Patent ID: 6985608

Claim:
A method for tokenless authorization of a financial 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 an electronic identicator at least one registration biometric sample and at least one payor account data; b. a transaction formation step, wherein the 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. an identification step, wherein the electronic identicator compares the payor bid biometric sample with at least one registered biometric sample for accessing the payor's previously registered account data; and e. a transaction payment step, wherein payor pays payee without the payor presenting smart cards or magnetic swipe cards.