Systems and methods for managing token-based transactions

US10937027B1 · kind B1 · utility

Assignee

• JPMORGAN CHASE BANK, N.A. · US

Inventors

• Benjamin John Sokol · Carrboro, US
• Ryan A. Schlosser · New York, US
• Jordan Butler · Hitchcock, US
• Howard SPECTOR · Mount Salem, US
• Scott H. Ouellette · Kingston, US
• Winter P. Ng · Lutz, US

Key dates

• Filing date: Nov 8, 2016
• Grant date: Mar 2, 2021
• Expiry date: Apr 20, 2039

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/385
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

Systems and methods for managing token-based transactions are disclosed. According to one embodiment, a method for managing token-based transactions may include (1) a token manager server comprising at least one computer processor receiving, from a customer, a request to provide a payment token to a merchant; (2) the token manager server receiving, from the customer, an identification of a first financial instrument and a second financial instrument to associate with the payment token; (3) the token manager server receiving, from the customer, an allocation of a transaction between the first financial instrument and the second financial instrument; (4) the token manager server generating the payment token and associating the payment token with the first financial instrument and the second financial instrument; and (5) the token manager server providing the payment token to the merchant.