News Column

"System and Method for Cardless Financial Transaction Using Facial Biomertics" in Patent Application Approval Process

August 28, 2014



By a News Reporter-Staff News Editor at Politics & Government Week -- A patent application by the inventor S, NITHIN VIDYA PRAKASH (COONOOR, TN), filed on March 8, 2013, was made available online on August 14, 2014, according to news reporting originating from Washington, D.C., by VerticalNews correspondents.

This patent application has not been assigned to a company or institution.

The following quote was obtained by the news editors from the background information supplied by the inventors: "A credit card is a payment card issued to users as a system of payment. It allows the cardholder to pay for goods and services based on the card holder's promise to pay for them. The issuer of the card creates a revolving account and grants a line of credit to the consumer (or the user) from which the user can borrow money for payment to a merchant or as a cash advance to the user.

"Nowadays, credit card usage has been increased considerably which leads to credit card fraudulent happening in a variety of ways. The most common fraud related to credit card are lost, stolen or theft of credit card which could fall in wrong hands and further may result in hacking and duplicating of the credit card.

"The problem with the existing credit card usage is that the credit card holder has to carry the credit card physically and needs to present at the time of making the payment. Most often people handover the credit card for payment of bill at restaurant, filling stations, etc. and the user who takes the credit card from the customer can disappear out of sight for some time before returning with a counterfoil for signature verification. This time can be used for hacking or duplicating the credit card.

"Due to increase in credit card usage people may have more than one credit card issued from various banks which can further increase the risk of credit card fraud.

"These days many people do most of the shopping and banking on the web and at the time of payment user need to enter their card information such as card number, account number and password which may increase the risk of hacking of users card information.

"There are few attempts made in the prior arts to develop a system and method for secure financial transaction, wherein the credit card usage along with the biometric verification at the time of transaction. This method somewhat decreases the fraud related to credit card usage but insufficient to eradicate it completely because the user may also need to present the credit card at the time of financial transaction.

"Therefore there is a need to develop a system and method for facilitating secure cardless financial transaction which should allow the user to use his identity itself as a credit card at the time of financial transaction along with some pass codes (pin codes, etc) for double verification of the user.

"Further there is a need to develop a system and method for secure cardless financial transaction in which multiple credit card bank accounts can be managed as a single account and the credit card holders facial identity itself can be used instead of credit card at the time of financial transaction and also the multiple banks accounts can be distinguished through separate pin code for each bank account thus avoiding the risk of theft or stolen of the credit card.

"Still there is a need to develop a system and method for online financial transaction in which the user's bank account information is not required to enter at the time of payment and user's facial biometric identity can itself be used for the payment along with the pin code."

In addition to the background information obtained for this patent application, VerticalNews journalists also obtained the inventor's summary information for this patent application: "In view of the foregoing, an embodiment herein discloses a system and method for facilitating cardless financial transaction as well as online cardless financial transaction, wherein the face of the user can itself be assigned as the credit card or more specifically as credit card number for financial transaction. In an embodiment, one time registration process of the user can be done for assigning the credit card number which can include capturing the user facial biometrics by the 3-D facial recognition system. Further the captured image of the user may be processed and converted into primary digital data for further converting into the unique alpha numeric number or numeric number for the user's face. The unique number may be credit card number which is equivalent to the user's face, and can be stored in the separate block in the server's databases. Also, other biometrics (iris scan, body scan, finger print, voice recognition, etc) of the user and the pass codes (pin code, alphanumeric code) defined by the user can be stored as secondary data separately in the server's database for providing double verification and for the additional security.

"According to an embodiment, a method for making payment through cardless transaction at the point of sale (POS) is provided, wherein the method includes the step of capturing the facial image of the user using face capturing device and converted it into numeric template. Plurality of input devices can be provided at the point of sale (POS) through which the user can input his other biometric (iris scan, body scan, finger print, voice recognition, etc) data and pass codes (pin code and alphanumeric code). The numeric template along with other biometric, codes may be compared with primary and secondary data stored in the server's data base. If both the compared data matches, then the transaction may proceed and if both the data differs, then the transaction may be denied.

"According to an embodiment, a method for making payment through cardless online transaction, wherein a secure connection between the user side and the payment engine side can be established. At the user's side in which the user's facial image may captured along with the other biometric data and the pass codes (pin code or alphanumeric code), which may be compared with the user data stored in the server's database. If both the compared data matches, then the transaction may proceed and if both the data differs, then the transaction may be denied.

"According to an embodiment, a system for facilitating cardless financial transaction as well as online cardless financial transaction, wherein the system can include image processing module, face recognition module, conversion module, input module, comparison and verification module, secondary verification module, validation & processing module, server's database module and other modules.

"According to an embodiment, multiple bank card accounts of the user can be used as a single combined account from which the user can choose which account to use at the time of financial transaction, which can be differentiated by using three digit alphanumeric codes assigned for each bank account.

"These and other aspects of the embodiments herein will be better appreciated and understood when considered in conjunction with the following description and the accompanying drawings. It should be understood, however, that the following descriptions, while indicating preferred embodiments and numerous specific details thereof, are given by way of illustration and not of limitation. Many changes and modifications may be made within the scope of the embodiments herein without departing from the spirit thereof, and the embodiments herein include all such modifications.

BRIEF DESCRIPTION OF THE DRAWINGS

"The detailed description is set forth with reference to the accompanying figures. In the figures the use of the same reference numbers in different figures indicates similar or identical items.

"FIG. 1 illustrates a platform for assigning or generating credit card number, wherein an one time registration process for converting the facial biometrics into credit card number is provided, according to an embodiment herein;

"FIG. 2 illustrates a method for cardless transaction at the point of sale (POS), according to an embodiment herein;

"FIG. 3 illustrates a method for secure online financial transaction by using the facial information (biometric) as the substitute for credit card number for online payment settlement, according to an embodiment herein; and

"FIG. 4 illustrates a system for cardless transaction using facial biometrics of user using facial recognition system, according to an embodiment herein;"

URL and more information on this patent application, see: S, NITHIN VIDYA PRAKASH. System and Method for Cardless Financial Transaction Using Facial Biomertics. Filed March 8, 2013 and posted August 14, 2014. Patent URL: http://appft.uspto.gov/netacgi/nph-Parser?Sect1=PTO2&Sect2=HITOFF&u=%2Fnetahtml%2FPTO%2Fsearch-adv.html&r=1032&p=21&f=G&l=50&d=PG01&S1=20140807.PD.&OS=PD/20140807&RS=PD/20140807

Keywords for this news article include: Patents, Legal Issues.

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Source: Politics & Government Week


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