System and method for securing payment intent and optimizing value store selections

A first entity, comprising:

• a memory storing instructions;
• one or more communication interfaces;
• and
• one or more hardware processors coupled to the memory via the one or more communication interfaces, wherein the one or more hardware processors are configured by the instructions to:
• receive a payment request from a first device associated with a second entity, wherein the payment request is specific to a transaction being performed with a third entity;
• capture a payment honoring intent associated with the payment request;
• generate an encrypted intent specific payment token comprising the captured payment honoring intent and a first set of transaction affecting parameters specific to the payment request, wherein the first set of transaction affecting parameters comprises at least one of (i) a purpose, (ii) a validity, and (iii) risk details of the second entity, (iv) an associated condition honoring the intent specific payment token, and (v) a default value store linked to the encrypted intent specific payment token, and wherein during the generation of the encrypted intent specific payment token, the first entity blocks a pre-defined amount in the default value store that is specific to the payment request;
• transmit the encrypted intent specific payment token to the first device associated with the second entity, wherein the encrypted intent specific payment token is transmitted to a second device associated with the third entity, from the first device associated with the second entity;
• obtain (i) a token validation pertaining to the encrypted intent specific payment token and (ii) the encrypted intent specific payment token from the third entity based on a verification of at least one of (i) one or more specific credentials associated with the first entity and the second entity, (ii) a risk score that is dynamically computed for the second entity;
• validate the encrypted intent specific payment token obtained from the second entity based on at least one of (i) the default value store linked to the encrypted intent specific payment token, (ii) one or more offers provided to the second entity by the third entity based on the default value store, and (iii) one or more transaction affecting parameters amongst the first set of transaction affecting parameters to obtain a validated payment token;
• generate one or more recommended value stores based on the validated payment token and a second set of transaction affecting parameters;
• identify at least one recommended value store amongst the one or more recommended value stores based on one of (i) a selection of a recommended value store, (ii) an acceptance or rejection of the one or more recommended value stores, or (iii) an expiration time for selection of the one or more recommended value stores;
• and
• process a payment settlement specific to the payment request and the transaction based on the at least one identified recommended value store.

One or more non-transitory machine-readable information storage mediums comprising one or more instructions which when executed by one or more hardware processors cause:

• receiving by a first entity, a payment request from a first device associated with a second entity, wherein the payment request is specific to a transaction being performed with a third entity;
• capturing by the first entity, a payment honoring intent associated with the payment request;
• generating by the first entity, an encrypted intent specific payment token comprising the captured payment honoring intent and a first set of transaction affecting parameters specific to the payment request, wherein the first set of transaction affecting parameters comprises at least one of (i) a purpose, (ii) a validity, and (iii) risk details of the second entity, (iv) an associated condition honoring the intent specific payment token, and (v) a default value store linked to the encrypted intent specific payment token, and wherein during the generation of the encrypted intent specific payment token, the first entity blocks a pre-defined amount in the default value store that is specific to the payment request;
• transmitting by the first entity, the encrypted intent specific payment token to the first device associated with the second entity, wherein the encrypted intent specific payment token is transmitted to a second device associated with the third entity, from the first device associated with the second entity;
• obtaining by the first entity, (i) a token validation pertaining to the encrypted intent specific payment token and (ii) the encrypted intent specific payment token from the third entity based on a verification of at least one of (i) one or more specific credentials associated with the first entity and the second entity, (ii) a risk score that is dynamically computed for the second entity;
• validating by the first entity, the encrypted intent specific payment token obtained from the second entity based on at least one of (i) the default value store linked to the encrypted intent specific payment token, (ii) one or more offers provided to the second entity by the third entity based on the default value store, and (iii) one or more transaction affecting parameters amongst the first set of transaction affecting parameters to obtain a validated payment token;
• generating by the first entity, one or more recommended value stores based on the validated payment token and a second set of transaction affecting parameters;
• identifying by the first entity, at least one recommended value store amongst the one or more recommended value stores based on one of (i) a selection of a recommended value store, (ii) an acceptance or rejection of the one or more recommended value stores, or (iii) an expiration time for selection of the one or more recommended value stores;
• and
• processing by the first entity, a payment settlement specific to the payment request and the transaction based on the at least one identified recommended value store.