WO2011004401A2

WO2011004401A2 - Cardless banking

Info

Publication number: WO2011004401A2
Application number: PCT/IN2010/000463
Authority: WO
Inventors: Kapil Jagdish Karwa; Jagdish Girdharilal Karwa
Original assignee: Kapil Jagdish Karwa; Jagdish Girdharilal Karwa
Priority date: 2009-07-09
Filing date: 2010-07-09
Publication date: 2011-01-13
Also published as: WO2011004401A3

Abstract

A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system comprising identity reading means adapted to read identities of said user, authentication means adapted to authenticate said user based on received codes, read PINs, said read identities to actuate a transaction at said kiosk.

Description

CARDLESS BANKING

FILED OF THE INVENTION:

This invention relates to systems for card-less banking.

BACKGROUND OF THE INVENTION:

Banks are financial institutions which provide a secure mode for allowing a person to park funds. These funds may be used by the bank themselves at a rate of interest provided to the user. While banks act as central repositories for storing moneys of several varied persons or individuals or corporate, the user further has facilities to use this money from varied locations through a network of kiosks or ATMs or POS terminal which are linked to the bank and have secure mechanisms to provide authentication.

In the current art, magnetic cards such as ATM cards are provided to allow authentication data, and the person carrying the card has a special PIN dedicated to the card which allows an authenticated method of transacting.

Flowever, it has been noticed, through usage over the years that people using such cards tend to forget the cards at the kiosk itself. There are instances wherein the cards get stuck within the machine, thus causing temporary inconvenience. The hassle of safely guarding the card from theft is another major concern for a user.

Hence, there is a need for an improvised banking system for the user.

OBJECTS OF THE INVENTION:

An object of this invention is to eliminate the dependency of cards for banking purposes, typically, during interactions with ATM machines, kiosks, POS or the like.

Another object of the invention is to provide a simple, secure, and robust mechanism of authentication for transacting money or for bank related transactions. SUMMARY OF THE INVENTION:

According to this invention, there is provided a system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprises:

a. ATM card reading means adapted to read encrypted data on said card;

b. PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

c. identity reading means adapted to read an identity based on device discovery of said mobile phone;

d. authentication means adapted to authenticate said user based on said read ATM Card and said read ATM pin; and

e. database means adapted to store said read device identities after successful authentication.

In accordance with another embodiment of this invention, there is provided a system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprises:

a. ATM card reading means adapted to read encrypted data on said card;

d. mobile number reading means at a kiosk adapted to read mobile number of said user; e.■ authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin; and

f. database means adapted to store said read device identities after successful authentication.

In accordance with yet another embodiment of this invention, there is provideda system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprises:

a. ATM card reading means adapted to read encrypted data on said card;

b. PIN receiving means adapted to receive PIN corresponding to said ATM card from said user; c. identity reading means adapted to read an identity based on device discovery of said mobile phone;

d. mobile number reading means at a kiosk adapted to read mobile number of said user; e. confirmation delivery means adapted to send registration confirmation;

f. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin; and

g. database means adapted to store said read device identities after successful authentication.

In accordance with still another embodiment of this invention, there is provided a system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprises:

a. registration requesting means adapted to request for registration;

b. confirmation delivery means adapted to send registration confirmation;

c. ATM card reading means adapted to read encrypted data on said card;

d. PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

e. mobile number reading means at a kiosk adapted to read mobile number of said user; f. identity reading means adapted to read an identity based on device discovery of said mobile phone;

g. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin; and

h. database means adapted to store said read device identities after successful authentication.

In accordance with an additional embodiment of this invention, there is provided a system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprises: >

a. registration requesting means adapted to request for registration;

b. confirmation delivery means adapted to send registration confirmation;

c. ATM card reading means adapted to read encrypted data on said card;

d. PIN receiving means adapted to receive PIN corresponding to said ATM card from said user; e. identity reading means adapted to read an identity based on device discovery of said mobile phone;

Typically, said system includes authentication means adapted to authenticate said user on said mobile number if same is previously stored or available with bank, else it will be registered for using these service.

In accordance with yet an additional embodiment of this invention, there is provided a system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprises:

a. ATM card reading means adapted to read encrypted data on said card;

c. mobile number reading means at a kiosk adapted to read mobile number of said user; d. identity reading means adapted to read an identity based on device discovery of said mobile phone;

e. MPIN generating means adapted to generate a MPIN;

f. MPIN delivery means adapted to deliver a generated MPIN;

g. MPIN input means at authenticated source adapted to input said MPIN;

h. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin, said read MPIN; and i

i. database means adapted to store said read device identities after successful authentication.

In accordance with still an additional embodiment of this invention, there is provided a system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprises:

a. ATM card reading means adapted to read encrypted data on said card;

d. MPIN generating means adapted to generate a MPIN;

e. MPIN delivery means adapted to deliver a generated MPIN;

f. MPIN input means at authenticated source adapted to input said MPIN;

g. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin and said read MPIN; and >

In accordance with another additional embodiment of this invention, there is provided a system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprises:

a. MPIN requesting means adapted to request a MPIN;

b. MPIN generating means adapted to generate a MPIN;

c. MPIN delivery means adapted to deliver a generated MPIN;

d. ATM card reading means adapted to read encrypted data on said card;

e. PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

f. mobile number reading means at a kiosk adapted to read mobile number of said user; g. identity reading means adapted to read an identity based on device discovery of said mobile phone;

h. MPIN input means at authenticated source adapted to input said MPIN;

i. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin, said read MPIN; and

j. database means adapted to store said read device identities after successful authentication.

In accordance with yet another additional embodiment of this invention, there is provided a system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprises:

a. MPIN requesting means adapted to request a MPIN;

b. MPIN generating means adapted to generate a MPIN;

c. MPIN delivery means adapted to deliver a generated MPIN; d. ATM card reading means adapted to read encrypted data on said card; e. PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

f. identity reading means adapted to read an identity based on device discovery of said mobile phone;

g. MPIN input means at authenticated source adapted to input said MPIN;

h. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin and said read MPIN; and

Typically, wherein said system includes authentication means adapted to authenticate said user based on mobile number as one of the parameter if MPIN is delivered to mobile number or received through mobile number.

Alternatively, wherein said system includes authentication means adapted to authenticate said user on said mobile number if same is previously stored or available with bank, else it will be registered for use.

Alternatively, wherein said system includes means to read MPIN as first code, said first code tagged with a counter for validating said tagged first code for a pre-defined period of time in order to make said system activate for a predefined time period as first code.

