An electronic payment and authentication system that includes features to
verify the authenticity of a payer, validate debit data, and facilitate
debit (as opposed to credit) payment transactions. The electronic payment
system allows a consumer to purchase items and services via a network
while utilizing a debit transaction. The invention provides merchants
with the ability to verify the identity of the consumer, determine if the
consumer is a good debit transaction risk, and retrieve debit data
associated with a particular consumer.