Virtual payment cards issued by banks for mobile and wearable devices (English)

Provided is a method for issuing single-use and multiple-use virtual payment cards via a mobile and wearable device. The method may include receiving a card issuance request from a user, prompting the user to enter a user authentication information, accessing a user account maintained by a card issuer, generating the virtual payment card based on payment data of the user account, and providing the virtual payment card to the mobile and wearable device. The method may continue with receiving a transaction request from a merchant and matching merchant identification data provided by the user in the card issuance request and merchant identification data provide by the merchant. If the match of the merchant identification data is determined, the method may continue with authorizing a payment transaction by transferring a payment amount from the virtual payment card to a merchant account associated with the merchant.