Method and system for facilitating designated payment transaction

A server system in a payment network for enabling usage of a payment card of a first user for making a payment transaction by an electronic device of a second user, the server system comprising:

• a communication interface for receiving a tokenization request generated by the first user, the tokenization request at least comprising a card information of the payment card and an identifier of the electronic device of the second user;
• a memory comprising executable instructions;
• and
• a processor communicably coupled to the communication interface and configured to execute the instructions to cause the server system to at least:
• facilitate an authorization of the tokenization request;
• upon successful authorization of the tokenization request, generate a digital token comprising a tokenized card information of the payment card;
• and
• facilitate the digital token to the electronic device of the second user for making the payment transaction on behalf of the first user at a merchant interface.

A server system in a payment network for enabling usage of a payment card of a first user for making a payment transaction by an electronic device of a second user, the server system comprising:

• a database for storing a digital token comprising a tokenized card information of the payment card;
• a communication interface for receiving the digital token presented by the second user at a merchant interface;
• a memory comprising executable instructions;
• and
• a processor communicably coupled to the communication interface and the database, the processor configured to execute the instructions to cause the server system to:
• validate the digital token;
• upon successful validation of the digital token, retrieve the card information of the payment card from the digital token;
• facilitate completion of the payment transaction by the second user on behalf of the first user upon successful authorization of the card information.