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Credit Card Authentication System

[Category : - Indentification and payment methods]
[Viewed 2209 times]

The invention provides for an intelligent card which includes a biometric scanning device in communication with a transmitter, the transmitter is capapble to transmit a response to authorise a transaction alternatively to decline the transaction upan authentication of a user.

The response may be an authorisation message upon successful authentication of the user and a declined message upon unsuccessful authentication of a user.

The biometric scanning device may be capable to scan a finger print, alternatively an eye retina, or any combination of the aforementioned.

The intelligent card may include a micro processor which may be in communication with the biometric scanning device and may be capable to authentic a user by comparing the scanned data received from the biometric scanning device with comparative data stored on the data storage base provided in the micro processor. Upon successful authentication of the user, to communicate to the transmitter an authorisation message and vica versa unsuccessful authentication of the user, to transmit a decline message via a response.

The micro processor may include information pertaining to the financial history of the user, name, surname, default judgements, financial alerts or any combination of the aforementioned.

The intelligent card may be a credit, alternatively a debit card and may be issued by any financial institution.

The transmitter may be a readable electronic chip, which the readable electronic chip may be read by any suitable outlet such as an auto teller machine, alternatively a card reading machine. The outlet may also be any speed point or the like equipment currently utilised in the trade.

The intelligent card may further include a pre warning system, which the pre warning system may be activated upon scanning of a pre determined finger. The pre warning system may be designed to authorise a pre determined amount of funds (limit) to be released, whilst simultaneously notifying authorities that a transaction is occurring under pretences.

It will be appreciated that instead of entering a personal identification number, the user is authenticated by scanning a finger print, alternatively an eye retina. Upon successful authentication of the user, the transaction is authorised.

The benifits of the intelligent card is that it is a very safe and effective way of ensuring that transactions are completed by the card holder.

There is no other intelligent credit / debit card on the market of such nature and therefore it is not possible to provide a comparison but I believe that this is the next step to the safest way of banking and most probably the best way into the future when using a card to complete transactions.

Financial information

I am looking to sell the invention outrightly as I do not have the internal capabilities to develop the invention further.

This invention has never been marketed or sold elsewhere and this is the first time is has been in contact with public viewing.

The potential for the invention to hit platinum in the market is massive as there has long been discutions regarding the safety of bank cards and the easy use thereof had someone got their hands on yours.

Banking organisations will be seen as unique in the world of safety and also be seen as taking a step higher when coming to bringing technology closer to the public.

I do not hold any other form of intellectual property regarding the invention but for the patent documentation on the invention.

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