Systems and methods for issuing and using dedicated tokens for rewards accounts

Abstract

Systems and methods for issuing and using dedicated tokens for rewards accounts are disclosed. In one embodiment, in a token service provider information processing apparatus comprising at least one computer processor, a method for issuing dedicated tokens for reward accounts may include: (1) receiving, from an electronic wallet, a request to provision a credit or debit-based token for a financial instrument and a dedicated reward-based token for rewards-based transactions associated with the financial instrument to an electronic wallet; (2) generating the credit or debit-based token and the dedicated reward-based token; and (3) providing the credit or debit-based token and the dedicated reward-based token to the electronic wallet and to the issuing bank.

What is claimed is: 
     
         1 . A method for issuing dedicated tokens for reward accounts, comprising:
 in a token service provider information processing apparatus comprising at least one computer processor:
 receiving, from an electronic wallet, a request to provision a credit or debit-based token for a financial instrument and a dedicated reward-based token for rewards-based transactions associated with the financial instrument to an electronic wallet; 
 generating the credit or debit-based token and the dedicated reward-based token; and 
 providing the credit or debit-based token and the dedicated reward-based token to the electronic wallet and to the issuing bank. 
   
     
     
         2 . The method of  claim 1 , wherein the request to provision the credit or debit-based token and the dedicated reward-based token for rewards-based transactions to an electronic wallet comprises a first request to provision the credit or debit-based token and a second request to provision the dedicated reward-based token for rewards-based transactions. 
     
     
         3 . The method of  claim 2 , wherein the first request comprises an account number for the financial instrument. 
     
     
         4 . The method of  claim 3 , further comprising:
 providing the account number for the financial instrument to the issuing bank of the financial instrument; and   receiving an indication that the financial instrument is eligible for the dedicated reward-based token from the issuing bank of the financial instrument.   
     
     
         5 . The method of  claim 1 , wherein the credit or debit-based token and the dedicated reward-based token each have a different Bank Identification Number (BIN). 
     
     
         6 . The method of  claim 5 , wherein the BIN for the dedicated reward-based token identifies the account as a rewards account to the issuing bank. 
     
     
         7 . The method of  claim 1 , further comprising:
 storing a mapping of the credit or debit-based token and the dedicated reward-based token to the financial instrument;   wherein the issuing bank stores the mapping of the credit or debit-based token and the dedicated reward-based token to the financial instrument in a second token vault.   
     
     
         8 . The method of  claim 1 , wherein the token service provider and the issuing bank of the financial instrument are part of the same entity. 
     
     
         9 . The method of  claim 1 , wherein the token service provider information processing apparatus further identifies the dedicated reward-based token as a secondary token. 
     
     
         10 . The method of  claim 9 , wherein the issuing bank stores an indicator with the dedicated reward-based token to the financial instrument in a second token vault, wherein the indicator identifies the dedicated reward-based token to the financial instrument as a rewards-based token. 
     
     
         11 . A method for conducting a transaction using a dedicated reward points-based token, comprising:
 in an issuing bank information processing apparatus comprising at least one computer processor:
 receiving, from a card association, a transaction authorization for a pending transaction with a merchant comprising an account number mapped to a token received from an electronic wallet, the electronic wallet provisioned with a credit or debit-based token and a dedicated reward-based token; 
 identifying the token as the dedicated reward-based token; 
 authorizing the pending transaction against available reward points for a rewards account associated with the account number; and 
 completing the transaction. 
   
     
     
         12 . The method of  claim 11 , wherein the issuing bank charges the transaction against the available reward points. 
     
     
         13 . The method of  claim 12 , wherein the issuing bank charges a remaining balance after applying the available rewards points to an account associated with the credit or debit-based token. 
     
     
         14 . The method of  claim 11 , wherein the credit or debit-based token and the dedicated reward-based token each have a different Bank Identification Number (BIN), and the token is identified as the dedicated reward-based token based on its BIN. 
     
     
         15 . The method of  claim 11 , wherein the dedicated reward-based token is identified as the dedicated reward-based token based on an identifier stored in a token vault for the issuing bank. 
     
     
         16 . The method of  claim 11 , wherein the transaction is settled by the issuing bank providing the merchant with a transaction amount for the completed transaction minus fees. 
     
     
         17 . The method of  claim 11 , wherein the token does not indicate to the merchant that it is the dedicated rewards-based token.