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The payments landscape for community banks is changing rapidly as traditional payments converge with new instant payment systems and emerging cryptocurrencies. It is critical for Community Banks to maintain awareness of developments in the payments space to assess new opportunities, mitigate risks, and ensure that their payment strategy aligns with overall business plans.
Feb. 23, 2022
The latest blog post from ICBA Bancard President and CEO Tina Giorgio spotlights new Bank Identification Number standards taking effect in April.
Why it Matters: Giorgio says the new standards—which will require card processors to accommodate transactions using eight-digit BINs—create procedural considerations and decision points for community bank issuers. Read the post.