The present invention relates generally to a system and method for performing a secure financial transaction and, in particular, to a system and method that utilizes a smartcard to perform a financial transaction, such as a payment transaction. At least some known point of sale (POS) locations, when utilizing a payment instrument that contains a card number and associated cardholder verification data, perform an authorization process, such as dynamic data exchange (DDE) or an electronic funds transfer (EFT), with a remote server computer prior to completing the payment transaction. The authorization process is often time consuming and may further require increased processing power of the remote server computer. Additionally, known POS locations may perform fraud checks with the remote server computer and further provide additional security checks based on the physical position of the POS location. However, known POS locations, known remote server computers, and known fraud detection methods lack the ability to efficiently and accurately monitor the performance of a POS location and, further, the performance of each POS location within a store, which can lead to potential loss of sales and other monetary consequences. Additionally, many customers perform transactions with POS locations using more than one type of payment instrument. A POS location may be unaware of the number of payment instruments associated with a customer who is conducting a transaction. For example, a customer may be in possession of a credit card and a debit card and the customer may be performing a transaction using the credit card and the debit card. It would be desirable to have a system that is capable of efficiently and accurately monitoring the performance of a POS location and each POS location within a store, wherein the POS location can efficiently and accurately monitor the performance of the POS location and each POS location within a store at the POS location that is associated with the POS location. It would be further desirable to have a system that can efficiently and accurately monitor the performance of a POS location and each POS location within a store that does not require the use of a remote server computer. It would be still further desirable to have a system that is capable of efficiently and accurately monitoring the performance of a POS location and each POS location within a store at the POS location that is associated with the POS location. It would be even further desirable to have a system that can efficiently and accurately monitor the performance of a POS location and each POS location within a store that does not require the use of card authorization data. It would be desirable to provide a system and a method that would overcome the above-noted deficiencies. In particular, it would be desirable to have a system and a method for monitoring the performance of a POS location and each POS location within a store that has associated therewith that do not require the use of a remote server computer and that are capable of efficiently and accurately monitoring the performance of the POS location and each POS location within a store that is associated with the POS location. It would be further desirable to have a system and a method for monitoring the performance of a POS location and each POS location within a store at the POS location that do not require the use of a remote server computer. Additionally, it would be desirable to have a system and a method that can efficiently and accurately monitor the performance of a POS location and each POS location within a store that does not require the use of card authorization data. The teachings herein extend to those embodiments that fall within the scope of the appended claims, regardless of whether they accomplish one or more of the above-mentioned needs.