Abstract: A method for processing a coupon in a near field transaction includes: receiving, by near field communication, payment details and a coupon record; identifying if the coupon record is valid by comparing the coupon record to a stored configuration profile; modifying the transaction amount for the transaction based on a modifier in the coupon record; and submitting an authorization request for the transaction with the modified transaction amount and the received payment details. A method for applying a coupon in a near field transaction includes: storing payment details in a contactless application; receiving coupon data and coupon details for the coupon; displaying the coupon details to a user; receiving an indication of selection of the coupon by the user; storing the coupon data in the contactless application; and transmitting, by near field communication, the payment details and coupon data in the contactless application for use in a financial transaction.