In accordance with still another additional embodiment of this invention, there is provided a system for cardless banking, said system including a registration means adapted to register a user using a mobile tool, adapted to be resident on said user's mobile phone, in connection with a remotely located server, said registration means comprises:

a. mobile tool requesting means adapted to request mobile tool from an authenticated source;

b. mobile tool delivery means adapted to deliver said requested mobile tool on user's device;

c. receiving means adapted to receive user's identity;

d. authentication means adapted to authenticate said user based on user's identity received on authenticated source; e. mobile tool reading means adapted to read device identifications on said device; f. delivery means adapted to deliver said read device identifications; and

g. system confirmation means adapted to confirm registration of said user upon successful authentication.

In accordance with another additional embodiment of this invention, there is provided a System for cardless banking, said system including a registration means adapted to register a user using a mobile tool, adapted to be resident on said user's mobile phone, in connection with a remotely located server, said registration means comprises:

c. MPIN generating means adapted to generate MPIN;

d. MPIN delivery means adapted to deliver said generated MPIN;

e. receiving means adapted to receive user's identity and MPIN;

f. authentication means adapted to authenticate said user based on user's identity and MPIN received on authenticated source;

g. mobile application reading means adapted to read device identifications on said device;

h. delivery means adapted to deliver said read device identifications; and

i. system confirmation means adapted to confirm registration of said user.

In accordance with an additional embodiment of this invention, there is provided a System for cardless banking, said system including a registration means adapted to register a user using a mobile tool with system generated key, adapted to be resident on said user's mobile phone, in connection with a remotely located server, said registration means comprises:

a. mobile tool requesting means adapted to request mobile tool with system generated key from an authenticated source;

c. MPIN generating means adapted to generate MPIN;

d. MPIN delivery means adapted to deliver said generated MPIN; e. modification means adapted to modify said received MPIN with system generated code;

f. receiving means adapted to receive user's identity and modified MPIN;

g. authentication means adapted to authenticate said user based on user's identity and modified MPIN received on authenticated source;

h. mobile tool reading means adapted to read device identifications on said device; i. delivery means adapted to deliver said read device identifications; and j . system confirmation means adapted to confirm registration of said user.

Typically, said registration means includes database means adapted to store at least one user's identity based on a plurality of user's identities previously accepted by banking system.

Alternatively, said registration means includes device identifications means adapted to select identification of device based on reading parameters selected from a plurality of identification parameters which includes wireless ID or BluetoothID or IMEI or Mobile number of user.

Alternatively, said registration means includes registration means adapted to register received device identifications of said user with banking system for cardless banking upon successful authentication.

Alternatively, said registration means includes re-verification means adapted to re-verify registered device identifications on authenticated source having device identification means and user identity reading means.21. A system as claimed in claims 14, 15 and lόwherein, said registration means includes identification encryption decryption means adapted to encrypt or decrypt device identification or user identification, using said mobile tool, to provide additional layer of security.

In accordance with another embodiment of this invention, there is provided a System for cardless banking, said system including a registration means adapted to register a user using a mobile tool with system generated key, adapted to be resident on said user's mobile phone, in connection with a remotely located server, said registration means comprises:

a. mobile tool requesting means adapted to request mobile tool with system generated key from authenticated source; b. mobile tool delivery means adapted to deliver said requested mobile tool on user's mobile phone;

c. MPIN generating means adapted to generate MPIN;

d. MPIN delivery means adapted to deliver said generated MPIN;

e. modification means, on said mobile tool, adapted to modify said received MPIN with said system generated key;

f. MPIN sending means adapted to send said modified MPIN;

g. receiving means adapted to receive user's identity and modified MPIN;

h. authentication means adapted to authenticate said user based on said received device identifications, said received user's identity and said received modified MPIN on authenticated source; and

i. system confirmation means adapted to confirm registration of said user.

Alternatively, said registration means includes registration means 'adapted to register received device identifications of said user with banking system for cardless banking upon successful authentication.

Alternatively, said registration means includes identification encryption decryption means adapted to encrypt or decrypt device identification or user identification, using said mobile tool, to provide additional layer of security.

In accordance with yet another embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system comprises:

a. identity reading means adapted to read identities of said user; b. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

c. first code generating means adapted to generate first code;

d. first code delivery means adapted to deliver said generated first code to said user; e. first code receiving means on said kiosk adapted to receive said delivered first code from said user; and

f. authentication means adapted to authenticate said user based on said received first code, said read ATM PIN, said read identities to actuate a transaction at said kiosk.

Typically, wherein said system includes receiving means for receiving a first code on a mobile phone having a mobile tool with system generated key delivered during registration.

Alternatively, wherein said system includes modification means adapted to modify said first code with said system generated key, on said mobile tool, to obtain a modified code for authentication.

Alternatively, wherein said system includes timer means for said first code generation means adapted to activate said generate first code for a pre-defined period of time in order to make said system active for said, pre-defined period of time.

Alternatively, wherein said system includes identity reading means adapted to read identities of said user selected from means based on device discovery means or mobile number reading means or combination of both.

In accordance with still another embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system comprises:

a. first code requesting means adapted to request a first code by sending said delivered MPIN at the time of registration;

b. first code generating means adapted to generate said requested first code upon successful authentication of said user;

c. first code delivery means adapted to deliver said generated first code;

d. identity reading means adapted to read identities of said user; e. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

f. first code receiving means on said kiosk adapted to receive said delivered first code from said user; and

g. authentication means adapted to authenticate said user based on said received first code, said read ATM PIN, and said read identities to actuate a transaction at said kiosk;

In accordance with still an additional embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system comprises:

a. first code requesting means adapted to request a first code;

c. first code delivery means adapted to deliver said generated first code;

d. identity reading means adapted to read identities of said user;

e. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

g. authentication means adapted to authenticate said user based on said received first code, said read ATM PIN, and said read identities to actuate a transaction at said kiosk.

Typically,, said system includes requesting means for requesting first code through mobile tool upon successful authentication.

Alternatively,, said system includes authentication means for authenticating through mobile tool based on user identity or MPIN or device identifications or combination of any thereof.

Alternatively, , said mobile tool includes modification means adapted to modify MPIN or first code for use in the authentication process using system generated key on said mobile tool. Alternatively, said system includes receiving means for receiving first code on said mobile tool with system generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

Alternatively, said system includes timer means for said first code generation means adapted to activate said generate first code for a pre-defined period of time in order to activate said system for predefined time period in relation to said first code.

Alternatively, said system includes identity reading means adapted to read identities of said user selected from means based on device discovery means or mobile number reading means or combination of both.

