The following steps should be followed when launching a new product;
- First, a decision should be made on which brand the product will be issued under.
- Once the brand is determined, the relevant scheme (Mastercard, Visa, Troy) is asked to assign a new BIN number.
- The relevant BIN number is defined in the bank's system,
- The keys for the BIN number are generated in the HSM and defined in the system.
- System checks are carried out on the bank's side, and certification tests are performed with the scheme.
- Once all tests are completed, approval is obtained from the scheme (Mastercard, Visa, etc.) confirming that certification has been completed.
- The relevant BIN is rolled out to all POS terminals and ATMs.
The logic behind the steps
The main risk with a new card product is the product going live before technical preparation is complete. For this reason, the stages between BIN definition and rollout proceed in sequence, each backed by evidence.
Certification tests generally cover scenarios such as card production, authorization, cancellation/refund, EMV flow, and 3D Secure. Results obtained with test cards are submitted to the scheme, and approval cannot be granted until all errors are resolved.
During the rollout stage, it should also be checked that the BIN tables on the POS and ATM side are updated, that installment and campaign definitions are ready, and that the call center and dispute processes are prepared. Launching the product with a pilot user group prevents potential issues from affecting a wider audience.
