A computer-implemented system and method that includes receiving, by a mobile wallet bank computer system, a product code that identifies a product after a user of a mobile device has been authenticated, determining, by the mobile wallet bank computer system, the identity of a merchant from a plurality of merchants based on at least a portion of the product code, sending, by the mobile wallet bank computer system, the received product code to a merchant computer, sending, by the mobile wallet bank computer system, information regarding the product and merchant bank information, and transferring, by the mobile wallet device, a payment for the product to a merchant bank from an account held by the user based on the information sent.