In a system that includes computing devices for a consumer, a merchant, and at least one payment provider, a computer implemented method is disclosed performed by the computing devices for the consumer, the merchant, and the at least one payment provider of providing a secure commercial transaction for online purchase of services, goods, or both, by establishing a three-way exchange of data between the computing devices for the consumer, the merchant, and the at least one payment provider. The method comprising a consumer computing device (110) sending an online request to a merchant computing device to purchase one or more services, goods, or both, offered by the merchant. The consumer receives billing information from the merchant (140), which includes a cost associated with the purchase of the one or more services, goods, or both and the consumer sends the billing information to at least one payment provider computing device (130). The at least one payment provider stores the billing information and the consumer requests that the at least one payment provider provide a payment token as proof of an ability of the consumer to pay the cost of the one or more services, goods, or both. The payment token includes the billing information, and the consumer has a billing account with the at least one payment provider. The consumer receives from the at least one payment provider the payment token and the payment token uniquely identifies the authorization of payment for the cost without revealing sensitive information about the billing account for the consumer to the merchant. The consumer sends the payment token to the merchant and prior to finalizing the request from the consumer to purchase the one or more services, goods, or both, the merchant sends the payment token to the at least one payment provider to validate payment with the at least one payment provider. The at least one payment provider compares the billing information within the payment token received from the merchant to the stored billing information received from the consumer to validate the payment token. The merchant receives acknowledgment from the at least one payment provider that the payment token has been validated and the merchant finalizes the request to purchase the one or more services, goods, or both by sending the acknowledgement to the consumer and the consumer receives the acknowledgement of the validity of the payment token indicating appropriate transfer of the one or more services, goods, or both, from the merchant to the consumer.
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