In accordance with another additional embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system comprises:

a. identity reading means adapted to read identities of said user;

b. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user; and

c. authentication means adapted to authenticate said user based on said read ATM PIN, said read identities to actuate a transaction at said kiosk.

a. requesting means, on said mobile phone, adapted to request for system activation; b. generating means adapted to generate said system activation message;

c. delivery means adapted to deliver said system generated message to said mobile phone;

d. identity reading means adapted to read identities of said user;

e. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user; and f. Authentication means adapted to authenticate said user based on said system generated code, said read ATM PIN, said read identities to actuate a transaction at said kiosk.

Typically, said system includes identity reading means adapted to read identities of said user being selected from means based on device discovery means or mobile number reading means or combination of both.

In accordance with an additional embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk housed in a booth with an entry restricting means for carrying out banking transactions, said system comprises:

a. first reading means on said entry restricting means adapted to read an identity of mobile phone of said user;

b. first authentication means adapted to authenticate said user based on said read identity for allowing entry in said booth;

c. second reading means on said kiosk adapted to read said identities of mobile phone of said user;

d. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

e. first code generating means adapted to generate first code ;

f. first code delivery means adapted to deliver first code to said user;

g. first code receiving means on said kiosk adapted to receive said delivered first code from said user; and

h. authentication means adapted to authenticate said user based on said received first code, said read ATM PIN, said read identities to actuate a transaction at said kiosk.

Typically, said system includes receiving means for receiving first code on said mobile tool with system generated key and further includes modification means adapted to modify said received first code with- system generated key for using said modified first code for authentication process.

Alternatively, wherein said system includes retrieving means and sending means on said mobile tool adapted to retrieve and send device details used for authentication on server. Alternatively, said system includes timer means for said first code generation means adapted to activate said generated first code for a pre-defined period of time in order to activate said system for pre-defined time period as first code.

Alternatively, said system includes second reading means adapted to read identities of said user, identity of said device discovery means or first code based on user's location or mobile number or their combination.

Alternatively, said system includes first reading means on said entry restricting means adapted to read an identity of said user, said identity selected from a plurality of identities consisting of identity can be device identification based on device discovery means or mobile number or location based first code generated based on user's location can be used for authentication at entry booth of said user.

In accordance with another embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk housed in a booth with an entry restricting means for carrying out banking transactions, said system comprises:

a. first reading means on said entry restricting means adapted to read an identity of a mobile phone of said user;

c. first code generating means adapted to generate first code;

d. first code delivery means adapted to deliver first code to said user;

e. second reading means on said kiosk adapted to read said identities of mobile phone of said user;

f. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

h. authentication means adapted to authenticate said user based on said received first code, said read ATM PIN, said read identities to actuate a transaction at said kiosk. In accordance with an additional embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk housed in a booth with an entry restricting means for carrying out banking transactions, said system comprises:

a. first code requesting means adapted to request a first code by sending said MPIN delivered at the time of registration;

c. first code delivery means adapted to deliver said generated first code;

d. first reading means on said entry restricting means adapted to read an identity of said user;

e. first authentication means adapted to authenticate said user based on said read identity for allowing entry in said booth;

f. second reading means on said kiosk adapted to read said identities of mobile phone of said user;

g. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

h. first code receiving means on said kiosk adapted to receive said delivered first code from said user; and

i. authentication means adapted to authenticate said user based on said received first code, said read ATM PIN and said read identities to actuate a transaction at said kiosk.

In accordance with yet an additional embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk housed in a booth with an entry restricting means for carrying out banking transactions, said system comprises:

a. first code requesting means adapted to request a first code;

c. first code delivery means adapted to deliver said generated first code;

d. first reading means on said entry restricting means adapted to read an identity of said user; e. first authentication means adapted to authenticate said user based on said read identity for allowing entry in said booth;

g. ATM PESf receiving means adapted to receive PIN corresponding to said ATM card from said user;

Typically, said system includes requesting means for requesting first code through mobile tool upon successful authentication.

Alternatively, said system includes authentication means adapted to authenticate user identity through mobile tool based on user identity or MPIN or device details or combination of any thereof.

Alternatively, said system includes modification means adapted to modify MPESf or first code based on system generated key for use in said authentication process.

Alternatively, said system includes receiving means for receiving first code on said mobile tool with system generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

Alternatively, wherein said system includes timer means for said first code generation means adapted to activate said generated first code for a pre-defined period of time in order to activate said system for a pre-defined period of time as first code.

Alternatively, wherein said system includes second reading means adapted to read identities of said user, identity of said device discovery means or first code based on user's location or mobile number or their combination. ' Alternatively, said system includes first reading means on said entry restricting means adapted to read an identity of said user, said identity selected from a plurality of identities consisting of identity can be device identification based on device discovery means or mobile number or location based first code generated based on user's location can be used for authentication at entry booth of said user.

In accordance with still another embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk housed in a booth with an entry restricting means for carrying out banking transactions, said system comprises:

d. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user; and

e. authentication means adapted to authenticate said user based on said read ATM PIN, said read identities to actuate a transaction at said kiosk.

Typically, said system includes second reading means adapted to read identities of said user, identity of said device discovery means or first code based on user's location or mobile number or their combination.

Alternatively, said system includes timer means for said first code generation means adapted to validate said generated first code for pre-defined period of time in order to activate said system for pre-defined time period in relation to said first code. In accordance with still an additional embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a POS for carrying out banking transactions, said system comprises:

a. identity reading means adapted to read identities of said user;

b. first code generating means adapted to generate first code;

c. first code delivery means adapted to deliver generated first code to said user;

d. first code receiving means on said POS adapted to receive said delivered first code from said user; and

e. authentication means adapted to authenticate said user based on said received first code, said read identities to actuate a transaction at said POS.

Typically, said system includes receiving means for receiving first code on said mobile tool with system generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

Alternatively, said system includes retrieving means on said mobile tool for retrieving device identities and further includes sending means on said mobile tool for sending device identities for authentication on server.

Alternativelysaid system includes timer means for first code generation means adapted to activate said generate first code for a pre-defined period of time in order to activate said system for pre-defined time period in relation to said first code.

In accordance with another embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a POS for carrying out banking transactions, said system comprises: a. first code requesting means adapted to request a first code by sending said delivered MPIN at the time of registration;

c. first code delivery means adapted to deliver said generated first code;

d. identity reading means adapted to read identities of said user;

e. first code receiving means on said POS adapted to receive said delivered first code from said user; and

f. authentication means adapted to authenticate said user based on said received first code, and said read identities to actuate a transaction at said POS.

