Frequently asked questions
BIN sponsorship, short for Bank Identification Number sponsorship, also known as Issuance-as-a-Service, is a service that enables businesses to issue payment cards without requiring them to possess their own banking license. This service involves partnering with a licensed financial institution, such as Zenus, that provides access to its payment infrastructure and regulatory permissions. The significance of BIN sponsorship lies in its ability to streamline the process of card issuance. Without the need for a banking license, businesses can swiftly enter the market, accelerating product launches and facilitating seamless transactions. This streamlined access not only expedites the time-to-market for new financial products or services but also enhances customer convenience by offering a wider array of payment options.
Businesses across diverse sectors, including innovative fintech ventures, e-commerce platforms, payment solution providers, prepaid card issuers, as well as established brands with large, loyal user bases can harness the power of Zenus Bank’s BIN sponsorship services. Our streamlined approach facilitates efficient payment card issuance and market access, empowering companies to accelerate growth and delight their customer base.
Zenus Bank’s BIN sponsorship program facilitates cross-border Visa card issuance in 130+ countries. Seamlessly blending global accessibility and local engagement, Zenus grants customers the ability to offer their own clients effortless access to US-originated, USD-denominated debit cards, letting them access to the world’s premier banking system. Businesses partnering with Zenus benefit from an efficient ecosystem, issuing virtual and physical debit cards while significantly reducing costs and time, as well as nurturing a significant new revenue stream.
At Zenus, we simplify processes and enable rapid integration through advanced, API-first technologies. This simplification eliminates complexities, empowering card issuers to generate revenue efficiently. End users enjoy global convenience for international purchases and exclusive perks like travel benefits and enhanced rewards.
Zenus provides a structured approach for businesses seeking sponsorship, offering dedicated support and guidance through the intricate regulatory landscape, ensuring compliance standards are met. This process involves detailed consultations to understand the unique needs of each business, followed by tailored solutions designed to expedite the approval process. Additionally, our established relationships with regulatory bodies and efficient communication channels play a significant role in expediting approvals.
Zenus, a Visa Principal Member and fully regulated BIN sponsor, prioritizes regulatory compliance and robust support for our sponsored parties. Partnering with Zenus offers access to cutting-edge technology, processes, and industry standards, ensuring seamless compliance. We are a reliable,innovative partner for global organizations seeking BIN sponsorship, guaranteeing compliance with card networks’ regulations, maintaining transparent records, and prioritizing consumer protection through dispute resolution and clear program terms. Our diligence ensures financial system integrity, emphasizing collaboration with legal, compliance, and regulatory experts.
Absolutely, Zenus specializes in crafting personalized BIN sponsorship solutions that precisely cater to diverse business needs and verticals, ensuring tailored support for each client. Our approach involves in-depth analysis and collaboration to deliver effective solutions that evolve with changing market dynamics and client demands.
Yes. In order to be able to process payments, your organization needs a Money Service Business license and an Anti-Money Laundering program, which we will audit regularly.