System and method for enhanced transaction security

A method for enhanced transaction security, comprising:

• at a gateway device, receiving from a wireless device of a mobile subscriber a request message, the request message indicative of a transaction involving a third-party and identifying the third party as a retailer with whom a payment portion of a purchase is to be completed;
• performing at least one processing step on aspects of the request message, using at least (a) information from the request message, (b) registration information previously supplied by the mobile subscriber, and (c) information previously obtained about the third-party, yielding one or more security policies;
• generating, based at least on aspects of the one or more security policies, a Personal Identification Number (PIN);
• preserving at least the PIN in a repository;
• and
• generating and sending a response message to the mobile subscriber, the response message containing at least the PIN,
• wherein the PIN is employed to initiate the transaction involving the third-party.