In accordance with yet another embodiment of this invention, there is provided a cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a POS for carrying out banking transactions, said system comprises:

a. first code requesting means adapted to request a first code;

c. first code delivery means adapted to deliver said generated first code;

d. identity reading means adapted to read identities of said user;

Alternatively, said system includes authentication means on said mobile tool adapted to authenticate said user based on user identity or MPIN or device details or combination of any thereof.

Alternatively, said system includes modification means adapted to modify MPIN or first code for use in the authentication process using system generated key on said mobile tool. Alternatively, said system includes receiving means for receiving first code on mobile tool with system generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

Alternatively, said system includes timer means for first code generation means adapted to activate said generated first code for a pre-defined period of time in order to activate said system for pre-defined time period in relation to said first code

Alternatively, said system includes identity reading means adapted to read identities of said user being selected from means based on device discovery means or mobile number reading means or combination of both.

In accordance with an additional embodiment of this invention, there is provided a cardless • system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a POS for carrying out banking transactions, said system comprising:

a. identity reading means adapted to read identities of said user.

b. MPIN receiving means adapted to receive MPIN from said user; and

c. authentication means adapted to authenticate said user based on said read MPIN, said read identities to actuate a transaction at said POS.

Typically, said system includes receiving means for receiving first code on mobile tool with system^■ generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

Alternatively, said system includes timer means for said first code generation means adapted to activate said generated first code for a pre-defined period of time in order to activate said system for pre-defined period of time in relation to said first code.

Alternatively, said system includes identity reading means adapted to read identities of said user being selected from means based on device discovery means or mobile number reading means or combination of both. BRIEF DESCRIPTION OF THE ACCOMPANYING DRAWINGS:

The invention will now be described in relation to the accompanying drawings, in which:

Figure 1 illustrates a schematic of the card-less banking system; Figure 2 illustrates a flow diagram of the registration mechanism;

Figure 3 illustrates a flow diagram of the card-less banking system when the kiosk is housed outside of a booth; and

Figure 4 illustrates a flow diagram of the card-less banking system when the kiosk is housed inside a booth.

DETAILED DESCRIPTION OF THE ACCOMPANYING DRAWINGS:

Figure 1 illustrates a schematic of the card-less banking system in accordance with this invention.

According to this invention, there is provided a card-less system of banking, typically for providing an interaction mechanism with a kiosk (K) or POS terminal to carry out services related to banking such as withdrawal of money, transfer of money, deposit of money and the

^'like.

According to an alternative embodiment of this invention, there is provided a card-less system of banking, typically for providing an interaction mechanism with a kiosk (K) housed within a booth or without booth to carry out services related to banking such as withdrawal of •money, transfer of money, deposit of money and the like.

According to another embodiment of this invention, there is provided a registration mechanism (RM) adapted to allow a user to initiate / register fields relating to mobile phone such as mobile phone number, handset (IMEI) number, Bluetooth identity and the like relevant identities to facilitate error-free and a secure card-less banking environment. In accordance with an embodiment of this invention, there is provided a first one-time registration mechanism (RM). Once the KYC (Know Your Customer) norms are fulfilled, user is allowed to register a mobile phone by virtue of its identity number (IMEI number), by virtue of an associated mobile phone number, by virtue of its associated Bluetooth identity number or any combination thereof.

In accordance with an embodiment of this invention, there is provided at least one kiosk (K) connected to a banking/financial institution (B). Typically, said kiosk is an ATM kiosk (K) adapted to perform routine banking functions such as money withdrawal, money deposition, cheque deposition, money transfer, bank account query or the like. According to this invention, the kiosk (K) is equipped with a Bluetooth enabled monitoring means (BTM), in that, it actively monitors Bluetooth enabled, mobile phones (M) within a pre-defined perimeter. Typically, the pre-defined perimeter could be the precincts of the booth housing the kiosk.

In accordance with another embodiment of this invention, there is provided a Bluetooth device (M), typically a blue-tooth enabled mobile phone for authentication. Typically, a user approaches said kiosk (K-), along with his/her Bluetooth enabled mobile phone (M). The Bluetooth enabled monitoring means (BTM) of the kiosk (K) monitors the presence of a mobile phone (M) within its pre-defined perimeter.

In accordance with an alternative embodiment of this invention, said booth may be equipped with an entry restriction means (ERM) such as a door. Hence, it is essential, that only an authenticated user be allowed entry into the booth and near the kiosk. This entry should also be card-less and in accordance and in line with the system being used according to this invention. The entry restricting means is enabled with at least one of a Bluetooth monitoring means, a mobile phone IMEI number reading means, a mobile number reading means or location based first code, or any combination thereof. According to one embodiment, the entry restriction means is enabled with a keypad, typically an alphanumeric keypad, adapted to request the user to use the keypad

Typically, a mobile phone (handset) IMEI number reading means (HRM) is adapted to read the mobile phone IMEI number from the mobile phone handset. Typically, a mobile phone number reading means (SRM) is adapted to read the mobile phone number of the corresponding handset whose IMEI number and Bluetooth ID have been stored.

In accordance with another embodiment of this invention, there is provided a first database means (DBl) adapted to store mobile phone numbers of all registered users.

In accordance with yet another embodiment of this invention, there is provided a second database means (DB2) adapted to store an identity field based on wireless device detection of each of said registered mobile phone user.

In accordance with yet another embodiment of this invention, there is provided a third database means (DB3) adapted to store an identity field relating to IMEI number of a registered mobile phone handset.

In accordance with another embodiment of this invention, there is provided a mobile phone PIN (MPIN) generation means adapted to generate a mobile phone PIN for use during the initiation process. The use of MPIN adds an additional level of security against identity thefts such as SIM cloning.

In accordance with yet another embodiment of this invention, there is provided an input means at said kiosk (K) adapted to receive the user's device identification as well as a PIN code as provided by the bank (B) for a first level of authentication.

In accordance with still- another embodiment of this invention, there is provided an authentication engine (A) adapted to check the device identification and the PIN code with the database of the bank (B) to verify the user. Further, it checks whether the device identification entered is actively being monitored by the monitoring means (BTM) of the kiosk (K). This ensures that the individual is near the kiosk (K).

In accordance with an additional embodiment of this invention, there is provided a first SMS based code generating means (SGM) adapted to send a random code i.e. an instantaneous pin (IPIN) to the mobile phone (M) which is entered at the kiosk (K), upon receiving successful authentication by the authentication engine (A). Typically, the SMS may be generated by a network provider, upon a prompt by the kiosk (K), and relayed to the mobile phone (M).

