A product dispensing system includes a locking mechanism to prevent actuation of the system absent an authorized product refill unit. More specifically, the dispensing system includes a housing and an actuator slidably secured within the housing and including at least one locking post extending therefrom. The actuator is adapted to actuate a pump to cause dispensing of a product. A release ring is rotatably secured within the housing and includes at least one locking post extending therefrom and aligned with the locking post of the actuator. The release ring also includes at least one ramped surface. The locking posts of the actuator and release ring engage one another in a locked position to prevent actuation of the dispensing system, and the release ring is adapted to be rotated to an unlocked position upon insertion of an authorized refill unit.