Systems and methods for multi-merchant tokenization

A multi-merchant tokenization system comprising:

• one or more processors;
• a storage device comprising instructions which, when executed by the one or more processors, cause the one or more processors to perform a method comprising:
• receiving, by the multi-merchant tokenization system, an electronic request from a first point of sale (POS) terminal of a merchant, wherein the electronic request includes a transaction data, a merchant ID, an encrypted primary account number, and a tokenization indicator;
• determining, by the multi-merchant tokenization system, that the tokenization indicator is present in the electronic request;
• validating, by the multi-merchant tokenization system, the merchant ID against merchant logs comprising merchant IDs of merchants configured for tokenization;
• correlating, by the multi-merchant tokenization system, the merchant ID with one or more group IDs among a plurality of group IDs;
• decrypting, by the multi-merchant tokenization system, the encrypted primary account number in the electronic request;
• generating, by the multi-merchant tokenization system, an encrypted token comprising an expiration date, the one or more group IDs, and the decrypted primary account number;
• and
• outputting, by the multi-merchant tokenization system, the encrypted token to the first POS terminal.

A non-transitory computer readable medium for multi-merchant tokenization, the non-transitory computer readable medium storing instructions which, when executed by one or more processors, cause the one or more processors to perform a method comprising:

• receiving, by a multi-merchant tokenization system, an electronic request from a first point of sale (POS) terminal of a merchant, wherein the electronic request includes a transaction data, a merchant ID, an encrypted primary account number, and a tokenization indicator;
• determining, by the multi-merchant tokenization system, that the tokenization indicator is present in the electronic request;
• validating, by the multi-merchant tokenization system, the merchant ID against merchant logs comprising merchant IDs of merchants configured for tokenization;
• correlating, by the multi-merchant tokenization system, the merchant ID with one or more group IDs among a plurality of group IDs;
• decrypting, by the multi-merchant tokenization system, the encrypted primary account number in the electronic request;
• generating by the mufti-merchant tokenization system, an encrypted token comprising an expiration date, the one or more group IDs, and the decrypted primary account number;
• and
• outputting, by the multi-merchant tokenization system, the encrypted token to the first POS terminal.