WO2012150525A1

WO2012150525A1 - A method and a system for securing anonymous electronic financial transactions using biometrics and other secure means

Info

Publication number: WO2012150525A1
Application number: PCT/IB2012/052049
Authority: WO
Inventors: Yona Flink
Original assignee: Yona Flink
Priority date: 2011-05-05
Filing date: 2012-04-24
Publication date: 2012-11-08

Abstract

A method for securing electronic financial transactions using biometric and other security means is presented herein. The method includes the following steps: enrolling a person who wishes to be biometrically authenticated. When the conducting party wishes to conduct an electronic financial transaction, he may complete the electronic financial transaction. As a result, a request form upon the conducting party selection of authentication type will be sent by a secure means of communication to an authentication party. After receiving identification details from the conducting party upon the conducting party approval of the electronic financial transaction, identifying the conducting party by the authentication party, and transferring details of the electronic financial transaction to the financial institution, notifying the conducting party as to the details of the electronic financial transaction that the conducting party performed. The electronic financial transaction may be one of: (i) merchant information; and (ii) recipient of the funds.

Description

A METHOD AND A SYSTEM FOR SECURING ANONYMOUS

ELECTRONIC FINANCIAL TRANSACTIONS USING BIOMETRICS AND

OTHER SECURE MEANS

BACKGROUND

1. TECHNICAL FIELD

[0001] The present invention relates generally to a biometric certification system and a method of authenticating and certifying that an authorized party that is conducting at least one of: (i) secure electronic financial transactions via the Internet; (ii) Person to Person financial transactions; (iii) transactions at a physical Point of Sale, is the party authorized to conduct the financial transaction. More particularly, the party that conducts the electronic financial transaction does not have to provide the receiving party any financial or personal information. The authentication and certification is performed by using biometric technology means.

2. DISCUSSION OF RELATED ART

[0002] The necessity for securing electronic financial transactions as well as reducing fraud, data and identity theft has brought various solutions to the market. In different places biometric technology is used as an additional layer of authentication and certification. Most of the solutions require additional hardware and applications on which the secured details are being stored, thus prone to theft. Further, these solutions indentify the physical device being used, a user name, and password but they do not verify the authenticity of the person that is conducting a transaction as the authorized person by a financial institution to conduct the transaction. In addition, most of the solutions require a person to provide full personal and financial details to a provider of the solution, thus exposing the person to fraud and identity theft.

BRIEF SUMMARY

[0003] Embodiments of the present invention provide methods and systems for securing electronic financial transactions by using biometric means, in a non limiting example, voice recognition. Further, carrying out electronic financial transactions in which a conducting party is not required to provide credit card or personal information to any third party, other than with the financial institutions with which the conducting party has an account and has previously provided information in return for receiving services from the financial institution.

[0004] Advantageously, the conducting party does not provide a merchant, via website, or via Point Of Sale (POS), with any details such as: (i) credit card number; (ii) bank account number; (iii) financial information; (iv) personal information of the conducting party; and (v) any details that would allow an unauthorized third party to possess information in order to conduct a financial or identity fraud.

[0005] Further, present invention provides a system and method to allow Peer-to-Peer (P2P) payments in a secure manner in which identity of the conducting party is trusted and the financial information of the conducting party remains secure. Further, the present invention provides a system and method for conducting financial transactions without the need for the following: (i) a credit cards; (ii) debit cards; (iii) charge cards, to be presented at a brick and mortar POS.

[0006] Embodiments of present invention are implemented by eliminating a need for an application to be installed on an electronic communication device of the conducting party, thus eliminating data theft and fraud and providing a higher level of security than presently available. The high level of security is provided due to the elimination of the following requirements for an electronic communications device in order for the invention to operate: (i) storage of financial data; (ii) storage of passwords; (iii) storage of personal identifiers; (iv) the need to install an application; and (vi) no need for additional hardware to be installed or attached to the electronic communications device. The present invention may be referred to as 2BSecure.

[0007] These, additional, and/or other aspects and/or advantages of the present invention are set forth in the detailed description which follows; possibly inferable from the detailed description; and/or learnable by practice of the present invention.

