Means of authenticating a consumer using demand deposit account data

A non-transitory machine-readable storage medium, having thereon a program of instruction which, when executed by processor, cause the processor to:

• receive identifying information related to a payment device from a device holder to be authenticated;
• solicit, from a data repository, transactional information related to an account drawn upon by the payment device;
• present one or more challenge questions to the device holder to be authenticated, the one or more challenge questions being related to the transactional information;
• receive, from the device holder to be authenticated, responses to the one or more challenge questions;
• determine whether at least a predetermined number of the responses to the one or more challenge questions corresponds with the transactional information;
• and
• authenticate the device holder to be authenticated based upon the determining that at least a predetermined number of the responses to the one or more challenge questions corresponds with the transactional information.

A system for monitoring cashless transaction data, the system comprising:

• a computer including a processing device and a non-transitory, machine-readable storage medium, having thereon a program of instruction which, when executed by processor, cause the processor to:
• receive identifying information related to a payment device from a device holder to be authenticated;
• solicit, from a data repository, transactional information related to an account drawn upon by the payment device;
• present one or more challenge questions to the device holder to be authenticated, the one or more challenge questions being related to the transactional information;
• receive, from the device holder to be authenticated, responses to the one or more challenge questions;
• determine whether at least a predetermined number of the responses to the one or more challenge questions corresponds with the transactional information;
• and
• authenticate the device holder to be authenticated based upon the determining that at least a predetermined number of the responses to the one or more challenge questions corresponds with the transactional information.