Systems and methods for increasing security for digital transactions with predetermined risk factors

A non-transitory computer-readable medium comprising instructions that, when executed by a processor, cause the processor to:

• solicit communication between a contactless card and a mobile device when a digital transaction initiated in connection with a user account satisfies at least one predetermined risk factor;
• receive, via a short-range communication antenna of the mobile device, a cryptogram from the contactless card;
• verify the cryptogram to identify the user account and to confirm that the contactless card is associated with the user account;
• verify that a phone number of the mobile device is associated with the user account;
• and
• when the contactless card and the phone number of the mobile device are associated with the user account, authorize execution of the digital transaction in connection with the user account.

A mobile device comprising:

• a short-range communication antenna;
• a processor;
• and
• a memory storing instructions that, when executed by the processor, cause the processor to:
• solicit communication with a contactless card when a digital transaction initiated in connection with a user account satisfies at least one predetermined risk factor;
• receive, via the short-range communication antenna, a cryptogram from the contactless card;
• verify the cryptogram to identify the user account and to confirm that the contactless card is associated with the user account;
• verify that a phone number of the mobile device is associated with the user account;
• and
• when the contactless card and the phone number of the mobile device are associated with the user account, authorize execution of the digital transaction in connection with the user account.