BRIEF DESCRIPTION OF THE DRAWINGS

[0008] The present invention will be more readily understood from the detailed description of embodiments thereof made in conjunction with the accompanying drawings of which:

Figure 1A is a diagram according to some embodiments of the invention, illustrating a purchase of goods via a website; Figure IB is a diagram according to some embodiments of the invention, illustrating a registration form presented to a conducting party;

Figure 1C is a diagram according to some embodiments of the invention, illustrating a sign in form;

Figure ID is a diagram according to some embodiments of the invention, illustrating identification and payment details on a window at 2BSecure website;

Figure 2A is diagram according to some embodiments of the invention, illustrating transfer of funds from an authorized conducting party via a website and electronic communication device to a receiving party using an electronic communication device; Figure 2B is a diagram according to some embodiments of the invention, illustrating a window at 2BSecure website for transfer of funds;

Figure 2C is a diagram according to some embodiments of the invention, illustrating a Person to Person transfer of funds;

Figure 2D is a diagram according to some embodiments of the invention, illustrating a form for sending funds by one person from an authorized business location to another person at another authorized business location;

Figure 2E is a diagram according to some embodiments of the invention, illustrating a request for information form sent by an agent to a 2BSecure server; and

Figure 3 is a diagram according to some embodiments of the invention, illustrating Point of Sale payment process.

DETAILED DESCRIPTION

[0009] Before explaining at least one embodiment of the invention in detail, it is to be understood that the invention is not limited in its application to the details of construction and the arrangement of the components set forth in the following description or illustrated in the drawings. The invention is applicable to other embodiments or of being practiced or carried out in various ways. Also, it is to be understood that the phraseology and terminology employed herein is for the purpose of description and should not be regarded as limiting. The present invention may be referred to as 2BSecure.

[0010] For a better understanding of the invention, the usages of the following terms in the present disclosure are defined in a non-limiting manner:

[0011] The term "biometrics" as used herein in this application, is defined as the science and technology of measuring and analyzing biological data. In information technology, biometrics refers to technologies that measure and analyze human body characteristics and patterns, such as DNA, fingerprints, eye retinas and irises, voice patterns, facial patterns and hand geometry, for authentication purposes.

[0012] The term "conducting party" as used herein in this application, is defined as the individual that performs an electronic financial transaction.

[0013] The term "receiving party" as used herein in this application, is defined as the entity that receives an electronic financial transaction.

[0014] The term "Credit Card Company (CCC)" as used herein in this application, is defined as the issuer of small plastic cards that are issued to a conducting party as a method and system of payment that allows the conducting party of a credit card to buy goods and services based on the financial status of the conducting party to pay for these goods and services.

[0015] The term "Financial Institution (FI)" as used herein in this application, is defined as any institution that is legally allowed to carry out financial transaction between two parties. For example: (i) CCC; (ii) Commercial Banks; (iii) Credit Unions; (iv) Stock Brokerage Firms; (v) Insurance Companies; (vi) Finance Companies; (vii) Financial Service Companies; (viii) Postal Services; (ix) Savings and Loan Associations; (x) mobile phone service providers; and (xi) private or public businesses and the like.

[0016] The term "third party processor" as used herein in this application, is defined as the financial processor that handles the processing of the credit card transaction between:

(i) a merchant; (ii) a CCC; and (iii) a financial account of the merchant.

[0017] The term "biometric verification system" as used herein in this application, is defined as a system by which a person may be uniquely identified by evaluating one or more distinguishing biological traits or unique identifiers such as: (i) fingerprints; (ii) hand geometry; (iii) ear geometry; (iv) retina and iris patterns; (v) voice waves; (vi) DNA; and (vii) signature and the like.

[0018] The term "Near Field Communication (NFC)" as used herein in this application, is defined as a set of short-range wireless technologies, typically requiring a distance of 4 cm or less.

[0019] The term "electronic communication device" as used herein in this application, is defined as a telecommunications device that provides for at least one of: (i) landline;

(ii) Internet connection; (iii) cellular connection; (iv) SMS; (v) email; (vi) has wireless capabilities means, in a non limiting example, NFC. [0020] The term "electronic receiving device" as used herein in this application is defined as a device that can capture and record data sent by wireless means in Barcode format, NFC, or any other means of sending date via a wireless communications method.

[0021] The term "Peer to Peer (P2P) payment" as used herein in this application, is defined as, a method for paying or transferring funds from an FI account of a conducting party to an FI account of a receiving party.

[0022] The term "2BSecure account" as used herein in this application, is defined as a person who has enrolled in 2BSecure and is authorized to perform financial transactions using 2BSecure.

