System and method of operating a secure contactless transaction

One or more non-transitory computer-readable medium, storing computer-executable instructions that, when executed by one or more processors of a first device, configure the one or more processor to perform operations comprising:

• receiving, by the first device, a payment request from a second device;
• querying, by the first device, a register to determine if an account number in the payment request is associated with an identifier associated with the first device;
• determining whether the association between the account number and the identifier exists;
• in accordance with a determination that the association exists, requesting, by the first device, to provide a position of the first device;
• determining, by the first device, whether a first position of the first device matches a second position of the second device;
• and
• in accordance with a determination that the first position of the first device matches the second position of the second device, generating, by the first device, a transaction request for a transaction configured to be transmitted to an issuer server device.

A first device, comprising:

• one or more memories configured to store computer-executable instructions;
• and
• one or more processors connected to the one or more memories and configured to execute the computer-executable instructions to at least:
• receive, by the first device a payment request from a second device;
• query, by the first device, a register to determine if an account number in the payment request is associated with an identifier associated with the first device;
• determine whether the association between the account number and the identifier exists;
• in accordance with a determination that the association exists, request, by the first device, to provide a position of the first device;
• determine, by the first device, whether a first position of the first device matches a second position of the second device;
• and
• in accordance with a determination that the first position of the first device matches the second position of the second device, generate, by the first device, a transaction request for a transaction configured to be transmitted to an issuer server device.