Tokenless biometric electronic financial transactions via a third party identicator
View Patent ↗The invention provides a method and device for tokenless authorization of an electronic payment between a payor and a payee using an electronic third party identicator and at least one payor bid biometric sample. In a payor registration step, the payor registers with an electronic third party identicator at least one registration biometric sample, and at least one payor financial account identifier. The payee registers a payee identification data with the electronic third party identicator. A payee bid identification data and a payor bid biometric sample collected from the payor's person are electronically forwarded to the third party electronic identicator. A comparator engine compares the bid biometric sample with at least one registered biometric sample for producing either a successful or failed identification of the payor. The comparator engine also 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. Once the electronic third-party identicator successfully identifies the payor and payee, the identicator electronically forwards at least one payor financial account identifier to the payee. An electronic financial transaction is then formed between the payor and payee, comprising a transaction amount and a payor financial account identifier. This transaction is then electronically forwarded to a financial transaction processor for authorization.
1. A tokenless electronic payment authorization device for transferring funds from a payor financial account to a payee financial account, said device comprising:
a computer data processing center further comprising one or more data bases wherein the payor registers a registration biometric sample associated with at least one payor financial account identifier and the payee registers a payee identification data;
a party identification apparatus (PIA) having a biometric sensor for input of a biometric sample;
communication lines for transmission of a registration and bid biometric sample obtained by the party identification apparatus from the payor's person to the data processing center;
a comparator engine for comparing a bid biometric sample to at least one registration biometric sample, and comparing a bid payee identification data with at least one registration payee identification data; and
means coupled to the party identification apparatus for receiving a message containing the payor's financial account identifier(s) and transmitting an account index code identifying a payor financial account and a transaction amount from the PIA to a financial transaction processor to authorize a payment from the payor's financial account to the payee;
the system being arranged so that the biometric sample is sent together with payee identification data to the comparator engine and the message containing the payor's financial account identifier(s) is sent from the computer data processing center to the PIA only if the bid and registration payee data match and if the bid and registration payor biometric samples match.
2. The authorization device of claim 1 , wherein no credit/debit card, smartcard or a paper check is used by the payor to conduct the financial transaction.
3. The authorization device of claim 1 , wherein the payee identification data comprises any one of the following: a payee hardware ID code, a payee telephone number, a payee email address, a payee digital certificate code, a payee account index, a payee financial account number, a payee biometric, and a payee biometric and PIN combination.
4. The authorization device of claim 1 , wherein the payor registration biometric sample is associated with a PIN, the PIN used by the authorization device for identification the payor.
5. The authorization device of claim 1 , including means coupled to the party identification apparatus for receiving the message and transmitting the payor financial account identifier and a transaction amount to a financial transaction processor via the payee to authorize a payment from the payor's financial account to the payee.
6. The authorization device of claim 1 further comprising an account selector module, wherein after the payor has been successfully identified, the authorization device presents at least one financial account which was registered by the payor with the authorization device for selection of one of the financial accounts by the payor for debiting.
7. The authorization device of claim 1 including an execution module which debits the transaction amount from a payor's selected financial account.
8. The authorization device of claim 7 , wherein the execution module credits the transaction amount to the payee's financial account.
9. The authorization device of claim 1 further comprising a transaction processor wherein the payor registers a private code with the authorization device, which is distinct from a personal identification number and not used to identify the payor, wherein the private code is displayed to the payor to validate that the authentic authorization device has processed the financial transaction.
10. The authorization device of claim 1 wherein a subset of the payor registration biometric samples are stored in a payor re-registration database to which the comparator engine compares a payor's registration biometric samples and if a match occurs, alerts the authorization system to the fact that the payor has re-registered with the tokenless payment authorization system.
11. The authorization device of claim 1 , wherein the computer data processing center and the comparator engine are included in an electronic third party identicator.
12. The authorization device of claim 1 , wherein the message containing the payor's financial account identifier(s) is sent to the PIA from the computer data processing center.
13. The authorization device of claim 1 , including means coupled to the party identification apparatus for receiving the message and transmitting the payor financial account identifier and a new transaction amount from the PIA to a financial transaction processor to authorize a payment from the payor's financial account to the payee, the new transaction amount being the sum of a cash back amount and a transaction amount.