Processing electronic tokens

An apparatus for processing an electronic token, the apparatus comprising a processing system comprising a processor, and a non-transitory computer readable medium coupled to the processor, comprising code executable by the processor to cause the processing system to:

• receive an authorization request in relation to processing of an electronic token comprising an identifier for a first user terminal from a transacting entity, the authorization request comprising the electronic token or an identifier for the electronic token, and an electronic signature formed by a second user terminal using a cryptographic key bound to the second user terminal, and was received by the transacting entity from the first user terminal, wherein the first user terminal is capable of conducting communications via a wireless communications network, wherein the first user terminal comprises a cellular communications terminal, wherein the identifier for the first user terminal comprises a telephone dialing number, and wherein the wireless communications network comprises a cellular telecommunications network;
• determine, on the basis of the authorization request, the identifier for the first user terminal associated with the electronic token and an account, and wherein the account is not held by a user of the first user terminal;
• transmit a location query for the first user terminal to a network entity in the wireless communication network, the location query comprising the determined identifier, which determines a location of the first user terminal relative to one or more wireless access nodes in the wireless communication network;
• receive from the network entity a result of the location query comprising the location of the first user terminal;
• verify that the identifier for the first user terminal was signed with the cryptographic key;
• and
• selectively authorize processing of the electronic token in relation to the account on the basis of a result of the location query and verifying that the identifier for the first user terminal was signed with the cryptographic key.

A non-transitory computer-readable medium comprising computer-executable instructions which, when executed by a processor, cause a computing device to perform a method for processing an electronic token, the method comprising:

• receiving an authorization request in relation to processing of an electronic token comprising an identifier for a first user terminal from a transacting entity, the authorization request comprising the electronic token or an identifier for the electronic token, and an electronic signature formed by a second user terminal using a cryptographic key bound to the second user terminal, and was received by the transacting entity from the first user terminal, wherein the first user terminal is capable of conducting communications via a wireless communications network, wherein the first user terminal comprises a cellular communications terminal, wherein the identifier for the first user terminal comprises a telephone dialing number, and wherein the wireless communications network comprises a cellular telecommunications network;
• determining, on the basis of the authorization request, the identifier for the first user terminal associated with the electronic token and an account, and wherein the account is not held by a user of the first user terminal;
• transmitting a location query for the first user terminal to a network entity in the wireless communication network, the location query comprising the determined identifier, which determines a location of the first user terminal relative to one or more wireless access nodes in the wireless communication network;
• receiving, from the network entity, a result of the location query comprising the location of the first user terminal;
• verifying that the identifier for the first user terminal was signed with the cryptographic key;
• and
• selectively authorizing processing of the electronic token in relation to the account on the basis of the result of the location query and the verifying that the identifier for the first user terminal was signed with the cryptographic key.