Patent ID: 8345931
Filing Date: 2013-01-01
Classification: G06K,G06Q

Abstract:
1. A party verification and money transfer authorization method comprising the steps of recording a biometric characteristic of a transferor; verifying an identity of the transferor using one or more pieces of verification information provided by the transferor; comparing the recorded biometric characteristic to a database of previously registered persons to determine if the recorded biometric characteristic corresponds to a different person than the transferor; verifying the recorded biometric information is unique based on the recorded biometric characteristic not corresponding to a different person than the transferor; providing transferor biometric information to a party verification processor that verifies the identity of the transferor by comparing the transferor biometric information with the recorded biometric information, wherein the transferor identifies a transferee to receive the money; confirming that the transferor has sufficient funds or credit for the money transfer; providing transferee biometric identification to the party verification processor that verifies the transferee by comparing the transferee biometric information with previously registered biometric information from the transferee; and having the transferee provide transfer identity information before the money is given to the transferee.