Disclosed is a system and method for processing payment options, including consolidation, selection, and secure identification. In one embodiment, multiple payment options such as credit, debit and loyalty cards are registered by a consumer and consolidated into a secure central repository. The consumer securely accesses the central repository over a secure communications channel from a remote access device, such as a point-of sale (POS) terminal at a merchant store, to retrieve and select from one of the available payment methods. Upon selection, additional data sufficient to complete the payment transaction is sent to the POS terminal. The consumer may use a piece of identification and password (e.g., one of the registered cards together with a password or personal identification number) to securely access the multiple payment options. Alternatively, the consumer is identified by using a biometric identifier, such as a fingerprint or retina scanner, without need for additional identification.