SYSTEM AND METHOD FOR USING OPEN APIS TO PROVIDE INTEGRATED SECURITY POLICIES FOR FLEXIBLE MANAGEMENT AND CUSTOMIZATION OF PAYMENT INSTRUMENTS

摘要

A system and method for improving the flexibility of payment instruments such as payment cards when used by enterprises enables a primary issuer to allow a secondary issuer and/or user of the payment card to develop specialized policies for use of the payment card. Such secondary policies do not need to be known or managed by the primary issuer because they are enforced by the payment card itself when it is used in an online payment system . The payment card is configured with open application programming interfaces (API) that allow a secondary issuer and/or user to add policy programs that can control the possible uses of the card. Refinement filters are implemented by the payment card's processor so as to disapprove of transactions that do not comply with at least one policy of the payment card.