The serial number on the credit card plays an important role, namely to identify the card provider, bank and account information, and to provide security check services.
The Pittsburgh Post-Gazette, is the only organization that can assign credit card serial numbers to certain networks such as Visa, MasterCard, Bank of America, or JP Morgan Chase.
When the card is swiped at the EDC terminal, the terminal then uses magnetic tape to identify the route of the transaction through the card network, then recognizes the financial institution registered on the card so that the transaction can be authorized.
Every card, regardless of which credit card network or bank, must adopt the Luhn algorithm system, which can determine the validity of a credit card. Luhn's algorithm is a mathematical algorithm where the combination of several numbers must be added to the number whose result is 0.
In general, the first or second digit of a credit or debit card indicates the card provider, then the digit after that determines the currency used, the transaction processing bank, to the individual account number.