System and method for interoperable mobile wallet

A messaging hub computer system, comprising:

• one or more processors;
• and
• machine readable storage media coupled to the one or more processors and having instructions stored therein that are executable by the one or more processors to process a mobile wallet transaction between a payor and a merchant, the instructions when executed by the one or more processors cause the one or more processors to:
• receive a request for a dynamic token on behalf of the payor, the request for the dynamic token including an identifier associated with a second financial institution from a plurality of second financial institutions and a payment identifier;
• route the request to a second financial institution computing system associated with the second financial institution for generation of the dynamic token;
• receive a message from a first financial institution, the message including a merchant identifier associated with the merchant and the dynamic token, the dynamic token including a code comprising encoded account information for the payor associated with an account held by the payor with the second financial institution;
• decode the code included with the dynamic token;
• match the decoded code with information in a table that identifies the second financial institution;
• identify the second financial institution from the plurality of second financial institutions based on the decoding and the matching;
• responsive to identifying the second financial institution, route the dynamic token and the merchant identifier to the second financial institution computer system;
• receive, from the second financial institution, the account information for the account held by the payor, the account information obtained based on decoding the encoded account information included in the dynamic token;
• route the account information to the first financial institution, enabling the first financial institution to process a payment from the account held by the payor to an account held by the merchant as part of the mobile wallet transaction;
• receive an indication of whether the mobile wallet transaction has been approved or denied from the first financial institution;
• and
• facilitate a display of the indication on a mobile device associated with the payor.

A computer-implemented method performed by one or more processors of a messaging hub computer system to process a mobile wallet transaction of a payor at a merchant, the method comprising:

• receiving, by the messaging hub computer system, a request for a dynamic token, the request for the dynamic token including an identifier associated with a second financial institution of a plurality of second financial institutions and a payment identifier;
• routing, by the messaging hub computer system, the request to a second financial institution computing system associated with the second financial institution for generation of the dynamic token;
• receiving, by the messaging hub computer system, a message from a first financial institution computer system associated with the merchant, the message including a merchant identifier associated with the merchant and the dynamic token, the dynamic token including a code comprising encoded account information of the payor associated with an account held by the payor with the second financial institution;
• decoding, by the messaging hub computer system, the code included in the dynamic token;
• matching, by the messaging hub computer system, the decoded code with information in a table that identifies the second financial institution;
• identifying, by the messaging hub computer system, the second financial institution from the decoding and the matching;
• routing, by the messaging hub computer system responsive to identifying the second financial institution, the dynamic token to the second financial institution computer system;
• receiving, by the messaging hub computer system and from the second financial institution computer system, the account information for the account held by the payor, the account information obtained based on decoding the encoded account information included in the dynamic token;
• routing, by the messaging hub computer system, the account information to the first financial institution computer system, thereby enabling the first financial institution computer system to process a payment from the account held by the payor to an account held by the merchant as part of the mobile wallet transaction;
• receiving, by the messaging hub computer system, an indication of whether the mobile wallet transaction has been approved or denied from the first financial institution computer system;
• and
• facilitating, by the messaging hub computer system, a display of the indication on a mobile device associated with the payor.