Tokenless biometric electronic debit and credit transactions

A method for tokenless authorization of an electronic payment between a payor and a payee using an electronic identicator and at least one payor bid biometric sample, said method comprising the steps of:

• a. a payor registration step, wherein the payor registers with an electronic identicator at least one registration biometric sample, at least one payor credit/debit account data, and a payor private code with the electronic identicator, which is distinct from a personal identification number and not used in the payor identification step;
• b. a transaction formation step, wherein an electronic financial transaction is formed between the payor and the payee, comprising at least one payor bid biometric sample, wherein the bid biometric sample is obtained from the payor's person;
• c. at least one transmission step, wherein the payor bid biometric sample is electronically forwarded to the electronic identicator;
• d. a payor identification step, wherein the electronic identicator compares the payor bid biometric sample with at least one registered biometric sample for producing either a successful or failed identification of the payor;
• e. a display step, wherein the private code is displayed to the payor to validate that the authentic electronic identicator has processed the transaction;
• f. an account retrieval step, wherein the payor's previously registered credit/debit account data is retrieved;
• wherein upon successful identification of the payor, a biometric-based authorization of an electronic payment is authorized using the payor's previously registered credit/debit account data without the payor presenting smartcards or magnetic swipe cards to transfer funds from the payor's credit/debit account to a payee financial account.

A method for tokenless authorization of an electronic payment between a payor and a payee using an electronic identicator and at least one payor bid biometric sample, said method comprising the steps of:

• a. a payor registration step, wherein the payor registers with an electronic identicator at least one registration biometric sample, and at least one payor credit/debit account data;
• b. a transaction formation step, wherein an electronic financial transaction is formed between the payor and the payee, comprising at least one payor bid biometric sample, wherein the bid biometric sample is obtained from the payor's person;
• c. at least one transmission step, wherein the payor bid biometric sample is electronically forwarded to the electronic identicator;
• d. a payor identification step, wherein the electronic identicator compares the payor bid biometric sample with at least one registered biometric sample for producing either a successful or failed identification of the payor;
• e. an account retrieval step, wherein the payor's previously registered credit/debit account data is retrieved;
• f. a payor re-registration step, wherein a user's registration biometric samples are compared against previously designated biometric samples wherein if a match occurs, the computer system is alerted to the fact that the payor has re-registered with the tokenless authorization system;
• wherein upon successful identification of the payor, a biometric-based authorization of an electronic payment is authorized using the payor's previously registered credit/debit account data without the payor presenting smartcards or magnetic swipe cards to transfer funds from the payor's credit/debit account to a payee financial account.

A method for tokenless authorization of an electronic payment between a payor and a payee using an electronic identicator and at least one payor bid biometric sample, said method comprising the steps of:

• a. a payor registration step, wherein the payor registers with an electronic identicator at least one registration biometric sample, at least one payor credit/debit account data, and a payor personal identification number with the electronic identicator;
• b. a transaction formation step, wherein an electronic financial transaction is formed between the payor and the payee, comprising at least one payor bid biometric sample, wherein the bid biometric sample is obtained from the payor's person;
• c. at least one transmission step, wherein the payor bid biometric sample is electronically forwarded to the electronic identicator;
• d. a payor identification step, wherein the electronic identicator compares the payor bid biometric sample with at least one registered biometric sample for producing either a successful or failed identification of the payor;
• e. an account retrieval step, wherein the payor's previously registered credit/debit account data is retrieved;
• f. a biometric theft resolution step, wherein the payor's personal identification number is changed whenever the payor's biometric sample is determined to have been fraudulently duplicated;
• wherein upon successful identification of the payor, a biometric-based authorization of an electronic payment is authorized using the payor's previously registered credit/debit account data without the payor presenting smartcards or magnetic swipe cards to transfer funds from the payor's credit/debit account to a payee financial account.

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

• a. a computer data processing center further comprising data bases wherein the payor registers a registration biometric sample;
• 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
• e. 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 such as a credit/debit card, smartcard or a paper check is used by the payor to conduct the financial transaction;
• wherein a subset of the payor registration biometric samples are stored in a payor re-registration database, which the comparator engine compares a payor's registration biometric samples to, wherein if a match occurs, the authorization system is alerted to the fact that the payor has re-registered with the tokenless authorization system.

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

• a. a computer data processing center further comprising data bases wherein the payor registers a registration biometric sample;
• b. a party identification apparatus having a biometric sensor for input of a biometric sample and an associated display;
• 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;
• e. 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 credit/debit card, smartcard or paper check is used by the payor to conduct the financial transaction;
• and
• f. an authorization device identification means 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 on the display associated with the party identification apparatus to validate that the authentic authorization device has processed the financial transaction.