Authenticating users to atms and other secure machines for cardless transactions

A method for authenticating a transaction comprising:

• receiving with a mobile device transaction information from an external device when the mobile device is in proximity of the external device, the transaction information comprising at least one of a monetary value and an identity of a merchant associated with a transaction;
• recovering a first seed key from two or more seed keys stored on a memory of the mobile device if at least one of:
• the monetary value associated with the transaction is greater than a predetermined amount, and
• the identity of the merchant associated with the transaction does not correspond to a trusted merchant;
• recovering a second seed key from the two or more seed keys stored on a memory of the mobile device if at least one of:
• the monetary value associated with the transaction is less than or equal to the predetermined amount, and
• the identity of the merchant associated with the transaction corresponds to a trusted merchant;
• and
• transmitting authentication information generated with the recovered seed key from the mobile device to an authentication system.

A non-transitory computer program product comprising a computer-readable storage medium having computer-readable program code embodied therewith, the computer-readable program code being configured to be executed by an apparatus with a memory that stores two or more seed keys and comprising:

• computer-readable program code configured to receive transaction information from an external device when the apparatus is in proximity of the external device, the transaction information comprising at least one of a monetary value and an identity of a merchant associated with a transaction;
• computer-readable program code configured recover a first seed key from the two or more seed keys stored on the memory if at least one of:
• the monetary value associated with the transaction is greater than a predetermined amount, and
• the identity of the merchant associated with the transaction does not correspond to a trusted merchant;
• computer-readable program code configured to recover a second seed key from the two or more seed keys stored on the memory if at least one of:
• the monetary value associated with the transaction is less than or equal to the predetermined amount, and
• the identity of the merchant associated with the transaction corresponds to a trusted merchant;
• and
• computer-readable program code configured to transmit authentication information generated with the recovered seed key to an authentication system via the communication interface.