What is a BIN sponsorshipJust around closing time yesterday we received a news release pertaining to a BIN sponsorship Agreement with Ajman Bank, "one of the upcoming UAE regional banks, will also introduce Mint Global Processing LLC ("MGP") to the UAE Central Bank as a third party processor ("TPP")" This is yet another revenue growth initiative for Mint. What is a BIN Sponsorship?BIN stands for Bank Identification Number and is the unique identifier of a bank on a payment card. Due to the high costs involved in becoming an FSA approved card distributor many organisations choose to gain access to the card market through a primary vendor, effectively a sponsorship relationship between the master approved vendor (The BIN Sponsor) and the company wishing to offer the card to their customers.A BIN sponsor manage revenue streams from the cards issued through BIN sponsorship. Invoice charges can be calculated in a variety of ways based on volume of transaction, total amount of transactions or as a predetermined fee. In addition data to calculate these charges is based on card activity through ATM usage, merchant’s POS or online e-commerce orders, so here we have yet another expansion by Mint.