System and method for generation of virtual account-linked card
AssigneeCapital One Services, LLC
InventorsJoshua Edwards, Michael Mossoba, Abdelkader Benkreira
Life of this patent
Estimating the term…
Abstract
Embodiments of systems and methods for generating virtual account-linked cards are described. A virtual account-linked card may be generated in response to a determination that a physical account-linked card has been forgotten at a card reader and ingested by the card reader. A virtual account-linked card may be restricted such that it can only be used to execute a transaction with authorized transaction partners identified in a database.
Claims20
A system, comprising:
- a server, comprising:
- a processor in data communication with a database storing account data, and
- a memory;
- and
- a card reader configured to:
- determine that a card associated with an account is forgotten, wherein determining that the card is forgotten comprises:
- receiving, by the card reader, a signal that the card is in a slot of the card reader, and
- identifying, by the card reader, the absence of activity for a predetermined time period,
- generate a notification identifying the card forgotten, and
- transmit the notification to the server,
- wherein, upon receipt of the notification, the server is configured to:
- disable the card,
- generate a virtual card associated with the account,
- generate partner identifying information,
- identify a set of authorized transaction partners by applying a machine learning algorithm to the partner identifying information,
- identify a set of selected transaction partners comprising at least one transaction partner selected by a user associated with the account, and
- limit the use of the virtual card to transactions involving an authorized transaction partner or a selected transaction partner.
A method, comprising the step of:
- determining, by a card reader, that a card associated with an account has been forgotten, wherein determining that the card is forgotten comprises:
- receiving, by the card reader, a signal that the card is in a slot of the card reader, and
- identifying, by the card reader, the absence of activity for a predetermined time period;
- generating, by the card reader, a notification identifying the card as forgotten;
- transmitting, by the card reader, the notification to a server;
- receiving, by the server, the notification;
- disabling, by the server, the card;
- generating, by the server, a virtual card associated with the account;
- generating, by the server, partner identifying information;
- identifying, by the server, a set of authorized transaction partners from the partner identifying information by applying a machine learning algorithm;
- identifying, by the server, a set of selected transaction partners comprises at least one transaction partner selected by a user associated with the account;
- and
- limiting, by the server, the use of the virtual card to transactions involving an authorized transaction partner or a selected transaction partner.
A computer-accessible non-transitory medium having stored thereon computer-executable instructions, wherein, when a computer arrangement comprising a card reader and a server executes the instructions, the computer arrangement is configured to perform procedure comprising:
- determining, by the card reader, that a card associated with an account has been lost;
- determining, by the card reader, that the lost card has been forgotten, wherein determining that the card is forgotten comprises:
- receiving, by the card reader, a signal that the card is in a slot of the card reader, and
- identifying, by the card reader, the absence of activity for a predetermined time period;
- ingesting, by the card reader, the forgotten card;
- generating, by the card reader, a notification identifying the card as forgotten;
- transmitting, by the card reader, the notification to a server;
- receiving, by the server, the notification;
- disabling, by the server, the forgotten card;
- generating, by the server, a virtual card associated with the account;
- generating, by the server, partner identifying information;
- identifying, by the server, a set of authorized transaction partners from the partner identifying information by applying a machine learning algorithm;
- identifying, by the server, a set of selected transaction partners comprises at least one transaction partner selected by a user associated with the account;
- and
- limiting, by the server, the use of the virtual card to transactions involving an authorized transaction partner or a selected transaction partner.
Dependencies are inferred from the claim text.