Systems and Methods for Securing Electronic Transactions

A method for securing an electronic transaction, the method comprising:

• prior to receiving an electronic transaction request, defining a transaction template that comprises a set of established transaction specifications that define contents of acceptable digital instruments, the digital instrument further comprising transaction instructions that define how transactions between a first party and a second party are authorized, wherein only electronic transaction requests that correspond to the transaction template are available for authorization;
• generating a unique identifier that represents the second party;
• combining, by a first party's device, the unique identifier with a digital instrument that has been digitally signed to create a secure instrument that cannot be surreptitiously presented to an electronic transaction processing system by a third party;
• receiving an electronic transaction request from the first party's device over a secure application programming interface, the electronic transaction request comprising the unique identifier and the secure instrument that has been digitally signed by the first party, the digital signature being encrypted using an encryption type that is selected by a transaction processor;
• verifying an identity of the first party and the second party using a digital security protocol;
• verifying the digital signature using the selected encryption type;
• comparing the electronic transaction request to the transaction template;
• and
• authorizing a transfer to the second party according to transaction instructions included in the secure instrument if the electronic transaction request corresponds with the transaction template.

A system for securing an electronic transaction, comprising:

• a memory for storing executable instructions;
• a processor for executing the instructions;
• an identification generator stored in memory and executable by the processor to generate a unique payee identifier that represents a recipient;
• a communications module stored in memory and executable by the processor to receive a transaction request, the transaction request comprising an instrument that has been digitally signed by at least one originator and the unique payee identifier;
• and
• a transaction authorization module stored in memory and executable by the processor to authorize the transaction between the originator and the recipient according instructions included in the instrument.