Payment card storing tokenized information

Abstract

Provided are a payment card, system and method for storing and reading tokenized payment account information from a payment card. In an exemplary embodiment, a payment card may include a substrate forming a body of the payment card, and an electronic chip attached to or included in the substrate. According to various exemplary embodiments, the electronic chip may include a storage storing tokenized payment account information corresponding to a payment account linked to the payment card. The electronic chip may be read by a payment terminal and may provide the tokenized payment information to the payment terminal during reading.

What is claimed is: 
     
         1 . A payment card comprising:
 a substrate forming a body of the payment card; and   an electronic chip attached to or included in the substrate, the electronic chip comprising a storage storing tokenized payment account information corresponding to a payment account linked to the payment card,   wherein the electronic chip is configured to be read by a payment terminal and provide the tokenized payment information to the payment terminal during reading.   
     
     
         2 . The payment card of  claim 1 , wherein the tokenized payment account information comprises a tokenized primary account number (PAN) and a tokenized expiration date, corresponding to the payment account linked to the payment card. 
     
     
         3 . The payment card of  claim 1 , further comprising a PAN corresponding to the payment account embossed and/or printed on a face of the substrate of the payment card. 
     
     
         4 . The payment card of  claim 1 , further comprising a magnetic stripe disposed on a surface of the payment card and having the tokenized payment account information encoded therein, wherein the magnetic stripe is configured to be read by the payment terminal and provide the tokenized payment account information to the payment terminal during reading. 
     
     
         5 . The payment card of  claim 4 , wherein the tokenized payment information encoded in the magnetic stripe comprises a tokenized PAN and a tokenized expiration date, corresponding to the payment account linked to the payment card. 
     
     
         6 . The payment card of  claim 1 , wherein the memory of the electronic chip further stores therein at least one of a payment account reference (PAR) tag, a token requestor ID tag, and a last 4 digits of a PAN tag. 
     
     
         7 . The payment card of  claim 1 , wherein the electronic chip is embedded within the substrate of the payment card. 
     
     
         8 . The payment card of  claim 1 , wherein the electronic chip is configured to be read by a point-of-sale (POS) terminal. 
     
     
         9 . A payment processing method comprising:
 reading tokenized payment account information from an electronic chip of a payment card, wherein the payment card comprises a substrate, the electronic chip is attached to or included in the substrate, and the tokenized payment account information is stored on the electronic chip and corresponds to a payment account linked to the payment card; and   transmitting the tokenized payment account information read from the electronic chip of the payment card to a payment network.   
     
     
         10 . The payment processing method of  claim 9 , wherein the read tokenized payment account information comprises a tokenized primary account number (PAN) and a tokenized expiration date, corresponding to the payment account linked to the payment card. 
     
     
         11 . The payment processing method of  9 , further comprising receiving a PIN of a user for verifying that the user is the cardholder of the payment card, and transmitting further comprises transmitting the PIN to the payment network. 
     
     
         12 . The payment processing method of  claim 9 , wherein the reading comprises reading the tokenized payment account information from the electronic chip by contacting the electronic chip. 
     
     
         13 . The payment processing method of  claim 9 , wherein the reading comprises wirelessly reading the tokenized payment account information from the electronic chip without contacting the electronic chip. 
     
     
         14 . A payment card reading device comprising:
 a reader configured to read tokenized payment account information from an electronic chip of a payment card, wherein the payment card comprises a substrate, the electronic chip is attached to or included in the substrate, and the tokenized payment account information is stored on the electronic chip and corresponds to a payment account linked to the payment card; and   a network interface configured to transmit the tokenized payment account information read from the electronic chip of the payment card to a payment network.   
     
     
         15 . The payment card reading device of  claim 14 , wherein the tokenized payment account information configured to be read by the reader comprises a tokenized primary account number (PAN) and a tokenized expiration date, corresponding to the payment account linked to the payment card. 
     
     
         16 . The payment card reading device of  claim 14 , further comprising an input unit configured to receive a PIN from a user for verifying that the user is the cardholder of the payment card, and the network interface is further configured to transmit the PIN to the payment network. 
     
     
         17 . The payment card reading device of  claim 14 , wherein the reader comprises a slot for receiving the payment card and circuitry for reading the tokenized payment account information from the electronic chip by contacting the electronic chip. 
     
     
         18 . The payment card reading device of  claim 14 , wherein the reader comprises a short-range communication unit configured to wirelessly read the tokenized payment account information from the electronic chip without contacting the electronic chip.