Tokenless biometric electronic debit and credit transactions

A tokenless electronic payment authorization system for transferring funds from a payor credit/debit account to a payee financial account, said system comprising:

• a. a computer data processing center further comprising data bases wherein the payor registers a registration biometric sample and the payee registers a payee identification data;
• b. a party identification apparatus having a biometric sensor for input of a biometric sample;
• c. 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;
• d. 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
• an execution module for authorizing transfer of a transaction amount from the payor credit/debit account to the payee financial account upon successful identification of the payor, wherein no man made memory devices, comprising the group of credit/debit cards, smart cards, and paper checks, is used by the payor to conduct the financial transaction.

A tokenless electronic payment authorization system for transferring funds from a payor credit/debit account to a payee financial account, said system comprising:

• a. at least one computer data processing center further comprising data bases wherein the payor registers a registration biometric sample and the payee registers a payee identification data;
• b. a party identification apparatus having a biometric sensor for input of a biometric sample;
• c. 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;
• d. 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;
• e. an account selector module, wherein after the payor has been successfully identified, the authorization system presents at least one credit/debit account which was registered by the payor with the authorization system for selection of one of the credit/debit accounts by the payor for debiting, and
• f. an execution module for authorizing transfer of a transaction amount from the payor selected credit/debit account to the payee financial account, wherein no man made memory devices, comprising the group of credit/debit cards, smart cards, and paper checks, is used by the payor to conduct the financial transaction.