Patent ID: 7216803

Claim:
A method for a first smart card owner to delegate or authorize the execution of a financial transaction to a second smart card owner at a financial institution, the delegation or authorization process comprising the steps of: authenticating the first smart card owner as the true owner of the first smart card; creating a delegated or authorized transaction on the first smart card owner's account, wherein the delegated or authorized transaction is the financial transaction delegated or authorized by the first card owner to the second card owner and wherein a delegated transaction comprises a first card owner giving a second card owner the authority or proxy to execute the transaction on the first card owner's behalf; authenticating biometrically the second smart card owner as the true owner of the second smart card; encrypting the delegated or authorized transaction of the first smart card owner; storing the encrypted delegated or authorized transaction in a remote back-end host server; storing the encrypted delegated or authorized transaction in the second smart card; and, executing the delegated or authorized transaction stored in the second smart card or the remote back-end host server by an authorized personnel of the financial institution.