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2 results about "Issuing bank" patented technology
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An issuing bank is a bank that offers card association branded payment cards directly to consumers, such as credit cards, debit cards and prepaid cards. The name is derived from the practice of issuing cards to a consumer.
System and method for creating automatic expiring transactions for a credit card
A system and method are disclosed in which a user engaging in an online or in-person transaction with a merchant may create automatic expiring transactions for a credit card. The user provides the credit card information to an online interface or a point-of-sale device but specifies an expiration date that is on or before the actual expiration date of the credit card, known as an artificial expiration date. A token for the merchant is generated with the artificial expiration date. The issuing bank will honor the transaction with the artificial expiration date using the merchant-specific token, and the token may continue to be used with the online merchant until the artificial expiration date.
Owner:CAPITAL ONE SERVICES LLC