A method and system for a virtual stamp dispensing metering system is provided wherein indicia of varying values are calculated at a data center and downloaded to a mailing machine on a periodic basis. The mailing machine securely stores the indicia and dispenses the indicia as needed. At the end of the period, any unused indicia are returned to the data center, the user's account is credited, and a new set of indicia are downloaded to the mailing machine. Accordingly, the processing requirements of the meter are reduced, as there is no longer any need to generate digital signatures, an attacker is prevented from generating indicia indefinitely if the security of the meter is compromised, as the cryptographic key is not resident at the meter, and tracking requirements of the meter are reduced, as the meter alone can not be used to generate postage funds.