Value Transfer System for Online Commerce Using Smart Card and Biometric Reader

• US 20110119182A1
• Filed: 08/31/2010
• Published: 05/19/2011
• Est. Priority Date: 08/31/2009
• Status: Abandoned Application

• Current Assignee: Sam Smolkin
• Original Assignee: Sam Smolkin
• Inventors: Smolkin, Sam
• Application Number:
  US12/872,089
• Publication Number:
  US 20110119182A1
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/349 Rechargeable cards
• CPC Class Codes: G06Q 20/40145 Biometric identity checks
• CPC Class Codes: G07C 9/257 electronically G07C9/26 takes precedence

Abstract

A closed value transfer system for online commerce using a Smart Card and a USB Biometric Smart Card and Fingerprint Reader, for making quick, private and secure online purchases.

Claims

1. A computer-based system for securely transferring funds between a first party and a second party, the computer based system comprising:

A gateway server that is internet enabled and owned and managed by a third party;

A computer terminal accessible to a first party having, inter alia, a smart card reader and a biometric reader and being connectable to the internet;

Wherein, the first party transfers a pre-selected value of funds from an external bank account owned by the first party through the gateway server to a first bank account owned by the first party;

Said first bank account is held at a partner bank;

The gateway server records in memory the transfer to independently account the funds held in said first bank account;

The first party may then instruct the gateway server over the internet to transfer a pre-selected value of funds from said first bank account to a second bank account owned by the first party and the gateway server records in memory the transfer to independently account the funds in said first bank account and said second bank account;

Said second bank account is held at said partner bank;

The first party having a smart card that is compatible with said smart card reader;

When the first party wishes to make a purchase from a second party on the internet the first party accesses the gateway server through said computer terminal the internet and logs on the gateway server proving the identity of the first party by providing both physical smart card verification data and biometric verification data to the gateway server and then the first party places a secure order with the second party over the internet and elects to pay using said computer-based system;

The second party queries said gateway server over the internet to determine if the first party is positively identified, has logged onto the server within a predetermined time frame and has sufficient funds in said second bank account to cover a purchase value of said purchase;

If said second bank account has sufficient funds and the first party has been positively identified and the first party has logged onto the gateway server within said predetermined time frame then the gateway server transfers funds in the amount of said purchase value from said second bank account to a third bank account owned by the second party and the gateway server records in memory the transfer to independently account the funds in said second bank account and said third bank account;

Said third bank account is held at said partner bank.

2. A computer-based system for securely transferring money between a first party and a second party as disclosed in claim 1, further characterized in that said biometric reader reads any of a fingerprint, eye, voice, palm or face.

3. A computer-based system for securely transferring money between a first party and a second party as disclosed in claim 1, further characterized in that the transfer from said second bank account to said third bank account can be reversed to chargeback funds from the third bank account to the second bank account.

4. A computer-based system for securely transferring money between a first party and a second party as disclosed in claim 1, further characterized in that when funds are transferred between the second bank account and the third bank account then either or both the first party and the second party are notified of the transfer by said third party.

5. A computer-based system for securely transferring money between a first party and a second party as disclosed in claim 1, further characterized in that said smart card has recorded into integral memory biometric information unique to said first party.