Abstract: A mobile device, a system and method for enabling payment absent communication of payment account information or personal information at a point of sale are disclosed. The purchaser or holder of the payment account is pre-registered with a payment processing system. The purchaser's identity is authenticated and payment account information is communicated only during the pre-registration process. Thereafter, the purchaser uses their mobile device to authorize the payment transaction. The remote payment processing system directs the transfer of funds equivalent to a total purchase price from a first bank supporting the purchaser's payment account to a second bank having a merchant's account. Upon completion of the transfer or instruction, the remote payment processing system sends a confirmation to the merchant and to the purchaser via the mobile device.