System and method for a private and secure financial transaction system using an ATM
OwnerTara Chand Singhalinventor
Life of this patent
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Abstract
A financial transaction system between a customer and a financial institution that facilitates use of a mobile wireless device at an ATM in lieu of an ATM card provides for a central system, a portable wireless device of the customer, an automated teller machine (ATM), an ATM identification on an ATM identification tag. The portable wireless device has an interface that is able to read the ATM identification. The central system, the portable wireless device, and the ATM communicate on a global computer network and the portable wireless device is used to conduct a financial transaction with the ATM in lieu of a bankcard of the financial institution.
Claims16
A system for interfacing with an ATM of a financial institution by a customer without use of a bankcard, comprising:
- a. a portable wireless device of the customer and a central system with pre-stored bankcard data of customers and the central system additionally pre-stores customer portable wireless device data, the central system hosted with a function to identify and verify customers connecting via the wireless device and selectively access their bankcard data;
- b. an automated teller machine (ATM) of the financial institution, the central system pre-stores ATM terminal identifications and their corresponding network addresses, the central system, the portable wireless device, and the ATM communicate on a global computer network;
- c. the wireless device of the customer reads an ATM terminal identification from the ATM and wirelessly sends a data record with at least the ATM terminal identification to the central system;
- d. the central system compares the received ATM terminal identification with the pre-stored ATM terminal identification to retrieve terminal network address and sends a data record to the ATM to authorize the customer to conduct financial transaction with the ATM, without the customer having a bankcard and having entered a PIN in the ATM.
A method for interfacing with an ATM of a financial institution by a customer without use of a bankcard, comprising the steps of:
- a. having by the customer a portable wireless device, and having a central system with pre-stored bankcard data of customers and additionally having pre-stored customer portable wireless device data, hosting by the central system a function to identify and verify customers connecting via their wireless devices and selectively accessing their bankcard data;
- b. having an automated teller machine (ATM) of the financial institution, pre-storing by the central system ATM terminal identifications and their corresponding network addresses, communicating on a global computer network, the central system, the portable wireless device, and the ATM;
- c. reading by the wireless device of the customer an ATM terminal identification from the ATM and wirelessly sending a data record with at least the ATM terminal identification to the central system;
- d. comparing by the central system the received ATM terminal identification with the pre-stored ATM terminal identification to retrieve terminal network address and sending a data record to the ATM authorizing the customer conducting financial transaction with the ATM, without the customer having a bankcard and entering a PIN in the ATM.
Dependencies are inferred from the claim text.