Embodiments of the invention are directed to methods, apparatuses, computer readable media and systems for providing a token service environment that allows a token requesting party (e.g. token requestor) to specify parameters for token generation for controlling and customizing the token generation process. For example, the token requesting party may specify (e.g. select from a list or provide a list of) the accounts for tokenization. The accounts may be identified by account identifiers (e.g. account numbers) or bank identification numbers (BINs). The token requesting party may also specify encryption keys for the tokens to be generated. The token requesting party may also specify additional parameters such as notification thresholds indicating when notifications associated with the tokens are to be generated.