A key for opening multiple axial pin locks has a base member with an indexing element and a number of lock pins, configured to match the keyways of the locks. The key has a microprocessor with access to information on the pin configuration for each lock to be opened, and the lock pins are selectively positioned along the base member to match the configuration of a key for a particular lock in response to the user entering an identification code for that lock. The lock pins can slidably engage recessed tracks in the base member, which serve to direct the lock pins parallel to an axis of the base member. A pin latching mechanism can be provided to secure the lock pins in the desired position.