No assignee for this patent application has been made.
Reporters obtained the following quote from the background information supplied by the inventors: "Before the advent of credit cards, sales by retailers were normally only made for cash, or 'on account' for good customers whom they knew would pay their bill. These sales made no extra 'profit' (interest) for the retailer.
"Once credit cards first appeared on the scene they were issued by retailers, such as department stores. However, almost simultaneously, the problem of how to make certain that the card was in the rightful position of the owner appeared.
"In response to this problem, the banks assumed the possibility of any loss due to a customer not paying, but at the same time they wanted a way to verify ownership of the card. Many such systems came on the scene. Among them were those shown in US 2004/0058705 A1 to Morgan, et al.; US 2008/0120707 A1 to Ramia; US 2008/0217400 A1 to Portano; US 2007/0073619 A1 to Smith; US 2007/0057037 A1 to Woronec and US 2007/0034690 A1 to Schilling.
"However, such systems became so complex and expensive, some even having computer chips in the credit cards, that the search for a relatively simple and inexpensive way of verifying ownership continued in the art.
"How to gain back the advantage of simplicity and cost effectiveness for the retailers has eluded the art for a considerable period of time."
In addition to obtaining background information on this patent application, VerticalNews editors also obtained the inventor's summary information for this patent application: "The present invention shows how this problem is solved by providing a credit or debit card having a 'biometric' of the cardholder provided on the credit or debit card. In one embodiment of the present invention, a self-contained apparatus which would be present at the point of purchase would compare the biometric on the credit card with the biometric of the purchaser. For example, the cardholder's fingerprint may be on the card. The self-contained apparatus would contain a spot for the purchaser to place the same portion of his finger that was used to create the biometric on the apparatus. The card would also be inserted in the apparatus, and the apparatus would compare the fingerprint on the card with the fingerprint of the customer and if they matched, the card would be activated for a limited period of time, or a limited number of purchases.
"In another embodiment of the present invention, a remotely located biometric feature reader, such as a facial scanner or a hand scanner would be used. It would be located at a convenient, predetermined location. Information indicating the result of the biometric feature scan would be sent to a computer which would have in its memory information on one or more biometric feature scans. If the information from the remotely located biometric feature reader matched any of the stored biometric feature scans, the credit card would be activated.
BRIEF DESCRIPTION OF THE DRAWINGS
"The above, as well as other advantages of the present invention, will become readily apparent to those skilled in the art from the following detailed description when considered in the light of the accompanying drawings in which:
"FIG. 1 is a flow chart showing the steps involved in the practice of the present invention.
"FIG. 2 is a flow chart showing the steps involved in the practice of a modification of the present invention."
For more information, see this patent application: WORONEC, JOHN S. Inactive Credit Or Debit Card Activated by a Biometric Feature for a Limited Time Or Number of Purchases. Filed
Keywords for this news article include: Patents.
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