Computer system and computer-implemented method for processing an electronic commerce transaction using a network

A computerised method for processing an e-commerce transaction initiated by a customer, the method comprising:

• receiving, from a merchant server, an authentication request, the authentication request comprising at least a payment card identifier;
• generating an authentication code associated with the e-commerce transaction for authenticating the customer, a portion of the authentication code comprising a unique identifier;
• storing, in a payment network database, the authentication code as a stored authentication code;
• transmitting the unique identifier to the merchant server, wherein the merchant server presents the unique identifier to the consumer via a merchant website associated with the merchant server;
• transmitting the authentication code and an indication of the payment card to an issuer server, wherein the issuer server communicates the authentication code to the customer;
• receiving, from the merchant server, a customer entered authentication code which was entered by the customer into a merchant website associated with the merchant server;
• determining if the customer entered authentication code matches the stored authentication code;
• and
• if the customer entered authentication code matches the stored authentication code:
• generating an authentication indication;
• storing, in the payment network database, the authentication indication as a stored authentication indication;
• and
• transmitting, to the merchant server, an authentication response comprising the authentication indication.

A non-transitory computer-readable medium having stored thereon program instructions for causing at least one processor to:

• receive, from a merchant server, an authentication request, the authentication request comprising at least a payment card identifier;
• generate an authentication code associated with the e-commerce transaction for authenticating the customer, a portion of the authentication code comprising a unique identifier;
• store, in a payment network database, the authentication code as a stored authentication code;
• transmit the unique identifier to the merchant server, wherein the merchant server presents the unique identifier to the consumer via a merchant website associated with the merchant server;
• transmit the authentication code and an indication of the payment card to an issuer server, wherein the issuer server communicates the authentication code to the customer;
• receive, from the merchant server, a customer entered authentication code which was entered by the customer into a merchant website associated with the merchant server;
• determine if the customer entered authentication code matches the stored authentication code;
• and
• if the customer entered authentication code matches the stored authentication code:
• generate an authentication indication;
• store, in the payment network database, the authentication indication as a stored authentication indication;
• and
• transmit, to the merchant server, an authentication response comprising the authentication indication.