Patent ID: 6581042
Filing Date: 2003-06-17
Classification: G01F,G06F,G06K,G06Q,G07C,G07F,H04L

Abstract:
A method for tokenless authorization of an electronic check between a payor and a payee using an electronic identicator and at least one payor bid biometric sample, said method comprising the steps of:(a) a payor registration step, wherein the payor registers with an electronic identicator at least one registration biometric sample, and at least one payor checking account data; (b) a transaction formation step, wherein an electronic financial transaction is formed between the payor and the payee, comprising at least one payor bid biometric sample, wherein the bid biometric sample is obtained from the payor's person; (c) at least one transmission step, wherein the payor bid biometric sample is electronically forwarded to the electronic identicator; (d) a payor identification step, wherein the electronic identicator compares the payor bid biometric sample with at least one registered biometric sample for producing either a successful or failed identification of the payor; (e) an account retrieval step, wherein the payor's previously registered checking account data is retrieved; wherein upon successful identification of the payor, a biometric-based authorization of an electronic check is authorized using the payor's previously registered checking account data without the payor presenting any personalized man-made tokens including paper checks and magnetic swipe cards to transfer funds from the payor's checking account to a payee financial account.