What Payment Cards Start With the Number 5?
Explore the systematic structure of payment card numbers. Learn how initial digits reveal card networks and which major cards start with '5'.
Payment card numbers, such as those found on credit and debit cards, are not random sequences of digits. Instead, these numbers adhere to a specific, standardized structure designed for identification and processing within the global financial system. This structure allows various systems to quickly recognize key information about the card and its issuer, thereby facilitating secure and efficient financial transactions.
Understanding Card Number Structure
A payment card number, often referred to as a Primary Account Number (PAN), is typically composed of 8 to 19 digits. The initial digit of this number is known as the Major Industry Identifier (MII), which clearly indicates the broad industry category of the card’s issuer. For instance, an MII of ‘1’ or ‘2’ denotes airlines, while ‘3’ is for travel and entertainment, and ‘4’, ‘5’, or ‘6’ are for banking and financial institutions.
Following the MII are several digits that form the Issuer Identification Number (IIN), also known as the Bank Identification Number (BIN). This sequence, which can be six or eight digits long including the MII, specifically identifies the financial institution that issued the card.
The remaining digits in the PAN, excluding the last one, constitute the individual account identifier, uniquely assigned to the cardholder by the issuing bank. The final digit of the card number is a check digit, calculated using the Luhn algorithm, which helps to validate the number’s authenticity and detect transcription errors during data entry.
Cards Beginning with 5
When a payment card number begins with the digit ‘5’, it signifies a Major Industry Identifier (MII) for banking and financial institutions. This prefix is reserved globally for Mastercard, making it a direct indicator of the card network.
Mastercard numbers typically start with ’51’ through ’55’. Therefore, any card displaying a number that starts with ‘5’ is immediately identifiable as belonging to the Mastercard network. This identification means the card will be accepted by merchants and payment processors configured to handle Mastercard transactions worldwide.
Importance of Number Prefixes
These specific number prefixes are important for the operational efficiency and security of payment systems. They play an important role in transaction routing by enabling payment networks to quickly direct transactions to the correct card network and then to the specific issuing bank. This rapid identification streamlines the authorization process, allowing transactions to be approved or declined almost instantaneously.
Beyond routing, these prefixes also contribute to security and fraud prevention efforts. For example, they assist in identifying the card type and can be used for basic validation checks to prevent common errors or certain types of fraud.