Abstract: A method and system for authentication of online commercial transactions between a customer and a merchant using a computer system is provided. According to a preferred embodiment, the method comprises the steps of registering a customer, wherein the customer is given a money tag device by a communication information center (CIC) and the customer registers with the CIC a PIN, at least one registration biometric sample, and at least one customer financial account. The method may also includes a merchant registration step, wherein the merchant registers with the CIC at least one merchant financial account. In a customer identification step, the customer sends personal authentication information comprising a PIN, at least one biometric sample that is obtained from the customer's person, and money tag ID to the CIC.