Account Updater Definition.
Scheme service (Visa Account Updater, Mastercard Automatic Billing Updater) that automatically updates the PANs and expiration dates of cards stored with a merchant when those cards are reissued. It sharply reduces failures on recurring payments and subscriptions. Network tokens make the mechanism native, since the network itself handles the update.
See also
Where this term appears
GuideCard issuing: building and running a programGuidePayment orchestrationGuideSubscriptions and recurring payments around the worldGuideAuthorizationGuideTransaction data and approval ratesGuideManaging tokenized cardsGuideRunning payments by the numbers: the KPIs that drive decisionsCourseMaking subscriptions work internationallyCourseReducing your decline rateCourseA CB card transaction, end to endCourseTokenization and recurring paymentsCourseManaging payments by KPI: authorization, conversion, fraud, and costs