System and method for biological authorization for financial transactions
First Claim
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1. A method for providing approval for a third party to access a value account controlled by a primary account holder, the process comprising:
- receiving a biological sample proffered by the third party via a biological identification device;
comparing the proffered biological sample to biological identification data stored in a database;
making a determination of whether the third party has been authorized by the primary account holder to access the value account; and
in the event that the third party is determined to be authorized to access the account, transmitting an approval signal indicating that the third party may have access to the value account.
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Abstract
A system and method for selectively authorizing user-specified amounts of money for access by third parties using biological or physiological authentication. A secure infrastructure is provided via which primary account holders are free to control access by third parties to their accounts with a great deal of flexibility. The authorized third parties verify their identity at the point of purchase via a biological identification device, such as a fingerprint reader, associated with a payment terminal.
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Citations
57 Claims
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1. A method for providing approval for a third party to access a value account controlled by a primary account holder, the process comprising:
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receiving a biological sample proffered by the third party via a biological identification device;
comparing the proffered biological sample to biological identification data stored in a database;
making a determination of whether the third party has been authorized by the primary account holder to access the value account; and
in the event that the third party is determined to be authorized to access the account, transmitting an approval signal indicating that the third party may have access to the value account. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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18. A method for providing approval for a third party to access a value account controlled by a primary account holder, the process comprising:
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receiving a biological sample proffered by the third party via a biological identification device;
comparing the proffered biological sample to biological identification data stored in a database;
making a first determination, based on comparing the proffered biological sample, of whether the third party is registered in the database;
in the event that the third party is determined to be registered in the database, making a second determination of whether the third party has been authorized by the primary account holder to access the value account; and
in the event that the third party is determined to be authorized to access the value account, transmitting an approval signal indicating that the third party may have access to the account. - View Dependent Claims (19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29)
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30. A method for providing approval for a third party to access a value account controlled by a primary account holder, the process comprising:
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receiving a biological sample proffered by the third party via a biological identification device;
receiving transaction data corresponding to a transaction on the value account, initiated by the third party;
comparing the proffered biological sample to biological identification data stored in a database;
making a first determination, based on comparing the proffered biological sample, of whether the third party is registered in the database;
in the event that the third party is determined to be registered in the database, making a second determination of whether the third party has been authorized by the primary account holder to access the account; and
in the event that the third party is determined to be authorized to access the account, making a third determination of whether the transaction data goes beyond a predetermined transaction parameter limit; and
in the event that the third party is determined to be authorized to access the account, and it is determined that the transaction data does not go beyond the predetermined transaction parameter limit, transmitting an approval signal indicating that the third party may have access to the account. - View Dependent Claims (31, 32, 33, 34, 35, 36, 37, 38, 39)
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40. A method for providing approval for a third party to access an account controlled by a primary account holder, the process comprising:
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receiving a biological sample proffered by the third party via a biological identification device;
comparing the proffered biological sample to biological identification data stored in a database;
making a first determination, based on comparing the proffered biological sample, of whether the third party is registered in the database;
transmitting a signal to an empowered party indicating that the third party has initiated a transaction involving the account;
receiving a signal from the empowered party indicative of whether the transaction is approved; and
in the event that the signal received from the empowered party indicates that the transaction is approved, transmitting an approval signal indicating that the third party may have access to the account. - View Dependent Claims (41, 42)
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43. A system for biological authorization of financial transactions, the system comprising:
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a merchant terminal including a biological identification device;
a central database server connected by a first network path to the merchant terminal to receive a payment request accompanied by a biological ID signature generated by the biological identification device and a personal ID number presented by a purchaser; and
a financial institution server connected by a second network path to the central database server to receive the payment request accompanied by an authorization packet;
wherein, in the event that the financial institution server receives the payment request accompanied by the authorization packet, and the value account corresponding to the payment request has sufficient available value, then a transaction authorization is transmitted to the merchant terminal. - View Dependent Claims (44, 45, 46, 47, 48)
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49. A method for a primary account holder to establish authorization for access to a value account, the method comprising:
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receiving a biological sample proffered via a biological identification device;
comparing the proffered biological sample to biological identification data stored in a database;
making an identity determination, based on comparing the proffered biological sample, of whether the proffered biological sample is consistent with the identity of the primary account holder;
receiving a system identification number corresponding to an identified person who has previously registered their biological identification data in the database;
presenting options for transaction parameter limits for the identified person; and
receiving one or more selections of transaction parameter limits according to the options presented;
wherein, in the event that it is determined that the proffered biological sample is consistent with the identity of the primary account holder, the identified person is authorized to access the value account subject to the transaction parameter limits selected. - View Dependent Claims (50, 51, 52, 53, 54, 55, 56, 57)
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Specification