Abstract: An asset/account activation device and method are provided. According to a first preferred method, an asset may be activated by a point of sale device utilizing multiple security mechanisms. Activation codes are sent by secure electronic transmission from an activation host to the activation device. Upon execution of the asset purchase, the activation device dispenses the activation code. Prior thereto, a physical representation of the asset, in the form of a card or the like, has printed thereon an asset ID. To activate the asset, the asset owner contacts a processing device wherein the activation code and asset ID are compared based on time constraints, retailer location constraints and other constraints. Other security checks may be incorporated to include velocity checks. The apparatus of the invention includes an activation host, an activation device, a processing device or VRU, and an activation database.