A system and method for securing a Radio Frequency (RF) transaction using
a proxy code, which is permanently assigned to the RF identification
device (RFID) transaction account number. An account issuer permanently
assigns the proxy code to a transaction account correlated to the RFID
transaction device. The proxy code is uploaded onto the transaction
device for later use in completing a transaction request. During
transaction completion, the proxy code is provided to a merchant system
in lieu of any sensitive transaction account information. Since the proxy
code is permanently assigned, the number need not be changed or updated
once uploaded into a payment device or merchant system. Since the proxy
code contains no sensitive information, the sensitive information related
to the transaction account is secured from theft where the merchant
system internal security measures may fail.