System and method for generation of virtual account-linked card

Patent metadata

Field	Value
Publication number	US-2025086610-A1
Application number	US-202418959766-A
Country	US
Kind code	A1
Filing date	Nov 26, 2024
Priority date	Apr 25, 2019
Publication date	Mar 13, 2025
Grant date	—

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.

First claim

What is claimed is:

1 . A method, comprising the steps of:
identifying, by a card reader, an absence of activity for a predetermined time period when a card associated with an account is in a slot of the card reader; ingesting, by the card reader, the card based on the identified absence of activity; generating, by a 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; and limiting, by the server, the use of the virtual card to transactions involving one from the identified set of authorized transaction partners.

2 . The method of claim 1 , wherein the machine learning algorithm is applied to transaction partners engaging in recurring transactions with the account.

3 . The method of claim 1 , wherein each authorized transaction partner has engaged in a transaction with the account within a predetermined time period.

4 . The method of claim 1 , wherein the set of authorized transaction partners comprises transaction partners which have engaged in two or more transactions with the account.

5 . The method of claim 1 , wherein each transaction partner has engaged in a card-not-present transaction with the account.

6 . The method of claim 1 , wherein the machine learning algorithm identifies the set of authorized transaction partners based on at least one selected from the group of dates and times of transactions with transaction partners, a frequency of transactions with transaction partners, and a similarity in values of transactions with certain transaction partners.

7 . The method of claim 1 , further comprising, requesting, via the server, issuance of a new card associated with the account.

8 . The method of claim 1 , wherein the partner identifying information is generated based on a transaction history associated with the account.

9 . The method of claim 1 , further comprising, transmitting, via the server, a notification to an account owner of the account that the virtual card is available for use with the set of authorized transaction partners.

10 . The method of claim 1 , wherein the notification is transmitted to an account holder mobile device.

11 . The method of claim 1 , further comprising, requesting, via the server, issuance of a new card associated with the account.

12 . A system, comprising:
a card reader configured to: identify an absence of activity for a predetermined time period when a card associated with an account is in a slot of the card reader; ingest the card based on the identified absence of activity; a server comprising a processor in data communication with the card reader, configured to:
generate a virtual card associated with the account;
generate partner identifying information;
identify a set of authorized transaction partners from the partner identifying information by applying a machine learning algorithm; and
limit the use of the virtual card to transactions involving one from the identified set of authorized transaction partners.

13 . The system of claim 12 , wherein the machine learning algorithm is applied to transaction partners engaging in recurring transactions with the account.

14 . The system of claim 12 , wherein each authorized transaction partner has engaged in a transaction with the account within a predetermined time period.

15 . The system of claim 12 , wherein the set of authorized transaction partners comprises transaction partners which have engaged in two or more transactions with the account.

16 . The system of claim 12 , further comprising, requesting, via the server, issuance of a new card associated with the account.

17 . The system of claim 12 , wherein the partner identifying information is generated based on a transaction history associated with the account.

18 . The system of claim 12 , further comprising, transmitting, via the server, a notification to an account owner of the account that the virtual card is available for use with the set of authorized transaction partners.

19 . The system of claim 12 , further comprising, requesting, via the server, issuance of a new card associated with the account.

20 . 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 procedures comprising:
identifying, by a card reader, an absence of activity for a predetermined time period when a card associated with an account is in a slot of the card reader; ingesting, by the card reader, the card based on the identified absence of activity; generating, by a 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; and limiting, by the server, the use of the virtual card to transactions involving one from the identified set of authorized transaction partners.

Assignees

• Capital One Services Llc

Inventors

• Edwards Joshua
• Mossoba Michael
• Benkreira Abdelkader

Classifications

• G06Q20/4097

  using mutual authentication between devices and transaction partners · CPC title

• G06Q20/3572

  Multiple accounts on card · CPC title

• G06Q20/3567

  Software being in the reader · CPC title

• G06Q20/405

  Establishing or using transaction specific rules · CPC title

• G06Q20/354

  Card activation or deactivation · CPC title