IDENTIFICATION OF CUSTOMERS AND USE OF VIRTUAL ACCOUNTS

• US 20110213710A1
• Filed: 05/12/2011
• Published: 09/01/2011
• Est. Priority Date: 02/05/2008
• Status: Abandoned Application

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Griggs, Christopher R., Ghosh, Debashis, Giordano, Joseph A., Joa, David, Bendel, Timothy J., O'Hagan, Michael James, Newman, Kurt D.
• Application Number:
  US13/105,998
• Publication Number:
  US 20110213710A1
• Time in Patent Office: Days
• US Class Current: 705/44
• CPC Class Codes: G06F 21/32 using biometric data, e.g. fingerprints, iris scans or voiceprints
• CPC Class Codes: G06Q 10/06 Resources, workflows, human or project management; Enterprise or organisation planning; Enterprise or organisation modelling
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/40145 Biometric identity checks
• CPC Class Codes: G06V 40/19 Sensors therefor
• CPC Class Codes: G07C 9/257 electronically G07C9/26 takes precedence
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

Systems and methods for authorizing an individual for purchasing a product and/or service are described. Monetary funds of a customer of a company may be received into a monetary account of the company at the financial entity. The received monetary funds of the customer may be maintained virtually in a non-monetary account with the non-monetary account value being proportional to the received monetary funds. A determination may be made as to whether an identified customer is authorized to make a purchase with an associated payment amount. The customer may be identified by a scanned iris. Upon determining the identified customer is authorized, the non-monetary account value may be decreased proportional to the associated payment amount.

Claims

1. An apparatus comprising:

at least one processor; and

at least one memory having stored therein computer executable instructions, that when executed by the at least one processor, cause the apparatus to perform a method of;

receiving monetary funds of a customer of a company into a monetary account of the company at the financial entity;

maintaining the received monetary funds of the customer virtually in a non-monetary account, the non-monetary account value being proportional to the received monetary funds;

determining whether an identified customer is authorized to make a purchase with an associated payment amount; and

upon determining the identified customer is authorized, decreasing the non-monetary account value proportional to the associated payment amount.

2. The apparatus of claim 1, the at least one memory having stored therein further computer executable instructions, that when executed by the at least one processor, cause the apparatus to perform a method of maintaining the monetary account of the company at the financial entity.

3. The apparatus of claim 1, the at least one memory having stored therein further computer executable instructions, that when executed by the at least one processor, cause the apparatus to perform a method of identifying the customer based upon a scanned biometric parameter of the customer.

4. The apparatus of claim 3, wherein the biometric parameter is an iris, the apparatus further comprising an iris scanner configured to scan an iris of the customer as the biometric parameter.

5. The apparatus of claim 1, wherein determining whether the identified customer is authorized to make the purchase includes determining whether a sufficient non-monetary account value exists in the non-monetary account to make the purchase.

6. The apparatus of claim 5, wherein upon determining that a sufficient non-monetary account value does not exist in the non-monetary account to make the purchase, the at least one memory having stored therein further computer executable instructions, that when executed by the at least one processor, cause the apparatus to perform a method of receiving additional monetary funds from the customer.

7. The apparatus of claim 5, wherein upon determining that a sufficient non-monetary account value does not exist in the non-monetary account to make the purchase, the at least one memory having stored therein further computer executable instructions, that when executed by the at least one processor, cause the apparatus to perform a method of receiving additional monetary funds of the customer into the maintained monetary account.

8. A computer-implemented method comprising:

receiving monetary funds of a customer of a company into a monetary account;

maintaining the received monetary funds of the customer virtually in a non-monetary account, the non-monetary account value being proportional to the received monetary funds;

determining whether an identified customer is authorized to make a purchase with an associated payment amount; and

upon determining the identified customer is authorized, decreasing the non-monetary account value proportional to the associated payment amount.

9. The computer-implemented method of claim 8, the computer-implemented method further comprising maintaining the monetary account of the company at the financial entity.

10. The computer-implemented method of claim 8, the computer-implemented method further comprising identifying the customer based upon a scanned biometric parameter of the customer.

11. The computer-implemented method of claim 10, wherein the biometric parameter is an iris, the method further comprising scanning the iris of the customer.

12. The computer-implemented method of claim 8, wherein determining whether the identified customer is authorized to make the purchase includes determining whether a sufficient non-monetary account value exists in the non-monetary account to make the purchase.

13. The computer-implemented method of claim 12, wherein upon determining that a sufficient non-monetary account value does not exist in the non-monetary account to make the purchase, the method includes receiving additional monetary funds from the customer.

14. The computer-implemented method of claim 12, wherein upon determining that a sufficient non-monetary account value does not exist in the non-monetary account to make the purchase, the method includes receiving additional monetary funds of the customer into the maintained monetary account.

15. One or more non-transitory computer-readable media storing computer-readable instructions that, when executed by at least one computer, cause the at least one computer to perform a method of:

maintaining a monetary account of a company at a financial entity;

receiving monetary funds of a customer of the company into the maintained monetary account;

maintaining the received monetary funds of the customer virtually in a non-monetary account, the non-monetary account value being proportional to the received monetary funds;

determining whether an identified customer is authorized to make a purchase with an associated payment amount; and

upon determining the identified customer is authorized, decreasing the non-monetary account value proportional to the associated payment amount.

16. The one or more non-transitory computer-readable media of claim 15, the computer-readable instructions that, when executed by at least one computer, further cause the at least one computer to perform a method of identifying the customer based upon a scanned biometric parameter of the customer.

17. The one or more non-transitory computer-readable media of claim 16, wherein the biometric parameter is an iris, the method further comprising scanning the iris of the customer.

18. The one or more non-transitory computer-readable media of claim 15, wherein determining whether the identified customer is authorized to make the purchase includes determining whether a sufficient non-monetary account value exists in the non-monetary account to make the purchase.

19. The one or more non-transitory computer-readable media of claim 18, wherein upon determining that a sufficient non-monetary account value does not exist in the non-monetary account to make the purchase, the computer-readable instructions that, when executed by at least one computer, further cause the at least one computer to perform a method of receiving additional monetary funds from the customer.

20. The computer-implemented method of claim 18, wherein upon determining that a sufficient non-monetary account value does not exist in the non-monetary account to make the purchase, the computer-readable instructions that, when executed by at least one computer, further cause the at least one computer to perform a method of receiving additional monetary funds of the customer into the maintained monetary account.