Patent ID: 6192142
Filing Date: 2001-02-20
Classification: G01F,G06F,G06K,G06Q,G07C,G07F,H04L

Abstract:
A method for tokenless biometric authorization of a stored value transaction 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 the electronic identicator at least one registration biometric sample, and at least one payor stored value account;b. a payee registration step, wherein the payee registers payee identification data with the electronic identicator;c. a transaction formation step, wherein an electronic financial transaction is formed between the payor and the payee, comprising payee bid identification data, a transaction amount, and at least one payor bid biometric sample, wherein the bid biometric sample is obtained from the payor's person;d. at least one transmission step, wherein the payee bid identification data, the transaction amount, and payor bid biometric sample are electronically forwarded to the electronic identicator;e. a payor identification step, wherein the electronic identicator compares the bid biometric sample with at least one registered biometric sample for producing either a successful or failed identification of the payor;f. a payee identification step, wherein the electronic identicator compares the payee's bid identification data with a payee's registered identification data for producing either a successful or failed identification of the payee;g. wherein upon successful identification of the payor and payee, a stored value transaction is authorized without the payor presenting a stored value card, smartcard, or magnetic swipe card to debit the payor stored value account.