Methods and systems for payment transaction at merchant device from customer wallet

A server system associated with a payment network for enabling an electronic payment from a merchant device, the server system comprising:

• a communication interface;
• a storage interface;
• a memory comprising stored instructions;
• and
• at least one processor communicably coupled to the memory, the processor configured to execute the stored instructions to cause the server system to:
• receive a customer credential from a merchant wallet application accessible in the merchant device,
• validate the received customer credential based at least on a stored customer credential present in a database accessible to the server system,
• generate a payment request signal based at least on the customer credential and a merchant credential,
• transmit the payment request signal to a wallet server of a customer,
• receive a successful payment signal representing a payment transaction from the wallet server of the customer to a wallet server of a merchant, and
• transmit a notification signal comprising successful payment information to the merchant device.

A method of enabling an electronic payment from a merchant device, the method comprising:

• facilitating, by a server system associated with a payment network, an actionable button for accessing a payment transaction service on a user interface (UI) displayed on a merchant wallet application, wherein the actionable button is accessed by a customer to provide a virtual payment address (VPA) of a customer wallet and a service password for the customer to access the payment transaction service, and wherein the UI is associated with the server system;
• receiving, by the server system, the VPA of the customer wallet, the service password, payment details, and a VPA of a merchant wallet from the UI in the merchant wallet application accessible in the merchant device;
• validating, by the server system, the received VPA of the customer wallet and the service password based at least on a stored VPA of the customer wallet and the service password present in a database accessible to the server system;
• generating, by the server system, a payment request signal based at least on the VPA of the customer wallet and the VPA of the merchant wallet;
• transmitting, by the server system, the payment request signal to a wallet server of a customer wallet application;
• receiving, by the server system, a successful payment signal representing a payment transaction from a wallet server of a customer to a wallet server of a merchant;
• and
• transmitting, by the server system, a notification signal comprising successful payment information, to the merchant wallet application on the merchant device.