BIN Sponsorship is a quick way to access Mastercard’s card scheme ahead of launching a financial product. The BIN, or bank identification number, ensures funds can be transferred instantly from one account to another during a transaction.
Schemes only assign BINs to members, which is where WOL iBank comes in as a sponsor and Mastercard® principal member.
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If you’re a regulated entity, you can hold your funds on your own balance sheet.