Alternatively, the SMS may be generated by the kiosk (K) itself and relayed to the mobile phone (M) by means of Bluetooth or the like pairing or recognising means.

In accordance with yet an additional embodiment of this invention, there is provided a second SMS based code generating means (SGM) adapted to generate a random code based on user request (with or without MPIN). Typically, the system is modified to remember this random code for only a pre-defined time period. Hence making system activated for a predefined period of time. This random code is used for granting access to an ATM kiosk within a booth. Upon generation of this random code, it is sent via SMS to the mobile phone requesting the code, only if the user gets authenticated.. Further, the database at the door of the booth is also updated with a countdown timer for remembering the random code tagged with the device identity for granting access within the timed period, after which the database is updated by deleting the random code, thus denying access to the user after the pre-defined time. The user, shall then, have to request for the code, and hence, access, again.

In accordance with still an additional embodiment of this invention, there is provided a second input means, at the kiosk (K), adapted to receive the SMS code from the user to complete a second level of authentication. Thus, once this authentication is complete, the kiosk (K) is sufficiently authorized to provide access to the user to carry out routine functions related to banking.

In accordance with a preferred embodiment of this invention, there is provided a biometric recognition means, adapted to be enabled either on to the mobile phone (M) or the kiosk (K), or both, for a first level of authentication. Typically, the biometric recognition means may include an iris recognition means or a finger print recognition means, which may be mapped onto a pre-fed database for matching and authorization. Alternatively, the user of the mobile phone may click a picture of himself/herself just before the use of the kiosk, and feed the snap through the pairing mechanism to the kiosk. The kiosk may be equipped with a pre- fed database to map the biometric points or features of the face to match for authorization. In accordance with an additional embodiment of this invention, there is provided an extra level of authentication i.e. a secure layer authentication. Typically, a first generating means generates a random code, which is modified uniquely by mobile tool having system generated keygiven to user during the initiation process. Thus, the system-generated code along with the machine generated code for additional security over hacking of code.

In accordance with still an additional embodiment of this invention, there is provided a blocking mechanism (BLKM) adapted to block access to said booth and said ATM in case of loss or theft of mobile phone or any suspected fraudulent activity. Typically, said blocking mechanism includes an updating means adapted to send update requests for deleting identity related fields of user until successful re-authentication.

In accordance with an additional embodiment of this invention, there is provided a mobile tool adapted to be downloaded on to a mobile phone handset from an authorised server. Said mobile tool is adapted to provide authorised access and to interface in correspondence with said kiosk.

In accordance with another additional embodiment of this invention, there is provided a password setting means for said Bluetooth activation of said mobile phone in order to secure activation of Bluetooth. Thus, only a known user with an authorised password is able to activate the Bluetooth functionality of the mobile phone, thus allowing use of the system.

In accordance with yet another additional embodiment of this invention, there is provided a mobile tool adapted to work in conjunction with said mobile phone. Typically, said mobile tool is resident on said mobile phone and acts as an authenticated interface between said user's mobile phone, and said banking server, kiosk, POS terminal, entry restriction means, or the like embodiments of this system. Typically, the mobile tool is downloaded / loaded from an authenticated source such as from the Internet, bought from a shop or the like. Typically, it has the ability to retrieve device identities from the mobile phone device. It also has the ability to send retrieved identities to an authenticated source in an encrypted / decrypted format. It also may include a system generated key to modify said received code from an authenticated source to provide a modified code, which can provide still an additional layer of security for said system. In accordance with still another additional embodiment of this invention, there is provided a registration means adapted to register said user through said mobile tool, for further and repeated use of the system of this invention.

Figure 2 illustrates a flow diagram of the registration mechanism, in accordance with this invention.

In accordance with still another embodiment of this invention, there is provided a method for card-less banking, said method comprising the following steps of registration:

101) This involves start of the registration mechanism and process.

102) User along with his / her mobile phone, said mobile phone containing an IMEI number burned on to the handset, a mobile phone caller number , and a Bluetooth Id burned on to the handset, approaches a booth housing an ATM kiosk. In this first instance of initiation, said user includes an ATM card issued by the bank along with its corresponding PIN.

103) User checks if the ATM kiosk is housed in a booth or not.

104) If the ATM kiosk is housed in a booth, the user swipes the card and enters the booth and approaches the housed ATM kiosk.

105) If the ATM kiosk is not within a booth, said user directly approaches the ATM kiosk. User swipes ATM card along with ATM PIN.

106) Upon successful authentication, mobile phone number is requested to be input for storage and card-less authentication, at a later time.

107) User brings mobile phone near Bluetooth reader to enable the Bluetooth reader to read the Bluetooth identity number and stores it for card-less authentication, at a later time.

108) The mobile phone IMEI number may also be requested for storage, for card-less authentication, at a later time. ^!

109) Is this combination of identities new?

110) If the combination is not new, then the user and the mobile phone are already registered.

111) If this combination of identities is new, a MPIN generator will generate an MPIN and send said generated MPIN to the mobile phone of said user or by e-mail or by post mail.

112) Upon receipt of MPIN, the user sends an SMS to a pre-defined number for confirmation.

113) System verifies received MPIN against pre-defined identity fields stored with the system for activation of card-less banking procedures.

114) This is the end of the registration mechanism. Figure 3 illustrates a flow diagram of the card-less banking system, in accordance with this invention, when the kiosk is housed outside of a booth.

In accordance with still another embodiment of this invention, there is provided a method forcard-less banking, said banking including interaction between a user carrying a Bluetooth enabled mobile phone and an ATM kiosk, said method comprising the following steps:

201) This involves start of a banking transaction at a kiosk housed outside a booth.

202) User approaches an ATM kiosk.

203) User brings mobile phone handset near a Bluetooth reader to identify its Bluetooth identity number.

204) An SMS with an instantaneous PIN is generated and sent to the mobile phone number which the system has in its pre-stored database which correlates with the read Bluetooth identity number, (user may also request for SMS before approaching kiosk)

205) Check if the IPIN matches with the generated IPIN for the read Bluetooth identity number. User also enters ATM PIN.

206) If the IPIN does not match, then the user services may be restricted after a pre-defined number of attempts.

207) If the IPIN matches, user is granted access to banking transactions from the ATM kiosk.

208) After a pre-defined time interval of one ending the transaction process, the kiosk is ready to accept another user.

