Abstract: A transaction system and method, for use at merchant premises and which includes an electronic cash register (182, 54) and a scanning device (184, 60). The scanning device (184, 60) optically scans a customer code (198) on a user device (48), such as a user's smart phone (148). The customer code (198) is processed (188) using a plurality of keys to produce a plurality of processing tokens (181, 183,185), such as a financial processing token and a loyalty program token. These tokens can then be used to initiate multiple actions, such as transaction payment and loyalty program actions, from a single scan (184) of the customer code (198). The processing tokens (181, 183, 185,) may be provided to respective token vaults (192, 194, 196) for conversion to respective account numbers, e.g. for a financial account and a loyalty program account.

Abstract: A system and method for facilitating transactions using a tokenization process. A user's primary account number (PAN) may be provided by first generating an optically scannable code that can be delivered in a message to a user device, such as via SMS. The code is scanned by a reader associated with a merchant terminal and processed, e.g. via a one-way cryptographic hash, into a processing token such as a Bank Identification Number (BIN) range token. The processing token can be stored in a token vault in association with the PAN. During a transaction, the user scans their code at a reader associated with a merchant terminal. The merchant terminal manipulates the code into a processing token which is then passed into a transaction network for conversion into the PAN and subsequent transaction processing. The system is able to provide both financial transactions and loyalty program accounting using the tokenization methods.