Recurring transaction processing

US7987138B2 · kind B2 · utility

Assignee

• Visa International Service Association · US

Inventor

• Barbara Patterson · South San Francisco, US

Key dates

• Filing date: Nov 9, 2009
• Grant date: Jul 26, 2011
• Expiry date: Nov 9, 2029

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q40/02
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Techniques for processing of recurring payments are provided that do not require merchants to update consumer account information when a consumer is issued a new account number for a payment card or the like. For example, when a consumer is issued a new account number by an issuer, the new account number can be provided to a payment processing network. A server computer in the payment processing network then identifies any recurring payments associated with the user's old account number and provides the consumer with a list of merchants for which the consumer had established recurring payments associated with the old account number. The consumer is then provided the opportunity to select those merchants for whom the consumer wishes to continue the recurring payments using the new account number. The payment processing network then creates a mapping between the old account number and the new account number for the merchants designated by the consumer and continues to process recurring payment authorization requests received from the designated merchants using the old account information. As a result, the merchants do not need to make any updates to the consumer account information m…