[0023] The term "agency headquarters" as used herein in this application, is defined as a business with physical premises in multiple locations authorized by 2BSecure to conduct and coordinate 2BSecure financial transactions between its business premises defined herein as agencies.

[0024] The term "agency" as used herein in this application, is defined as a business with physical premises authorized by an agency headquarters to receive and transfer funds from one agency via the agency headquarters to another agency.

[0025] The term "agent" as used herein in this application, is defined as an authorized person employed at the agency and authorized by the agency headquarters to conduct 2BSecure financial transactions.

[0026] The term "brick and mortar" as used herein in this application, is defined as business with a physical presence and location verses virtual website stores that exist in the internet.

[0027] The term "face to face" as used herein in this application, is defined as a financial transaction carried out by a conducting party who is physically present at the site where the financial transaction is being conducted.

[0028] The term "authentication" as used herein in this application is defined as the process of verifying a claimed identity of a person.

[0029] The term "2BSecure code identifier" is used herein in this application is defined as a unique, randomly generated number (code identifier) given to an enrolled party upon a successful completion of enrollment and stored in memory on an electronic communication device in at least one of the following formats: (i) barcode format, and (ii) digital format. [0030] Embodiments of the present invention provide methods and systems for securing electronic financial transactions using biometrics means, in a non limiting example, voice recognition.

[0031] According to some embodiments of the invention a biometric certification is provided to identify and ensure that a conducting party is authorized to perform secure and anonymous electronic financial transactions via: (i) a communication channel such as internet or wireless communication; (ii) a physical Point of Sale (POS); and (iii) a communication device connected to at least one of: (1) the Internet; and (2) a wireless electronic communication device.

[0032] Further, an authorized conducting party may use one or more financial services for payment without the need to provide the receiving party of financial remunerations information with one or more of the following: (i) personal account information; (ii) credit and debit card information; and (iii) personal information of the conducting party.

[0033] According to some embodiments of the invention, a conducting party has to enroll in order to be allowed to perform a secured electronic financial transaction. Two options exist for the enrolment procedure: (i) on the internet via both the FI website and the 2BSecure website; and (ii) at the physical premises of a Financial Institution (FI) where the party wishing to enroll into the system provides proof of identity and uses the FI's internet facilities to enroll biometrically at the 2BSecure website.

[0034] According to some embodiments of the invention, advantageously, 2BSecure enrollment procedure provides a higher level of enrollment security than presently available for a conducting party since the enrollee has to provide proof of identity that she or he is not an imposter to the FI and receive from the FI of the conducting party a unique one-time password that may uniquely identify the enrollee to 2BSecure as the person claimed. Further, once a conducting party has enrolled into 2BSecure, the conducting party may use their 2BSecure ID with: (i) any other FI; (ii) credit and debit card; and (iii) payment service using 2BSecure for making and or receiving payment.

[0035] According to some embodiments of the invention an online registration may be performed via the following steps: (i) a person may log on to a FI website where the person has an account; (ii) the person goes to "2BSecure User Registration" page on said website; (iii) the person clicks on the 2BSecure "Sign In" icon and a registration form appears with details to fill in; (iv) upon successful completion of the registration form, in a non limiting example as shown in Figure IB, the FI sends to 2BSecure server the following information using a secure means of communication: (i) the FI identification number (ii) the person's 2BSecure ID; and (iii) a one-time password to be used by the person for login to the 2BSecure website enrollment page which is standard security practice for one time login to a secure websites.

[0036] According to some embodiments of the invention the person goes to 2BSecure website enrollment page, in a non limiting example, as shown in Figure 1C and proceeds as follows: (i) enters their 2BSecure ID and the one-time password; and (ii) clicks on "Sign in".

[0037] Upon successful login to the 2BSecure biometric enrollment page the person may select a form of communication by which 2BSecure may communicate with the electronic communication device of the person in order to confirm the identity of the person being enrolled and perform the biometric enrollment. In a non limiting example, a mobile phone number selected by the person presently enrolling is called by 2BSecure in order to biometrically enroll the person on the electronic communication device of the person.

[0038] Upon successful biometric enrollment, 2BSecure notifies the FI that successful enrollment has been successfully completed for the person. From now on the person may be referred to as the conducting party. The FI may send a notification to the conducting party that the biometric enrollment has been completed successful and the conducting party may use 2BSecure services from now on.

[0039] According to another embodiment of the invention a person may enroll at the physical premises of the FI and with assistance of an authorized member of the FI to assist a person in order to carry out the same process as in case of an online registration.

