Method and system for secure key rotation

An additional transaction server comprised of memory comprised of first and second stored encryption keys, each of the first and second encryption keys corresponding to first and second key identifiers also stored in memory, the additional transaction server adapted to

• receive a payment token;
• receive second and third key identifiers;
• determine whether the first key identifier does not match the third key identifier, and in dependence thereon, retrieve the an encryption key associated with the third key identifier;
• encrypt the payment token with the encryption keys associated with the second and third key identifiers;
• input the encrypted payment token into a data record corresponding the payment token, said entry further corresponding to the second key identifier and third identifier where the first, second and third key identifiers are distinct and the first, second and third encryption keys are distinct.

A system for processing electronic purchase transactions comprising:

• a transaction server comprised of memory comprised of first and second stored decryption keys, each of the first and second decryption keys corresponding to first and second key identifiers also stored in memory, the server further adapted to
• receive third and fourth key identifiers;
• receive a data record comprised of two entries, each entry the same payment token encrypted by third and fourth encryption keys, each key corresponding to the third and fourth key identifiers;
• determine which of the third or fourth key identifiers match the first or second key identifiers;
• select one of the two encrypted payment token entries that corresponds to the matched key identifier;
• and
• decrypt the selected entry using the decryption key residing in memory corresponding to the matched key identifier.