please email us at [email protected].
Refunds and cancellations are determined on a case-by-case basis. Cancellations and requests for refunds must be communicated in writing to [email protected]. Refunds will not be issued once a course has been started. Additionally, courses must be completed within one year of purchase.
Merchant Risk Council is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have the final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org
Course Created: 10/23/2024
Objectives
- Define Bank Identification Numbers (BINs) and Primary Account Number (PAN)
- Explain the role of BINs in the payments ecosystem and their evolution
- Differentiate between standard and enhanced BIN data.
- Describe how standard and enhanced BIN data impacts transaction processing.
- Describe how BIN data can be used to gain business insights, including customer segmentation and transaction analysis.
- Explain how to apply BIN data to enhance marketing strategies, improve customer loyalty, and streamline business operations.
- Explain how BIN data can be used to enhance transaction approval rates and reduce decline rates
- Explain how to utilize BIN data to analyze and manage interchange fees, optimize transaction routing, and reduce overall processing costs.
- Describe how BIN data can personalize checkout experiences and enhance customer satisfaction.
Certificate
By completing/passing this course, you will attain the certificate MRC Education Certificate of Completion
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