A system for secure transaction processing and a method there of.

Abstract

The present disclosure discloses a system (100) and method (200) for secure transaction processing. The system(100) comprises a server (102) implements a payment application (104) having a user interface (106) to allow users to register financial accounts for carrying out secure payment transactions and further having a merchant interface (108) to provide merchant details, a tokenization module (112) to tokenize said financial accounts by means of said set of tokenization rules; a scanning and extracting module (114) to scan a static hypepay QR code by means of an electronic device (116) and extract said registered merchant’s details for secure payment transactions; a transaction module (116) to open said merchant interface (108) for processing transactions, and enter the transaction amount and generate a verification code / PIN for transaction; and a verification module (118) to verify the transaction for secure transaction with transaction ID by means of said set of verification rules.