System and method for securing data transaction

A system comprising:

• a network of a client and a server, wherein:
• at the client:
• a data receiving module configured to receive at least one personal identification number from a user;
• a first data processing module operable to receive the at least one personal identification number from the data receiving module and generate a first dynamic key, by a first one-time password generator using the personal identification number, wherein the first one-time password generator accesses a first instance of a value to generate the first dynamic key;
• a data encrypting module configured to receive the first dynamic key from the first data processing module and to convert the first dynamic key to a first symmetric encryption key further used to encrypt a data;
• a data transmitting unit configured to receive the encrypted data from the data encrypting module to transmit the encrypted data to a server;
• at the server:
• a first data receiving module configured to receive the encrypted data from the client and send the encrypted data to the data mapping module;
• a data mapping module configured to associate the encrypted data with a unique number and retrieving a user profile information from a database using the unique number;
• a second data processing module configured to receive the user profile information from the data mapping module, the second data processing module further configured to generate, by a second one-time password generator, a second dynamic key by retrieving the personal identification number from the user profile information, wherein the second one-time password generator accesses a second instance of the value to generate the second dynamic key;
• and
• a data decrypting module configured to receive the second dynamic key from the second data processing module, the data decrypting module converts the second dynamic key to a first symmetric decryption key, wherein the first symmetric decryption key is used to decrypt the encrypted data.

A computer program product, comprising a machine-accessible medium having instructions encoded thereon for enabling a processor to perform the operations of:

• program code adapted for providing a personal identification number;
• program code adapted for invoking a one-time password generator using the personal identification number;
• program code adapted for accessing a seed file by the one-time password generator, wherein a counter value is retrieved from the seed file to generate a dynamic key;
• and
• program code adapted for converting the dynamic key to at least one or more of:
• a symmetric encryption key;
• and
• a symmetric decryption key.
• wherein the symmetric encryption key is used to encrypt the data and the symmetric decryption key is used to decrypt the data.