US Patent Issued to Mastercard International on Sept. 16 for "System and method for reporting found transaction card" (Missouri Inventors)

ALEXANDRIA, Va., Sept. 17 -- United States Patent no. 12,417,448, issued on Sept. 16, was assigned to Mastercard International Inc. (Purchase, N.Y.).

"System and method for reporting found transaction card" was invented by Joseph J. Rieker (Wentzville, Mo.) and Steven J. Schmidt (Wentzville, Mo.).

According to the abstract* released by the U.S. Patent & Trademark Office: "A found card notification system receives an interchange electronic advice message from a point-of-sale (POS) terminal associated with a merchant. The interchange electronic advice message includes an indicator of a misplaced transaction card, a primary account number (PAN) of the misplaced transaction card, and a merchant identifier that identifies the merchant. The sys...