A dispensing system is disclosed which utilizes an electronically powered key device and/or identification code associated with a refill container to preclude the need for mechanical keys. The system utilizes a near field frequency response to determine whether a refill container is compatible with a dispensing system. In particular, the refill container is provided with a coil terminated by one of a number of capacitors. The container is received in a housing that provides a pair of coils that are in a spatial relationship with the installed refill container's coil. By energizing one of the housing's coils, the other coil detects a unique electronic signature generated by the container's coil. If the signature is acceptable, the dispensing system is allowed to dispense a quantity of material. The system also provides a unique latching mechanism to retain the container and ensure positioning of all the coils.