we managed to solved this one after some headache
basic thing is , verify that you have created your web application which will host the site by using SharePoint Commerce Configuration Wizard for SharePoint 2010
becasue it creates some profile providers related entries to your web.config file (I guess related with Claim based authentication)
after adding this line to web.config error was resolved
<addname="i"type="Microsoft.SharePoint.Administration.Claims.SPClaimsAuthMembershipProvider, Microsoft.SharePoint, Version=220.127.116.11, Culture=neutral, PublicKeyToken=71e9bce111e9429c"