Dynamic promotion code insertion in contactless payment transaction

A method of completing a contactless payment transaction, comprising:

• receiving, by a promotion code application executing on a portable electronic device, a rule associated with at least one coupon of a plurality of coupons from an offer platform, the rule stipulating at least one criterion to be met by the portable electronic device;
• determining, by the promotion code application, based on the received rule and information specific to the portable electronic device, whether the portable electronic device is qualified to receive the at least one coupon;
• in response to determining that the portable electronic device is qualified to receive the at least one coupon based on the received rule and the information specific to the portable electronic device, generating, by the promotion code application, a code representing the at least one coupon, wherein the code certifies to the offer platform that the promotion code application determined that the portable electronic device qualifies for the at least one coupon based on the received rule and the information specific to the portable electronic device;
• subsequently transmitting, by the promotion code application, a message comprising the code via a mobile wireless network to the offer platform;
• subsequently transmitting, by the promotion code application, payment account information and the code to a point of sale terminal to complete a payment transaction, wherein the payment account information is transmitted to the point of sale terminal in a track one portion of a payment transaction message and the code is transmitted to the point of sale terminal in a track two portion of the payment transaction message, and wherein the track one portion and the track two portion are separate fields of the payment transaction message;
• sending, by the point of sale terminal, the code received from the electronic device to the offer platform;
• comparing, by the offer platform, the code received from the promotion code application to the code received from point of sale terminal;
• in response to a determination that the code received from the promotion code application matches the code received from the point of sale terminal, receiving, by the point of sale terminal, information about the at least one coupon represented by the code from the offer platform;
• and
• in response to receiving the information about the at least one coupon, charging, by the point of sale terminal, the payment account identified by the payment account information based at least in part on a discount associated with one or more coupons of the at least one coupon that apply to a product or service being purchased in the payment transaction.