1. A method for authenticating an electronic transaction between a consumer and a merchant without using a passcode or personal identification number (PIN), wherein the method occurs at the merchant and comprises: receiving account information associated with a debit card account at a merchant computer system from the consumer over the Internet, wherein the consumer accesses the Internet using a consumer's computer, and the account information does not include a passcode or a personal identification number (PIN) for the debit card account; confirming, at the merchant computer system, enrollment of the debit card account for digital signature authentication from a financial institution; receiving, at the merchant computer system, consumer specific authentication parameters from the financial institution, wherein the consumer specific authentication parameters comprises an authentication scheme comprising a hosted or a local digital signature service; sending transaction information from the merchant computer system over the Internet to the consumer's computer for a digital signature; sending the authentication scheme over the Internet from the merchant computer system to the consumer's computer; receiving, at the merchant computer system, a digital signature from the consumer's computer over the Internet, wherein the digital signature does not include a passcode or personal identification number (PIN) for the debit card account, and the digital signature comprises encrypted portions of the transaction information; sending, from the merchant computer system, the transaction information and the digital signature comprising encrypted portions of the transaction information to the financial institution; receiving, at the merchant computer system, payment authorization from the financial institution; and sending, from the merchant computer system, a receipt URL to the financial institution, the receipt URL later sent to the consumer by the financial institution.