Systems and methods for updating payment card expiration information
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United States of America Patent
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Oct 10, 2017
Issued Date -
N/A
app pub date -
Mar 7, 2013
filing date -
Mar 7, 2013
priority date (Note) -
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Abstract
A computer-implemented method for updating merchant information regarding card-not-present recurring payment (CNP/RP) transactions is provided, wherein the method involves a recurring transaction initiated by a cardholder using payment card information stored by a merchant. The method includes querying a database coupled to a payment network to identify a candidate payment card having stale payment card data. The stale payment card data includes at least an existing expiration date that is within a predetermined period of time of a selected calendar date. The method also includes querying the database to identify at least one recent transaction involving the candidate payment card. The recent transaction includes payment card data having an updated expiration date. The method further includes notifying the merchant that the existing expiration date has been replaced with the updated expiration date.
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