US Patent Issued to The Toronto-Dominion Bank on May 27 for "Token-based open-loop stored-value card network" (Canadian Inventors)

ALEXANDRIA, Va., June 17 -- United States Patent no. 12,314,920, issued on May 27, was assigned to The Toronto-Dominion Bank (Toronto).

"Token-based open-loop stored-value card network" was invented by Milos Dunjic (Oakville, Canada) and Zhihong Luo (Vaughan, Canada).

According to the abstract* released by the U.S. Patent & Trademark Office: "A token management server includes a memory and a data processor. The memory stores a token database and a subledger database. The processor is configured to save a token in the token database in a record in association with a ledger identifier and a subledger identifier. The processor receives from a point-of-sale station a token authorization request that includes the token and an authorization val...