[0040] Figure 1A is a diagram according to some embodiments of the invention, illustrating purchase of goods via a website. A conducting party 120 may login on to a website that has been approved by 2BSecure to use the 2BSecure system and a merchant website 110 is provided with a 2BSecure seal that will allow the conducting party to conduct purchases from the merchant website 110. Upon completion of a shopping cart list, the conducting party 120 may click on a 2BSecure icon appearing along side a list of credit cards and other FI forms of payment. After the conducting party 120 clicks on the 2BSecure icon, a 2BSecure web page appears along with the following data that was transferred from the merchant website using a secure means of communication to the 2BSecure website where the 2BSecure purchase order information form, in a non limiting example, shown in Figure ID. In the purchase order information the following details may be shown: (i) date; (ii) name of merchant and merchant 2BSecure identification number; (iii) total purchase order amount, and (iv) purchase order number.

[0041] A window as illustrated in Figure ID may appear on a computer screen of the conducting party 120.

[0042] Figure ID illustrates the identification and payment details to be filled out by the conducting party 120 on a 2BSecure website 130A in Figure 1A, according to some embodiments of the invention. The conducting party 120 may type in a 2BSecure ID 238 in Figure ID, for example, "williambl234". Then, the conducting party 120 may select a FI that the conducting party 120 would like to use for the financial transaction to the merchant, by clicking on the appropriate icon, in a non limiting example 132A-132D in Figure ID.

[0043] Then, the conducting party 120 may select a communications option, in a non limiting example 134A-134C in Figure ID to be used by 2BSecure in order to contact the conducting party 120 on the electronic communication device of the conducting party, in order to confirm the financial transaction and biometrically authenticate the identity of the conducting party 120.

[0044] Simultaneously with process 114 in Figure 1A, 2BSecure server 130B may send, using secure means of communication 122A, the following information to FI server 150 in order to receive confirmation from FI server 150 that FI server 150 will make funds available for payment by the conducting party 120 to the merchant website 110.

[0045] The following information is sent 122, using secure means of communication, by 2BSecure: (i) 2BSecure identification of the conducting party 120; and (ii) the amount of funds requested by the conducting party 120 for payment on the merchant website 110. FI server 150 may reply, using secure means of communication 122B to 2BSecure server 130B with confirmation or denial of payment by the conducting party 120 to the merchant website 110.

[0046] Simultaneous to process 122A 2BSecure server may contact the conducting party via the electronic communication device that was indicated by the conducting party 120 and performs the following operations: (i) the merchant's name , the merchant's order number, and purchase price are verbally stated to the conducting party 120 and the conducting party 120 is requested to confirm that the information is correct and that the conducting party 120 indicates that they wish or do not wish to proceed with the purchase order; (ii) if the conducting party 120 negates the purchase order then the purchase order is made void; (iii) if the conducting party 120 confirms purchase order and wishes to proceed with the purchase, 2BSecure may verbally request the conducting party to repeat by means of the electronic communication device the password that was previously enrolled, in a non limiting example, where speech authentication is being used of the conducting party 120.

[0047] In another non limiting example, in case fingerprint authentication is used the finger or fingers of the conducting party 120 may be placed on a fingerprint sensor of the electronic communication device for authentication. In another non limiting example, a digital camera located on the electronic communication device may be used to capture a face of the conducting party 120 or iris for biometric authentification of the conducting party 120.

[0048] In case the conducting party 120 fails to be authenticated biometrically, the conducting party 120 may receive a verbal message, for example, "We were unable to confirm your identity biometrically, if you wish to continue with the purchase please press "9" and you will receive assistance."

[0049] Upon authorization of purchase order by the conducting party 120 and the biometrical authentication of conducting party 120, 2BSecure server 130B may send 122A, using a secure means of communication, the following information to FI server 150: (i) 2BSecure identifier of the conducting party 120; (ii) confirmation of the identity of the conducting party 120 as claimed (iii) sum of payment; and (iv) the merchant ID number and in case the merchant website 110 is using services of a third party processor, the ID number of a third party processor may be included.

[0050] According to some embodiments of the invention, upon receipt of the above information at FI server 150 from 2BSecure server 130B, FI server 150 may or may not authorize the financial transaction by the conducting party 120. In case FI server 150 authorize the financial transaction FI server 150 may send a notification to the electronic communication device of the conducting party 120 at least one of the following means: (i) SMS; and (ii) an email. The notification may carry the following information: (i) authorization of payment by FI to merchant; (ii) transaction amount; and (iii) merchant name and invoice number.