Figure 4 illustrates a flow diagram f the card-less banking system, in accordance with this invention, when the kiosk is housed inside a booth.

In accordance with still another embodiment of this invention, there is provided a method for card-less banking, said banking including interaction between a user carrying a Bluetooth enabled mobile phone and an ATM kiosk housed within a booth with an entry restricting means, said method comprising the following steps:

301) This involves start of a banking transaction at a kiosk housed inside a booth.

302) User sends a SMS with a request for access to the system.

303) System issues a random code for accessing a booth with an ATM kiosk, said random code being valid for a pre-defined time period.

304) System updates the database for door entry access of a booth, for a pre-defined time period.

305) User approaches a booth with a door.

306) User brings Bluetooth enabled mobile phone up to Bluetooth reader for door entrance. 307) User may enter random code.

308) Entry mechanism at door checks Bluetooth Identity or random code, or combination of both that is registered in database.

309) If not registered, access is denied.

310) If access is granted, user can approach the ATM kiosk for card-less transaction.

311) End

TECHNICAL ADVANCEMENT:

The technical advancement of the system of this invention resides in the fact the system is adapted for providing:

a secure Bluetooth enabled monitoring means as an added layer of security in an

ATM kiosk;

elimination of cards and introducing Bluetooth enabled mobile phones for a card-less authentication and transaction system.

While considerable emphasis has been placed herein on the particular features of this invention, it will be appreciated that various modifications can be made, and that many changes can be made in the preferred embodiments without departing from the principles of the invention. These and other modifications in the nature of the invention or the preferred embodiments will be apparent to those skilled in the art from the disclosure herein, whereby it is to be distinctly understood that the foregoing descriptive matter is to be interpreted merely as illustrative of the invention and not as a limitation.

Claims

1. A system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprising:

a. ATM card reading means adapted to read encrypted data on said card;

2. A system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprising:

a. ATM card reading means adapted to read encrypted data on said card;

d. mobile number reading means at a kiosk adapted to read mobile number of said user; e. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin; and

f database means adapted to store said read device identities after successful authentication.

3. A system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprising:

a. ATM card reading means adapted to read encrypted data on said card;

4. A system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprising:

a. registration requesting means adapted to request for registration;

b. confirmation delivery means adapted to send registration confirmation;

c. ATM card reading means adapted to read encrypted data on said card;

5. A system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprising:

a. registration requesting means adapted to request for registration;

b. confirmation delivery means adapted to send registration confirmation;

c. ATM card reading means adapted to read encrypted data on said card;

e. identity reading means adapted to read an identity based on device discovery of said mobile phone; f. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin; and

6. A system as claimed in claims 2, 3, 4 and 5, wherein said system includes authentication means adapted to authenticate said user on said mobile number if same is previously stored or available with bank, else it will be registered for using these service.

7. A system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprising:

a. ATM card reading means adapted to read encrypted data on said card;

e. MPIN generating means adapted to generate a MPIN;

f. MPIN delivery means adapted to deliver a generated MPIN;

g. MPIN input means at authenticated source adapted to input said MPIN;

h. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin, said read MPIN; and

8. A system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprising:

a. ATM card reading means adapted to read encrypted data on said card;

d. MPIN generating means adapted to generate a MPIN;

e. MPIN delivery means adapted to deliver a generated MPIN; f. MPIN input means at authenticated source adapted to input said MPIN; g. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin and said read MPIN; and

9. A system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprising:

a. MPIN requesting means adapted to request a MPIN;

b. MPIN generating means adapted to generate a MPIN;

c. MPIN delivery means adapted to deliver a generated MPIN;

d. ATM card reading means adapted to read encrypted data on said card;

h. MPIN input means at authenticated source adapted to input said MPIN;

10. A system for cardless banking, said system including a registration means adapted to register a user using a mobile phone, said registration means comprising:

a. MPIN requesting means adapted to request a MPIN;

b. MPIN generating means adapted to generate a MPIN;

c. MPIN delivery means adapted to deliver a generated MPIN;

d. ATM card reading means adapted to read encrypted data on said card;

g. MPIN input means at authenticated source adapted to input said MPIN; h. authentication means adapted to authenticate said user based on said read ATM Card, said read ATM pin and said read MPIN; and

11. A system as claimed in claims 7, 8, 9 and 10, wherein said system includes authentication means adapted to authenticate said user based on mobile number as one of the parameter if MPIN is delivered to mobile number or received through mobile number.

12. A system as claimed in claims 7, 8, 9 and 10, wherein said system includes authentication means adapted to authenticate said user on said mobile number if same is previously stored or available with bank, else it will be registered for use.

13. A system as claimed in claims 7, 8, 9 and 10, wherein said system includes means to read MPIN as first code, said first code tagged with a counter for validating said tagged first code for a pre-defined period of time in order to make said system activate for a predefined time period as first code.

14. A System for cardless banking, said system including a registration means adapted to register a user using a mobile tool, adapted to be resident on said user's mobile phone, in connection with a remotely located server, said registration means comprising:

c. receiving means adapted to receive user's identity;

d. authentication means adapted to authenticate said user based on user's identity received on authenticated source;

e. mobile tool reading means adapted to read device identifications on said device; f. delivery means adapted to deliver said read device identifications; and

15. A System for cardless banking, said system including a registration means adapted to register a user using a mobile tool, adapted to be resident on said user's mobile phone, in connection with a remotely located server, said registration means comprising:

c. MPIN generating means adapted to generate MPIN;

d. MPIN delivery means adapted to deliver said generated MPIN;

e. receiving means adapted to receive user's identity and MPIN;

h. delivery means adapted to deliver said read device identifications; and

i. system confirmation means adapted to confirm registration of said user.

16. A System for cardless banking, said system including a registration means adapted to register a user using a mobile tool with system generated key, adapted to be resident on said user's mobile phone, in connection with a remotely located server, said registration means comprising:

c. MPIN generating means adapted to generate MPIN;

d. MPIN delivery means adapted to deliver said generated MPIN;

e. modification means adapted to modify said received MPIN with system generated code;

f. receiving means adapted to receive user's identity and modified MPIN;

h. mobile tool reading means adapted to read device identifications on said device; i. delivery means adapted to deliver said read device identifications; and j. system confirmation means adapted to confirm registration of said user.

17. A system as claimed in claims 14, 15 and 16 wherein, said registration means includes database means adapted to store at least one user's identity based on a plurality of user's identities previously accepted by banking system.

