Electronic payment processing method and system with smart/authenticate fields and definitions

A system for supporting authentication processing of commercial transactions conducted over a communications network between consumers and merchants, comprising:

• one or more non-transient computer readable mediums that have computer executable instructions to:
• receive payment information for a commercial transaction between a consumer and a merchant over the communications network, wherein the payment information identifies a payment instrument supporting an authenticated payment program;
• determine whether to authenticate the consumer using the authenticated payment program based on authentication criteria defined by the merchant;
• and,
• authenticate the consumer over the communications network in accordance with the authenticated payment program if authentication is determined to be appropriate based on the authentication criteria defined by the merchant;
• and,
• one or more processors that executable the computer executable instructions stored on the non-transient computer readable mediums.