why hasn’t visa or mastercard made a payment method that doesn’t expire? having to plug in a new card in all these places after the old one expires is so annoying.
Stripe addresses this to some degree. Wonder what stops Visa / Mastercard from doing so. https://stripe.com/docs/api/cards/update
I figured it was to eventually force recurring payments, etc to get your new approval. But not super confident in that.
All the networks do offer a service to merchants they can use to automatically update reissued cards; I guess not all merchants subscribe to it. https://paymentcloudinc.com/blog/account-updater/
Fraud is my guess. Some services are able to auto update it though, I think PayPal does.
I’ve always wanted something like oAuth for payments. Can give each vendor their own connection and I can revoke whenever I want.
At least you remember to plug the new card, my electricity shut off one day and I called to complain… only to find out I technically didnt pay for three months 😬
They have, look up “issuer tokens”. PANs expire due to accumulated fraud risk, tokens can be set to only expire on request.