Method And System For Payment Processing Using Distributed Digitized Surrogates

Abstract: A method for pre-authorization of a payment transaction with tokenized credentials includes: receiving a first data set signed with a first digital signature and including an acquirer identification value and a second data set; verifying the first digital signature using a first public key of a first cryptographic key pair associated with the acquirer identification value; extracting, from the first data set in response to verification of the first digital signature, the second data set including a merchant identification value and a third data set; extracting, from the second data set, the third data set including an issuer identification value and transaction data; identifying an issuing computing system based on the issuer identification value; and transmitting a fourth data set to the issuing computing system, the fourth data set including the first data set and a steward identification value.

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