System and method for new execution and management of financial and data transactions

A system comprising:

• a processor configured to facilitate a transaction authorization,
• a tangible, non-transitory memory configured to communicate with the processor,
• the tangible, non-transitory memory having instructions stored thereon that, in response to execution by the processor, cause the processor to perform operations comprising:
• encrypting, by the processor, a personal identification number (PIN) and at least one of a merchant identifier, a store identifier, or a point-of-sale (POS) device identifier to create a first encrypted object;
• appending, by the processor, the PIN, an account identifier and the first encrypted object;
• encrypting, by the processor, the appended account identifier and the first encrypted object with a merchant password as an encryption key, yielding a second encrypted object;
• and
• obtaining, by the processor, the transaction authorization based on the second encrypted object.

An article of manufacture including a non-transitory, tangible computer readable storage medium having instructions stored thereon that, in response to execution by a computer-based system configured to facilitate a transaction authorization, cause the computer-based system to perform operations comprising:

• encrypting, by the computer-based system , a personal identification number (PIN) and at least one of a merchant identifier, a store identifier, or a point-of-sale (POS) device identifier to create a first encrypted object;
• appending, by the computer-based system, the PIN, an account identifier and the first encrypted object;
• encrypting, by the computer-based system, the appended account identifier and the first encrypted object with a merchant password as an encryption key, yielding a second encrypted object;
• and
• obtaining, by the computer-based system, the transaction authorization based on the second encrypted object.