Abstract: The present invention relates to a method for authenticating financial transactions by using an additional factor which is not present on a physical card, and which is not used in sequential transactions. In one example, a purchaser provides card information to a merchant; the merchant transmits the card information and transaction information to an issuer; the issuer authenticates the card information, and transmits verification indicia to a target address associated with the card information. The purchaser target address may be the telephone number of a mobile telephone of the purchaser or a third party (e.g. parent). The purchaser or third party provides the verification indicia to a merchant; and the merchant transmits the verification indicia back to the issuer. The issuer authenticates that the received verification indicia relative to that sent to the target address, and thus the purchaser is the genuine or authentic person authorized to use card information; and the issuer approves the transaction.