Tokenless biometric electric check transaction

Abstract

A tokenless authorization of an electronic check between a payor and a payee using an electronic third party identicator and at least one payor bid biometric sample is described. The method comprises a payor registration step, wherein the payor registers with an electronic third party identicator at least one registration biometric sample, and at least one payor checking account. In a payee registration step, the payee registers a payee identification data with the electronic third party identicator. An electronic financial transaction is formed between the payor and the payee, comprising payee bid identification data, a transaction amount, and at least one payor bid biometric sample, wherein the bid biometric sample is obtained from the payor's person, in a transaction formation step. Preferably in one transmission step the payee bid identification data, the transaction amount, and payor bid biometric sample are electronically forwarded to the third party electronic identicator. A comparator engine or the identification module of the third party identiticator compares the bid biometric sample with at least one registered biometric sample for producing either a successful or failed identification of the payor. The comparator engine compares the payee's identification data with a payee's registered identification data for producing a successful or failed identification of the payee. Once the third party identicator successfully identifies the payor and payee, a biometric-based authorization of an electronic check is issued, to transfer funds from the payor's checking account to the payee's financial account.