System and method for securing RF transactions using a radio frequency identification device including a random number generator

A method for securing a transaction comprising:

• generating a transaction device random number at a radio frequency identification (RFID) transaction device, wherein the transaction device includes a random number generator, wherein the transaction device is associated with a transaction device identifier and a transaction device authentication tag, the transaction device identifier being different from the transaction device authentication tag;
• transmitting the transaction device identifier, the transaction device authentication tag, and the transaction device random number to a RFID reader;
• and
• validating the transaction device based at least in part on both the transaction device identifier and the transaction device authentication tag, both having been received from the transaction device, wherein the transaction device random number is used to lookup a previously stored decryption key for decrypting at least one of the transaction device identifier and the transaction device authentication tag, the transaction device random number having been received from the transaction device.

A method for securing a transaction comprising:

• generating a transaction device random number at a transaction device, wherein the transaction device includes a random number generator located at the transaction device, wherein the transaction device is associated with a transaction device identifier and a transaction device authentication tag, the transaction device identifier being different from the transaction device authentication tag;
• transmitting, from the transaction device, the transaction device identifier, the transaction device authentication tag, and the transaction device random number to a transaction device reader, wherein the transaction device reader is associated with a reader authentication tag;
• transmitting, from the transaction device reader, the transaction device identifier, the transaction device authentication tag, the transaction device random number, and the transaction device authentication tag to an account issuer associated with the transaction device;
• validating, at the account issuer, the transaction device based at least in part on both the transaction device identifier and the transaction device authentication tag, both having been received from the transaction device, wherein the transaction device random number is used to decrypt at least one of the transaction device identifier and the transaction device authentication tag, wherein the transaction device random number is used to lookup a previously stored decryption key for decrypting at least one of the transaction device identifier and the transaction device authentication tag, the transaction device random number having been received from the transaction device;
• and
• validating, at the account issuer, the transaction device reader based at least in part on the transaction device reader authentication tag, wherein the transaction device random number is used to decrypt the transaction device reader authentication tag.