Abstract: An electronic payment system is described that includes a payer device capable of performing an electronic payment process in which an electronic payment is executed, the payer device including a positioning unit that is capable of determining the current location of the payer device, a payee device capable of receiving the electronic payment; and a payment verification unit that is capable of performing a location-based verification check. The payer device transmits its current location to the payment verification unit during the electronic payment process and the payment verification unit accepts or rejects the electronic payment based on the current location of the payer device. A corresponding method is also described.