The first 6–8 digits of a payment card number that identify the issuing bank and card brand. BIN data helps with routing, fraud screening, and card-type identification.
A unit equal to one hundredth of a percent (0.01%), commonly used to express pricing changes in interchange rates or processor markups. For example, 50 basis points equals 0.50%.
A method where multiple approved transactions are grouped and submitted together for settlement, often at the end of the business day. Batch processing can improve operational efficiency and is standard for many in-person environments.