SYSTEM AND METHOD FOR A SELF-CALCULATING TOKEN VAULT

摘要

A system and method for electronic payment that involves generating and then using a temporary token based on a legacy PAN (Primary Account Number) to conduct an electronic transaction. The token is generated by transforming the PAN using specific inputs such that the original PAN can be recovered by manipulating the token in various ways as disclosed herein. One potential manipulation that may be used is encryption/decryption. The token is transmitted to a portable electronic device such that the portable electronic device may present the token to a point-of-sale device. The POS communicates the token to a server which validates the token by, among other things, recovering the PAN. If the PAN is recovered as expected a validation message is returned to the POS device.

主权项

1. A system for electronic payment comprising:
means for generating a temporary token based on an original PAN; means for transmitting the temporary token to a portable electronic device; means associated with the portable electronic device for presenting the temporary token to a point-of-sale device; and means for validating the temporary token on the server side and returning a validation message.