18. A system as claimed in claims 14, 15 and lόwherein, said registration means includes device identifications means adapted to select identification of device based on reading parameters selected from a plurality of identification parameters which includes wireless ID or BluetoothID or IMEI or Mobile number of user.

19. A system as claimed in claims 14, 15 and lόwherein, said registration means includes registration means adapted to register received device identifications of said user with banking system for cardless banking upon successful authentication.

20. A system as claimed in claims 14, 15 and lόwherein, said registration means includes re- verification means adapted to re-verify registered device identifications on authenticated source having device identification means and user identity reading means.

21. A system as claimed in claims 14, 15 and lόwherein, said registration means includes identification encryption decryption means adapted to encrypt or decrypt device identification or user identification, using said mobile tool, to provide additional layer of security.

22. A System for cardless banking, said system including a registration means adapted to register a user using a mobile tool with system generated key, adapted to be resident on said user's mobile phone, in connection with a remotely located server, said registration means comprising:

a. mobile tool requesting means adapted to request mobile tool with system generated key, from authenticated source;

b. mobile tool delivery means adapted to deliver said requested mobile tool on user's mobile phone;

c. MPIN generating means adapted to generate MPIN;

d. MPIN delivery means adapted to deliver said generated MPIN; e. modification means, on said mobile tool, adapted to modify said received MPIN with said system generated key;

f. MPIN sending means adapted to send said modified MPIN;

g. receiving means adapted to receive user's identity and modified MPIN;

i. system confirmation means adapted to confirm registration of said user.

23.. A system as claimed in claim 22 wherein, said registration means includes database means adapted to store at least one user's identity based on a plurality of user's identities previously accepted by banking system.

24. A system as claimed in claim 22 wherein, said registration means includes device identifications means adapted to select identification of device based on reading parameters selected from a plurality of identification parameters which includes wireless ID or BluetoothID or IMEI or Mobile number of user. ^!

25. A system as claimed in claim 22 wherein, said registration means includes registration means adapted to register received device identifications of said user with banking system for cardless banking upon successful authentication.

26. A system as claimed in claim 22 wherein, said registration means includes identification encryption decryption means adapted to encrypt or decrypt device identification or user identification, using said mobile tool, to provide additional layer of security.

27. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system comprising:

a. identity reading means adapted to read identities of said user;

b. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user;

c. first code generating means adapted to generate first code;

f. authentication means adapted to authenticate said user based on said received first code, said read ATM PESf, said read identities to actuate a transaction at said kiosk.

28. A system as claimed in claim 27, wherein said system includes receiving means for receiving a first code on a mobile phone having a mobile tool with system generated key delivered during registration.

29. A system as claimed in claim 27, wherein said system includes modification means adapted to modify said first code with said system generated key, on said mobile tool, to obtain a modified code for authentication.

30. A system as claimed in claim 27, wherein said system includes timer means for said first code generation means adapted to activate said generate first code for a pre-defined period of time in order to make said system active for said pre-defined period of time.

31. A system as claimed in claim 27, wherein said system includes identity reading means adapted to read identities of said user selected from means based on device discovery means or mobile number reading means or combination of both.

32. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system comprising:

c. first code delivery means adapted to deliver said generated first code;

d. identity reading means adapted to read identities of said user;

f. first code receiving means on said kiosk adapted to receive said delivered first code from said user; and g. authentication means adapted to authenticate said user based on said received first code, said read ATM PIN, and said read identities to actuate a transaction at said kiosk;

33. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system comprising:

a. first code requesting means adapted to request a first code;

c. first code delivery means adapted to deliver said generated first code;

d. identity reading means adapted to read identities of said user;

34. A cardless system of banking as claimed in claims 32 and 33, using a mobile phone having a mobile tool delivered during registration and device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system includes requesting means for requesting first code through mobile tool upon successful authentication.

35. A cardless system of banking as claimed in claims 32 and 33, using a mobile phone having a mobile tool delivered during registration and device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system includes authentication means for authenticating through mobile tool based on user identity or MPIN or device identifications or combination of any thereof.

36. A cardless system of banking as claimed in claims 32 and 33, using a mobile phone having a mobile tool delivered during registration and device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said mobile tool includes modification means adapted to modify MPIN or first code for use in the authentication process using system generated key on said mobile tool.

37. A cardless system of banking as claimed in claims 32 and 33, using a mobile phone having a mobile tool delivered during registration and device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system includes receiving means for receiving first code on said mobile tool with system generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

38. A cardless system of banking as claimed in claims 32 and 33, said system includes timer means for said first code generation means adapted to activate said generate first code for a pre-defined period of time in order to activate said system for predefined time period in relation to said first code. '

39. A cardless system of banking as claimed in claims 32 and 33, said system includes identity reading means adapted to read identities of said user selected from means based on device discovery means or mobile number reading means or combination of both.

40. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system comprising:

a. identity reading means adapted to read identities of said user;

41. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk for carrying out banking transactions, said system comprising:

a. requesting means, on said mobile phone, adapted to request for system activation; b. generating means adapted to generate said system activation message; c. delivery means adapted to deliver said system generated message to said mobile phone;

d. identity reading means adapted to read identities of said user;

e. ATM PIN receiving means adapted to receive PIN corresponding to said ATM card from said user; and

f. Authentication means adapted to authenticate said user based on said system generated code, said read ATM PIN, said read identities to actuate a transaction at said kiosk.

42. A system as claimed in claims 40 and 41, wherein said system includes identity reading means adapted to read identities of said user being selected from means based on device discovery means or mobile number reading means or combination of both.

43. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk housed in a booth with an entry restricting means for carrying out banking transactions, said system comprising:

e. first code generating means adapted to generate first code ;

f. first code delivery means adapted to deliver first code to said user;

44. A cardless system of banking using a mobile phone as claimed in claim 43, wherein said system includes receiving means for receiving first code on said mobile tool with system generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

45. A cardless system of banking using a mobile phone as claimed in claim 43, wherein said system includes retrieving means and sending means on said mobile tool adapted to retrieve and send device details used for authentication on server.

46. A cardless system of banking using a mobile phone as claimed in claim 43, wherein said system includes timer means for said first code generation means adapted to activate said generated first code for a pre-defined period of time in order to activate said system for predefined time period as first code.

47. A cardless system of banking using a mobile phone as claimed in claim 43, wherein said system includes second reading means adapted to read identities of said user, identity of said device discovery means or first code based on user's location or mobile number or their combination.

