First Data Corporation

The Western Union Company

Peter A Pridgeon

Kevin James

David L Cox

Ryan G Teixeira

Keith Newbrough

Kenneth E Jennings, Jr

Ryan G Teixeria

John K McDonough

A method for issuing both a virtual card and a physical card to a cardholder comprises issuing a virtual card to a cardholder, with the virtual card comprising an identifier and an associated database record of a stored value. A physical card is also issued to the cardholder. The physical card includes an identifier that is different from the virtual card identifier, and the physical card is in an inactive state until the physical card is activated by linking of the physical card identifier to the database record of the stored value.

Stored value cards and methods for their issuance

The present invention is generally directed to systems and methods for detecting unauthorized or fraudulent use of stored-value instruments. A stored-value instrument can be any instrument (tangible or intangible) that may be associated with a debit account and/or may otherwise be presented for payment for goods and/or services, used to transfer money, etc. The systems and methods of the invention generally involve processing request activity through a predetermined rule set to ascertain whether the activity is potentially unauthorized or fraudulent. The systems and methods of the invention allow for real-time monitoring of request activity for potentially unauthorized or fraudulent use of stored-value instruments.

System and method for detecting fraudulent use of stored value instruments

A method for issuing both a virtual card and a physical card to a cardholder comprises issuing a virl card to a cardholder, with the virtual card comprising an identifier and an associated database record of a stored value. A physical card is also issued to the cardholder. The physical card includes an identifier that is different from the virtual card identifier, and the physical card is in an inactive state until the physical card is activated by linking of the physical card identifier to the database record of the stored value.

Growing community of inventors

Plantation, FL, United States of America

Peter A Pridgeon