Mobile payment method and system using the same

A system for authenticating a payment transaction comprising:

• a transaction association source for providing an association code corresponding to a payment transaction;
• a transaction terminal in communication with the transaction association source for initiating the payment transaction by requesting the association code from the transaction association source, the transaction terminal configured to receive the association code;
• and
• a mobile terminal in communication with the transaction association source for transmitting the association code received by the transaction terminal to the transaction association source, and the mobile terminal for receiving data of the payment transaction from the transaction association source,
• wherein the mobile terminal is configured to transmit a response message to the transaction association source to confirm or cancel the payment transaction, and the transaction association source is configured to transmit an approve or cancel message to the transaction terminal in response to receiving the response message.