I've always suspected so. Many times I have had a card expire and be replaced, and recurring payments under the old expiration dates continue to charged to the account. I have at least one such payment that I probably have not updated payment information in over 10 years, so that expiration date is long expired.

At one time I suspected in such cases that the bank automatically provided the payee with the new information.

Last year I had a payment issue with E-ZPass. The payments were suddenly being rejected. I came to find it this was due to out of date expiration information. The card number had remained the same, but the expiration on record was June 2012.

Yes, it took over 8 years for the bank (Chase/Visa) to start rejecting payments.