Mastercard Incorporated
Computer system and computer-implemented method for processing a cashless payment transaction via a point-of-sale terminal

Abstract:

A payment network server for processing a cashless payment transaction via a point-of-sale (POS) terminal associated with a merchant server is described. The server comprises a data storage device comprising instructions operative by a processor to: receive a tokenization request comprising payment account credentials; generate a token associated with the payment account credentials; transmit the token to the customer electronic device, where the token is transmitted to a card for processing the transaction at the POS terminal; receive a transaction request comprising the token and a payment amount; perform de-tokenization on the token to identify the payment account credentials associated with the token; transmit an authorisation request that comprises at least the payment account credentials and the payment amount to an issuer institution; receive an authorisation response comprising an indication of approval or refusal; and transmit a payment transaction response comprising approval or a refusal to the merchant.