System and method for facilitating frictionless payment transactions field

A method for conducting a secure and frictionless payment transaction involving a merchant device and a cardholder device, the method comprising:

• receiving, by a computer system, transaction details from the merchant device via a mobile network, wherein the transaction details are specific to the payment transaction and comprise a transaction amount and a merchant geolocation;
• generating, by the computer system, based on the transaction details, a first unique resource locator (URL) specific to the payment transaction for a first communication to the cardholder device, wherein the URL is configured to permit the cardholder device to provide payment information via the mobile network to the computer system independent of the merchant device, the payment information including a payment account number (PAN) associated with a payment card for the payment transaction;
• capturing, by the computer system, the PAN communicated by the cardholder device independently of the merchant device;
• matching, by the computer system, the payment information provided by the cardholder device via the mobile network with the transaction details, wherein the matching of the payment information with the transaction details comprises checking a physical proximity of the cardholder device and the merchant device based on the merchant geolocation and a cardholder device geolocation and verifying that the URL has not been previously used to conduct a different payment transaction;
• initiating, by the computer system, a transaction authorization request based on the matching of the payment information with the transaction details being successful;
• determining, by the computer system, that a consumer verification is required;
• generating, by the computer system based on determining that a consumer verification is required, a second unique resource locator (URL) for a second communication to the cardholder device, wherein the second URL is configured to permit the cardholder device to provide a personal identification number (PIN) associated with the payment card via the mobile network to the computer system independent of the merchant device;
• and
• capturing, by the computer system, the PIN communicated by the cardholder device independently of the merchant device.