Apparatus and method for providing transaction security and/or account security

A computer-implemented transaction security method, comprising:

• storing, in a memory device of a communication device associated with an account holder, information regarding a first account of or associated with the account holder, wherein the first account is capable of being used in performing or engaging in a transaction with a counterparty;
• inputting, entering, or receiving, with or using an input device, a data entry device, or a receiver, of or associated with the communication device, data or information regarding the counterparty and information regarding an amount of the transaction, wherein the data or information regarding the counterparty includes information regarding a second account of or associated with the counterparty and information for identifying a counterparty communication device of or associated with the counterparty or information for facilitating communication with a counterparty communication device of or associated with the counterparty;
• processing, with or using a processing device or a computer of or associated with the communication device, information regarding the transaction using information regarding the first account, information regarding the second account, and the information regarding the amount of the transaction;
• generating, with or using the processing device or the computer of or associated with the communication device, a first message, wherein the first message contains information for requesting an authorization for the transaction;
• transmitting, with or using a transmitter of or associated with the communication device, the message to a transaction authorization processing computer;
• and
• receiving, with a receiver, a second message transmitted from the transaction authorization processing computer, wherein the second message contains information regarding whether the transaction is authorized or not authorized.