Transaction processing system for carrying out a verified/validated communications transaction, in particular financial transactions and/or elements of a financial transaction, the system comprising; • an NFC enabled mobile user equipment for sending to NFC shop equipment, a transaction request and a first verification data set comprised of dynamically modulated encrypted user data; • an NFC shop equipment which can communicate with the NFC enabled mobile user equipment for receiving the transaction request and the first verification data set from the NFC enabled mobile user equipment and forwarding both for processing to a transaction processing server and database; • an encryption modulation processing server for receiving a mobile device owner image and for processing the mobile device owner image by dynamic rotational encrypted modulation (D-REM)"; wherein D-REM is used to apply a predetermined or random segmentation of data pixels or image grids of the mobile device owner image, whereby a selection of data pixels or image grids is continuously modified at specified time intervals and resent in encrypted form to the NFC enabled mobile user equipment as the first verification data set and to a transaction processing server and database which could also be Cloud based as the second verification data set both being said dynamically modulated encrypted user data; • the transaction processing server and database which are connectable: to the credit card issuing bank or service provider for receiving the mobile device owner image which was verified in person by the service provider or credit card issuing bank, to the NFC shop equipment for receiving the transaction request and the first verification data set; and to the data encryption modulation processing server for receiving the second verification data set and for sending the mobile device owner image, wherein the transaction processing server and database process the first and second verification data sets to verify/validate and initiate or block the requested transaction, respectively. and • the credit card issuing bank. • an NFC enabled mobile user equipment for sending to NFC shop equipment, a transaction request and a first verification data set comprised of dynamically modulated encrypted user data; • an NFC shop equipment which can communicate with the NFC enabled mobile user equipment for receiving the transaction request and the first verification data set from the NFC enabled mobile user equipment and forwarding both for processing to a transaction processing server and database; • an encryption modulation processing server for receiving a mobile device owner image and for processing the mobile device owner image by dynamic rotational encrypted modulation (D-REM)"; wherein D-REM is used to apply a predetermined or random segmentation of data pixels or image grids of the mobile device owner image, whereby a selection of data pixels or image grids is continuously modified at specified time intervals and resent in encrypted form to the NFC enabled mobile user equipment as the first verification data set and to a transaction processing server and database which could also be Cloud based as the second verification data set both being said dynamically modulated encrypted user data; • the transaction processing server and database which are connectable: to the credit card issuing bank or service provider for receiving the mobile device owner image which was verified in person by the service provider or credit card issuing bank, to the NFC shop equipment for receiving the transaction request and the first verification data set; and to the data encryption modulation processing server for receiving the second verification data set and for sending the mobile device owner image, wherein the transaction processing server and database process the first and second verification data sets to verify/validate and initiate or block the requested transaction, respectively. and to the credit card issuing bank or service provider for receiving the mobile device owner image which was verified in person by the service provider or credit card issuing bank, to the NFC shop equipment for receiving the transaction request and the first verification data set; and to the data encryption modulation processing server for receiving the second verification data set and for sending the mobile device owner image, wherein the transaction processing server and database process the first and second verification data sets to verify/validate and initiate or block the requested transaction, respectively. and • the credit card issuing bank.