ISO & Agent Weekly Announces the Release of BINsmart Interchange Manager

On July 24, 2008, ISO&Agent Weekly announced the release of Merchant Warehouse’s BINsmart Interchange Manager, the latest addition to the MerchantWARE payment gateway.

BINsmart determines whether a card used is credit, debit, or a corporate card by reading the first 6 digits (called the Bank Identification Number, or “BIN”).

“If the system identifies the card as a debit card, it will send back a response to the point of sale system to prompt for a PIN number”, said Henry Helgeson, President and Co-CEO of Merchant Warehouse.

BINsmart complies with the Payment Card Industry Data Security Standard for payment applications because it does not store credit card number. BINsmart is also free to developers that add Merchant Warehouse’s payment gateway.

Merchants could benefit from lower interchange fees for debit transactions as their system can identify card type.

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