System, method, and computer program product for dynamic passcode communication

A system comprising:

• at least one processor programmed and/or configured to:
• receive, with a merchant application installed on a user device, transaction data associated with a transaction at a merchant system, wherein the merchant application is associated with the merchant system, wherein the transaction data includes an account identifier associated with an account at an issuer system;
• determine, with the merchant application, based on the account identifier, whether an issuer application associated with the issuer system is installed on the user device;
• in response to determining that the issuer application associated with the issuer system is installed on the user device, transmit, from the merchant application, to the issuer application, a request for a dynamic passcode;
• receive, with the merchant application, from the issuer application, the dynamic passcode;
• transmit, from the merchant application, to the issuer system, an authorization request requesting authorization of the transaction, wherein the authorization request includes the account identifier and the dynamic passcode;
• and
• receive, with the merchant application, from the issuer system, an authorization response authorizing or denying the transaction.

A computer program product comprising at least one non-transitory computer-readable medium including program instructions that, when executed by at least one processor, cause the at least one processor to:

• receive, with a merchant application installed on a user device, transaction data associated with a transaction at a merchant system, wherein the merchant application is associated with the merchant system, wherein the transaction data includes an account identifier associated with an account at an issuer system;
• determine, with the merchant application, based on the account identifier, whether an issuer application associated with the issuer system is installed on the user device;
• in response to determining that the issuer application associated with the issuer system is installed on the user device, transmit, from the merchant application, to the issuer application, a request for a dynamic passcode;
• receive, with the merchant application, from the issuer application, the dynamic passcode;
• transmit, from the merchant application, to the issuer system, an authorization request requesting authorization of the transaction, wherein the authorization request includes the account identifier and the dynamic passcode;
• and
• receive, with the merchant application, from the issuer system, an authorization response authorizing or denying the transaction.