Method and apparatus for authenticating financial transactions

US8090657B2 · kind B2 · utility

Assignee

• Electronic Finger Print Technologies Limited · NZ

Inventors

• Colin Mitchell · Auckland, NZ
• Kurt Laurence Scholz · Auckland, NZ

Key dates

• Filing date: Jan 3, 2001
• Grant date: Jan 3, 2012
• Expiry date: Nov 11, 2026

Classification

• Technology area (CPC G): Physics
• CPC primary: G07F7/10
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A system for authentication of financial transactions using a remote terminal includes apparatus for sampling a unique biological identifier of a system user. The system has particular relevance to credit card or other electronic funds transfer transactions whereby the user may complete a transaction over the Internet, or at a merchant's remote terminal by using a unique biological identifier in place of the credit card. The unique biological identifier is preferably a finger print which is read by a camera at the personal computer or remote terminal. The image is digitized and forwarded to a clearing house to identify the appropriate account for the required transaction to be processed.