Patent ID: 7747528
Filing Date: 2010-06-29
Classification: G06Q

Abstract:
1. A method for conducting a biometrically-initiated financial transaction with delayed processing of payment, the method comprising: receiving information regarding a tokenless biometrically-initiated financial transaction involving a consumer and a merchant; receiving, by a computer, a biometric sample; matching, by a computer, said biometric sample to a particular biometric record of said consumer; identifying a plurality of non-zero delay periods to offer to the consumer based on the matched biometric record of said consumer; selecting one of the non-zero delay periods to apply to the processing of the financial transaction, wherein said selecting includes inputting, by said consumer, a specific future date within a bounded range of the plurality of non-zero delay periods; associating a payment instruction with the financial transaction, said payment instruction providing for a delay period in accordance with said selection; charging a fee for said delay in processing, said fee being one or more of a fixed sum, a sum equal to a percentage of the financial transaction, and the accrual of interest; calculating, by a computer, said fee based on the delay period corresponding to the specific future date inputted by the consumer; delaying the processing of the financial transaction for a period of time in accordance with the selected delay period specified in the payment instruction; and after the period of time has elapsed, initiating payment processing for the financial transaction.