48. A cardless system of banking using a mobile phone as claimed in claim 43, wherein said system includes first reading means on said entry restricting means adapted to read an identity of said user, said identity selected from a plurality of identities consisting of identity can be device identification based on device discovery means or mobile number or location based first code generated based on user's location can be used for authentication at entry booth of said user. i

49. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk housed in a booth with an entry restricting means for carrying out banking transactions, said system comprising:

a. first reading means on said entry^" restricting means adapted to read an identity of a mobile phone of said user;

c. first code generating means adapted to generate first code;

. d. first code delivery means adapted to deliver first code to said user; e. second reading means on said kiosk adapted to read said identities of mobile phone of said user;

50. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk housed in a booth with an entry restricting means for carrying out banking transactions, said system comprising:

c. first code delivery means adapted to deliver said generated first code;

51. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk housed in a booth with an entry restricting

■ means for carrying out banking transactions, said system comprising: a. first code requesting means adapted to request a first code;

c. first code delivery means adapted to deliver said generated first code;

52. A cardless system of banking using a mobile phone as claimed in claims 49, 50, and 51, wherein said system includes requesting means for requesting first code through mobile tool upon successful authentication.

53. A cardless system of banking using a mobile phone as claimed in claims 49, 50, and 51, wherein said system includes authentication means adapted to authenticate user identity through mobile tool based on user identity or MPIN or device details or combination of any thereof.

54. A cardless system of banking using a mobile phone as claimed in claims 49, 50, and 51, wherein said system includes modification means adapted to modify MPIN or first code based on system generated key for use in said authentication process.

55. A cardless system of banking using a mobile phone as claimed in claims 49, 50, and 51, wherein said system includes receiving means for receiving first code on said mobile tool with system generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

56. A cardless system of banking using a mobile phone as claimed in claims 49, 50, and 51, wherein said system includes timer means for said first code generation means adapted to activate said generated first code for a pre-defined period of time in order to activate said system for a pre-defined period of time as first code.

57. A cardless system of banking using a mobile phone as claimed in claims 49, 50, and 51, wherein said system includes second reading means adapted to read identities of said user, identity of said device discovery means or first code based on user's location or mobile number or their combination.

58. A cardless system of banking using a mobile phone as claimed in claims 49, 50, and 51, wherein said system includes first reading means on said entry restricting means adapted to read an identity of said user, said identity selected from a plurality of identities consisting of identity can be device identification based on device discovery means or mobile number or location based first code generated based on user's location can be used for authentication at entry booth of said user.

59. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a kiosk housed in a booth with an entry restricting means for carrying out banking transactions, said system comprising:

60. A cardless system of banking using a mobile phone as claimed in claim 59, wherein said system includes second reading means adapted to read identities of said user, identity of said device discovery means or first code based on user's location or mobile number or their combination.

61. A cardless system of banking using a mobile phone as claimed in claim 59, wherein said system includes first reading means on said entry restricting means adapted to read an identity of said user, said identity selected from a plurality of identities consisting of identity can be device identification based on device discovery means or mobile number or location based first code generated based on user's location can be used for authentication at entry booth of said user.

62. A cardless system of banking using a mobile phone as claimed in claim 59, wherein said system includes timer means for said first code generation means adapted to validate said generated first code for pre-defined period of time in order to activate said system for predefined time period in relation to said first code.

63. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a POS for carrying out banking transactions, said system comprising:

a. identity reading means adapted to read identities of said user;

b. first code generating means adapted to generate first code;

64. A cardless system of banking using a mobile phone having a mobile tool delivered during registration as claimed in claim 63 wherein, said system includes receiving means for receiving first code on said mobile tool with system generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

65. A cardless system of banking using a mobile phone having a mobile tool delivered during registration as claimed in claim 63 wherein, said system includes retrieving means on said mobile tool for retrieving device identities and further includes sending means on said mobile tool for sending device identities for authentication on server.

66. A cardless system of banking as claimed in claim 63 wherein, said system includes timer means for first code generation means adapted to activate said generate first code for a predefined period of time in order to activate said system for pre-defined time period in relation to said first code.

67. A cardless system of banking as claimed in claim 63 wherein, said system includes identity reading means adapted to read identities of said user selected from means based on device discovery means or mobile number reading means or combination of both.

68. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a POS for carrying out banking transactions, said system comprising:

c. first code delivery means adapted to deliver said generated first code;

d. identity reading means adapted to read identities of said user;

69. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a POS for carrying out banking transactions, said system comprising:

a. first code requesting means adapted to request a first code;

b. first code generating means adapted to generate said requested first code upon successful authentication of said user; c. first code delivery means adapted to deliver said generated first code; d. identity reading means adapted to read identities of said user;

70. A cardless system of banking as claimed in claims 68 and 69 wherein, said system includes requesting means for requesting first code through mobile tool upon successful authentication.

71. A cardless system of banking as claimed in claims 68 and 69 wherein, said system includes authentication means on said mobile tool adapted to authenticate said user based on user identity or MPIN or device details or combination of any thereof.

72. A cardless system of banking as claimed in claims 68 and 69 wherein, said system includes modification means adapted to modify MPIN or first code for use in the authentication process using system generated key on said mobile tool.

73. A cardless system of banking as claimed in claims 68 and 69 wherein, said system includes receiving means for receiving first code on mobile tool i with system generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

74. A cardless system of banking as claimed in claims 68 and 69 wherein, said system includes timer means for first code generation means adapted to activate said generated first code for a pre-defined period of time in order to activate said system for pre-defined time period in relation to said first code

75. A cardless system of banking as claimed in claims 68 and 69 wherein, said system includes identity reading means adapted to read identities of said user being selected from means based on device discovery means or mobile number reading means or combination of both.

76. A cardless system of banking using a mobile phone having a device discovery means for providing an interaction mechanism with a POS for carrying out banking transactions, said system comprising:

a. identity reading means adapted to read identities of said user.

b. MPIN receiving means adapted to receive MPIN from said user; and

77. A cardless system of banking using a mobile phone having a mobile tool delivered during registration as claimed in claim 76 wherein, said system includes receiving means for receiving first code on mobile tool with system generated key and further includes modification means adapted to modify said received first code with system generated key for using said modified first code for authentication process.

78. A cardless system of banking using a mobile phone having a mobile tool delivered during registration as claimed in claim 76 wherein, said system includes timer means for said first code generation means adapted to activate said generated first code for a pre-defined period of time in order to activate said system for pre-defined period of time in relation to said first code.

79. A cardless system of banking using a mobile phone having a mobile tool delivered during registration as claimed in claim 76 wherein, said system includes identity reading means adapted to read identities of said user being selected from means based on device discovery means or mobile number reading means or combination of both.