System and method of providing tokenization as a service
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United States of America Patent
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Nov 28, 2017
Issued Date -
N/A
app pub date -
Jan 28, 2013
filing date -
Jan 26, 2012
priority date (Note) -
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Abstract
Systems, devices, apparatuses, and methods for providing tokenization as a service are provided. Embodiments of the invention involve decoupling a “tokenization service” from other services offered by a merchant service provider, and offering the tokenization service as a stand-alone service. In accordance with an embodiment, a merchant service provider can receive payment data associated with a transaction between a consumer and a first entity. The merchant service provider can generate a payment token that represents the payment data and transmit a copy of the payment token to the first entity. The first entity can then transmit the payment token and order information to a second entity specified in the transaction. The merchant service provider can subsequently receive a request to complete the transaction from the second entity. The request can include the copy of the payment token from the second entity.
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