Abstract: A cashless transaction processing method is disclosed. The method comprises: receiving, in an issuer server, a transaction token request from a customer device, the transaction token request comprising an indication of a payment card account associated with a customer; providing a token to the customer device in response to the transaction token request; storing an indication of the token on the issuer server; receiving, from an acquirer server, a transaction authorization request, the transaction authorization request comprising a token; authenticating the token received in the transaction authorization request against the stored token; and initiating a transaction for the transaction amount from the payment card account associated with the customer.