The invention relates to the field of payment of intelligent terminals, particularly relates to a system for implementing virtualized payment of a physical card by using a client side and a management service platform which work cooperatively, and provides a prepaid card online payment system based on identity authentication. The prepaid card online payment system based on identity authentication specifically comprises a client side, payment management equipment and a management and service platform, wherein a first identity authentication module and a first NFC (near field communication) module are arranged in the client side; the token information is acquired through the first identity authentication module; payment information and the token information are transmitted to the payment management equipment through the first NFC module; a second NFC module is arranged in the payment management equipment; information transmitted from the client side is received through the second NFC module; the payment information and the token information are transmitted to the management and service platform so as to respond to the payment information; a second identity authentication module is arranged in the management and service platform; the management and service platform is used for generating and authenticating the token information; user information and prepaid card information are managed and authenticated through the second identity authentication module; identity authentication in a payment process is realized; the safety performance of the prepaid card online payment system is improved; and applications are extended.