Method and system for facilitating digital wallet based payment card transactions

A server system associated with a payment network, the server system comprising:

• a database configured to store digital wallet accounts for a plurality of users, each digital wallet account comprising information related to one or more payment cards associated with a respective user, each payment card from among the one or more payment cards capable of facilitating at least one financial transaction;
• and
• a computer system in operative communication with the database, the computer system comprising:
• a communication interface configured to receive payment card information provided by a user to an online merchant in relation to online purchase transaction, the payment card information associated with consent from the user to add a corresponding payment card to a digital wallet account;
• and
• a processor in operative communication with the communication interface, the processor configured to:
• perform one of:
• create the digital wallet account for the user if no record of the digital wallet account for the user exists at the server system and add the payment card to the digital wallet account created for the user, and
• add the payment card to the digital wallet account if a record of the digital wallet account for the user exists at the server system, the payment card added to the digital wallet account using the payment card information;
• and
• facilitate processing of payment for the online purchase transaction based on the payment card information associated with the payment card.

A computer-implemented method comprising:

• receiving, by a processor, personal contact information related to a user from an online merchant, the user engaged in an online purchase transaction with the online merchant;
• using the personal contact information, determining by the processor, if a record of the digital wallet account for the user exists in a database;
• receiving, by the processor, payment card information provided by the user to the online merchant in relation to the online purchase transaction, the payment card information associated with consent from the user to add a corresponding payment card to the digital wallet account;
• creating the digital wallet account for the user by the processor if no record of the digital wallet account for the user exists in the database;
• facilitating, by the processor, user activation of the digital wallet account using the personal contact information;
• and
• subsequent to activation of the digital wallet account, adding the payment card to the digital wallet account by the processor upon successful user authentication, the payment card added to the digital wallet account using the payment card information, wherein processing of payment for the online purchase transaction is performed based on the payment card information associated with the payment card.