System and method for biometric authorization for financial transactions
US7269737B2 · kind B2 · utility
Assignee
Inventor
Key dates
| Filing date | Sep 20, 2002 |
| Grant date | Sep 11, 2007 |
| Priority date | — |
| Expiry date | Jun 4, 2024 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG07C9/27
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
The present invention is a system and method of biometric-based identity verification for authorizing financial transactions between a consumer and a merchant, said system comprising distributed processing to facilitate biometric matching and various types of financial transactions to facilitate said system's integration into current financial networks. System users register at least one biometric identifier, personal and/or business identity-verifying data, and financial account information. A user presents a biometric sample obtained from the user's person and the user's system ID number to conduct financial transactions. This data is used to authenticate the user's identity and authorize transfer of funds from the user's registered financial account to the designated recipient's account by matching the presented transaction biometric with at least one registered biometric template and without the use of a man-made financial account token or identity token.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.