Systems and methods for cost altering payment services

A system for enhancing security of an electronic transaction, the system comprising:

• one or more processors;
• and
• a storage device storing instructions which, when executed by the one or more processors, cause the one or more processors to perform operations comprising:
• collecting, by a point of sale terminal system, sensitive information pertaining to the electronic transaction according to parameters of a service set chosen by a merchant of the point of sale terminal system, wherein the collecting comprises:
• receiving, in response to a prompt by the point of sale terminal system for one or more predetermined types of security information as dictated by transaction guidance, the one or more predetermined types of security information;
• encrypting the sensitive information at reader head of the point of sale terminal system utilizing an encryption protocol comprising one or more of:
• a merchant ID, a transaction amount, and a password;
• transmitting, by the point of sale terminal system, the encrypted sensitive information to a payment service associated with the tokenization and payment management system;
• conducting, by the payment service, an encryption check on the encrypted sensitive information;
• decrypting, by the tokenization and payment management system, the encrypted sensitive information, wherein the decrypting comprises:
• transferring, from the payment service, the encrypted sensitive information to a tokenizer encryption service;
• validating, using the tokenizer encryption service, at least one credential and at least one key for the encrypted sensitive information, wherein the validating comprises utilizing a data tier populated by analytics;
• transferring, from the tokenizer encryption service, the validated encrypted sensitive information to a hardware security module;
• and
• decrypting, using the hardware security module, the validated encrypted sensitive information;
• tokenizing, by the tokenization and payment management system, the decrypted sensitive information to produce a token, wherein the token comprises a primary account number (PAN), a group ID (GID), a token expiration date, and a payment card expiration date, wherein the token expiration date is variable and is dependent upon a predetermined token designation, wherein the predetermined token designation is one of:
• a single use token or a recurring token;
• encrypting, by the tokenization and payment management system, the tokenized information including at least the PAN and the group ID;
• transmitting, by the tokenization and payment management system, the encrypted tokenized information to the payment service;
• transmitting, from the payment service, clear text associated with the encrypted tokenized information to a payment system;
• receiving, by the point of sale terminal system, the encrypted tokenized information and a transaction authorization response from the payment system, wherein the encrypted tokenized information is stored in a local database;
• receiving, at the tokenization and payment management system, an indication of another electronic transaction associated with another merchant;
• determining whether another merchant ID associated with the another merchant is present in the data tier and is correlated with the GID;
• and
• accessing, by the tokenization and payment management system and from the local database, the encrypted tokenized information for processing of the another electronic transaction upon determining that the another merchant ID is correlated with the GID.

A non-transitory computer readable medium for enhancing security of an electronic transaction, the non-transitory computer readable medium storing instructions which, when executed by one or more processors, cause the one or more processors to perform operations comprising:

• collecting, by a point of sale terminal system, sensitive information pertaining to the electronic transaction according to parameters of a service set chosen by a merchant of the point of sale terminal system, wherein the collecting comprises:
• receiving, in response to a prompt by the point of sale terminal system for one or more predetermined types of security information as dictated by transaction guidance, the one or more predetermined types of security information;
• encrypting the sensitive information at reader head of the point of sale terminal system utilizing an encryption protocol comprising one or more of:
• a merchant ID, a transaction amount, and a password;
• transmitting, by the point of sale terminal system, the encrypted sensitive information to a payment service associated with the tokenization and payment management system;
• conducting, by the payment service, an encryption check on the encrypted sensitive information;
• decrypting, by the tokenization and payment management system, the encrypted sensitive information, wherein the decrypting comprises:
• transferring, from the payment service, the encrypted sensitive information to a tokenizer encryption service;
• validating, using the tokenizer encryption service, at least one credential and at least one key for the encrypted sensitive information, wherein the validating comprises utilizing a data tier populated by analytics;
• transferring, from the tokenizer encryption service, the validated encrypted sensitive information to a hardware security module;
• and
• decrypting, using the hardware security module, the validated encrypted sensitive information;
• tokenizing, by the tokenization and payment management system, the decrypted sensitive information to produce a token, wherein the token comprises a primary account number (PAN), a group ID (GID), a token expiration date, and a payment card expiration date, wherein the token expiration date is variable and is dependent upon a predetermined token designation, wherein the predetermined token designation is one of:
• a single use token or a recurring token;
• encrypting, by the tokenization and payment management system, the tokenized information including at least the PAN and the group ID;
• transmitting, by the tokenization and payment management system, the encrypted tokenized information to the payment service;
• transmitting, from the payment service, clear text associated with the encrypted tokenized information to a payment system;
• receiving, by the point of sale terminal system, the encrypted tokenized information and a transaction authorization response from the payment system, wherein the encrypted tokenized information is stored in a local database;
• receiving, at the tokenization and payment management system, an indication of another electronic transaction associated with another merchant;
• determining whether another merchant ID associated with the another merchant is present in the data tier and is correlated with the GID;
• and
• accessing, by the tokenization and payment management system and from the local database, the encrypted tokenized information for processing of the another electronic transaction upon determining that the another merchant ID is correlated with the GID.