System and computer implemented method for generating and transmitting tokenized card information

A tokenization server comprising:

• at least one processor;
• and
• a memory, communicatively coupled to the at least one processor, wherein the memory stores processor-executable instructions, which, on execution, cause the processor to:
• receive, from a token requestor, a request for a token corresponding to a payment card, wherein the token comprises a plurality of characters;
• encrypt a token key using an authentication pin before transmitting the token key to the token requestor;
• and
• transmit, to the token requestor, the token key corresponding to the token, wherein the token key comprises location information within a plurality of files in a user device, and wherein the location information comprises a location embedded with a character of the plurality of characters of the token.

A non-transitory computer-readable medium including instructions stored thereon that, when processed by at least one processor, cause the at least one processor to perform operations comprising:

• receiving, from a token requestor, a request for a token corresponding to a payment card, wherein the token comprises a plurality of characters;
• encrypting a token key using an authentication pin before transmitting the token key to the token requestor;
• and
• transmitting, to the token requestor, the token key corresponding to the token, wherein the token key is decrypted by the token requestor, using the authentication pin, for extracting the token corresponding to the payment card, wherein the token key comprises location information within a plurality of files in a user device, and wherein the location information comprises a location embedded with a character of the plurality of characters of the token.