Systems and methods for generating shared secret key for transaction cards

A system, comprising:

• an application comprising instructions contained in a memory of a user device, wherein, when executed by the user device, the application is configured to:
• read, from a transaction card via a communication field, a transaction card public key,
• transmit, to a server, the transaction card public key,
• receive, from the server, a server public key, and
• transmit, to a transaction card via the communication field, the server public key.

A non-transitory computer readable medium containing computer executable instructions that, when executed by a computer hardware arrangement, cause the computer hardware arrangement to:

• reading, from a transaction card via a communication field, a transaction card public key;
• transmitting, to a server, the transaction card public key;
• receiving, from the server, a server public key;
• and
• transmitting, to a transaction card via the communication field, the server public key.