Authorization refresh system and method

A financial transaction system comprising:

• a network interface communicating with a memory;
• said memory communicating with an intermediary processor, wherein said memory stores a computer program;
• and
• said processor, when executing said computer program, performs operations comprising:
• submitting, from said processor, a pre-authorization request to an account issuer;
• receiving, by said processor, a refreshable account identifier (RAI) from said account issuer wherein said RAI is a limited use account identifier, and wherein said account issuer creates a pre-authorization record associated with said RAI and said pre-authorization request;
• and,
• communicating, from said processor, said RAI to a merchant, wherein said merchant submits a plurality of authorization requests for payment using said RAI to said account issuer.

A non-transitory computer-readable storage medium having computer-executable instructions stored thereon that, in response to execution by an intermediary computer, causes said computer perform a operations comprising:

• submitting, from said computer, a pre-authorization request to an account issuer;
• receiving, by said computer, a refreshable account identifier (RAI) from said account issuer wherein said RAI is a limited use account identifier, and wherein said account issuer creates a pre-authorization record associated with said RAI and said pre-authorization request;
• and,
• communicating, from said computer, said RAI to a merchant, wherein said merchant submits a plurality of authorization requests for payment using said RAI to said account issuer.