Token management system

A method of managing payment token usage, the method comprising:

• receiving, by a token vault computer system, a request to provision a payment token based on a financial product;
• determining, by the token vault computer system, limited use restrictions to be placed on the payment token, wherein the limited use restrictions restrict use of the payment token to payment via a specific mobile wallet and restrict a set of specific data fields corresponding to a user preference which a merchant is allowed to access;
• generating, by the token vault computer system, a limited use key based on the limited use restrictions to be placed on the payment token;
• storing, by the token vault computer system, the payment token and the limited use key in a token database;
• provisioning, by the token vault computer system, the payment token and the limited use key based on the request to provision the payment token, wherein the limited use key is separate from the payment token, and wherein the payment token is useable by the merchant to make a payment via the financial product when the payment is in compliance with the limited use key that is transmitted with the payment token;
• in response to being presented with the payment token and the limited use key for processing of the payment from the merchant, verifying that the merchant is allowed to access a specific data field for processing of the payment;
• and
• in response to verifying that the merchant is allowed to access the specific data field for processing of the payment, retrieving, by the token vault computer system, from the token database, the specific data field and transmitting, by the token vault computer system, the specific data field to the merchant.

A non-transitory computer-readable media having computer-executable instructions embodied therein that, when executed by a processor of a computing system, cause the computing system to perform operations comprising:

• receiving a request to provision a payment token based on a financial product;
• determining limited use restrictions to be placed on the payment token, wherein the limited use restrictions restrict use of the payment token to payment via a specific mobile wallet and restrict a set of specific data fields corresponding to a user preference which a merchant is allowed to access;
• generating a limited use key based on at the limited use restrictions to be placed on the payment token;
• storing the payment token and the limited use key in a token database;
• provisioning the payment token and the limited use key based on the request to provision the payment token, wherein the limited use key is separate from the payment token, and wherein the payment token is useable by the merchant to make a payment via the financial product when the payment is in compliance with the limited use key that is transmitted with the payment token;
• in response to being presented with the payment token and the limited use key for processing of the payment from the merchant, verifying that the merchant is allowed to access a specific data field for processing of the payment;
• and
• in response to verifying that the merchant is allowed to access the specific data field for processing of the payment, retrieving the specific data field and transmitting the specific data field to the merchant.