Abstract: Embodiments of systems and methods are described. These embodiments may be used to facilitate an electronic payment or request for electronic payment for real-time transactions. In particular, the embodiments comprise a hand-held communication device associated with a payer, an electronic device associated with a payee and an application server associated with an electronic payment transaction application. The hand-held communication device is adaptable to execute the application software that is configured to generate or read a machine readable barcode. The electronic device is also adaptable to execute the application software which is configured to scan or capture the machine readable barcode. The application server is configured to facilitate the electronic payment between the hand-held communication device and the electronic device.