US Patent 10332110 System and method for authenticating a payment transaction

A system and method of authenticating a payment transaction between a merchant and a customer in an electronic payment system are described. Transaction details presented by the merchant are received at a mobile electronic device, the customer is authenticated by means of an authentication token presented by the customer at an authentication terminal, and the geo-location of the mobile electronic device and the authentication terminal are compared to verify that the device and terminal are within a predefined geographical distance at the time the payment transaction is processed.