Transaction data tokenization

A method of processing electronic cashless transactions utilizing a network of electronic wallets, the method being carried-out by an operator of the network of electronic wallets in connection with a third-party payment service provider during a cashless transaction and comprising:

• receiving, by the operator of the network of electronic wallets, a request from a merchant to process a cashless transaction between the merchant and a purchaser;
• forwarding, by the operator of the network of electronic wallets, a URL to the merchant configured to direct the purchaser to a sign-in page for the network of electronic wallets;
• with the purchaser having been directed by the URL to the sign-in page and with the purchaser having signed into the network of electronic wallets, receiving, by the operator of the network of electronic wallets, a selection of an electronic wallet by the purchaser from the network of electronic wallets;
• in response to the selection of the electronic wallet, directing, by the operator of the network of electronic wallets, the purchaser to the selected electronic wallet;
• receiving, by the operator of the network of electronic wallets, first payment data from the selected electronic wallet for a payment source selected by the purchaser from within the selected electronic wallet;
• generating, by the third-party payment service provider, a payment token including a virtual card number related to the first payment data;
• providing, by the third-party payment service provider, the payment token to the merchant for prompting completion of entry of details related to the cashless transaction;
• receiving, by the third-party payment service provider, an authentication request including a total cost of the cashless transaction and the payment token;
• detokenizing, by the third-party payment service provider, the payment token received from the merchant to identify the virtual card number;
• retrieving, by the third-party payment service provider, the first payment data utilizing the virtual card number;
• passing, by the third-party payment service provider, the authentication request, including the first payment data, to a payment gateway or acquirer;
• receiving, by the third-party payment service provider, a response to the authentication request from the payment gateway or acquirer;
• and
• providing, by the third-party payment service provider, the response to the merchant, the response indicating whether approval of the cashless transaction may be confirmed by the merchant to the purchaser.