[0051] In case the FI server 150 does not authorize the financial transaction, FI 150 does not notify the conducting party 120. Instead, 2BSecure website 130A may communicate with the conducting party 120 by means of electronic communication device that the FI server 150 did not authorize the financial transaction to merchant website 110. The conducting party 120 may select two options: (i) to void the purchase at the merchant website 110, or (ii) select another FI to transact payment.

[0052] According to yet another embodiment of the invention, upon confirmation from the FI server 150 that payment may be authorized, and 2BSecure server may send to the merchant website 110 or to the third party processor the following confirmation information using secure means of communication 115: (i) authorization of transaction; (ii) the merchant's 2BSecure identification number; (iii) identification number of a third party processor if applicable; (iv) amount of funds to be transferred by FI; (v) merchant purchase order number, and (vi) amount of purchase.

[0053] Upon receipt of confirmation information by merchant or third party processor, the merchant website 110 may proceed as it would with a non-2Bsecure order.

[0054] Upon shipment of goods 115, the merchant website 110 may send 116, using a secure means of communication, to 2BSecure server 130B the following information:

(i) purchase order number, and (ii) confirmation of shipment. 2BSecure server upon receipt of shipment confirmation from the merchant website 110, may send to the electronic communications device of the conducting party 120 at least one of the following: (1) SMS; and (2) an email.

[0055] Figure 2A is a diagram according to some embodiments of the invention, illustrating P2P transfer of funds via 224 2BSecure website 240A, in case a conducting party 210 would like to transfer funds from a FI account of the conducting party 210 to a FI account of a receiving party 220.

[0056] According to some embodiments of the invention, the conducting party 210 may login to the 2BSecure server 250 where the conducting party 210 has been authorized to conduct 2BSecure transaction using an ID and password. The conducting party 210 may select in a non limiting example, "2BSecure for FI Transfer" as illustrated in Figure 2B.

[0057] If the receiving party has an account with 2BSecure, then the conducting party 210 may provide the following information: (i) 2BSecure ID of the conducting party 210;

(ii) code number from where funds are to be transferred of the conducting party's FI 240;

(iii) 2BSecure ID of the receiving party 220; (iv) FI code number 230 where funds are to be received of the receiving party 220; and (v) an amount of transfer.

[0058] If the receiving party 220 does not have a 2BSecure account, then the conducting party 210 may provide the following information: (i) 2BSecure ID of the conducting party; (ii) code number from where funds are to be transferred of the conducting party FI 240; (iii) first and last name of the receiving party 220; (iv) full FI information 230 of the receiving party: (1) FI name; (2) branch; and (3) account number where funds are to be received; (v) amount of transfer, and (vi) electronic means of communications device of the receiving party 220, in a non limiting example: a mobile phone number.

[0059] Upon completion of the "2BSecure for FI Transfer" form, in a non limiting example, illustrated in Figure 2B, the conducting party may click a 'Submit' button, which saves and stores the 2BSecure for FI Transfer information Figure 2B on a 2BSecure server 250.

[0060] Then, 2BSecure server 250 may send the following information via secure means of communication 232A to the FI of the conducting party 240: (i) 2BSecure ID of the conducting party 210; and (ii) the amount of funds requested by the conducting party.

[0061] Conducting party's FI 240 may reply to 2BSecure server 250, using secure means of communication 232B, with either a confirmation or denial of the transfer of funds by the conducting party 210.

[0062] In case the conducting party's FI 240 denies the transfer of funds, 2BSecure server 250 may notify the conducting party 210 via 2BSecure webpage 250A that the conducting party's FI 240 has denied transfer of funds. The conducting party may select a different FI or discontinue the transaction.

[0063] In case the conducting party's FI 240 confirms that funds are available, 2BSecure server may contact the conducting party 210 via a communication channel 228 that was previously specified by the conducting party 210. 2BSecure server 250 may communicate with the conducting party 210 via electronic communication device with the following message in a non limiting example: "You have made a request to transfer funds from your account "XYZ" to John Doe's Bank of IBBI for the amount of 123.00 dollars". In case the information is correct, the conducting party 210 is requested by 2BSecure server 250 to confirm or deny the information by stating, in a non limiting example: "If you wish to authorize the transfer of funds please press (delete) #1 for YES or #2 for NO".

[0064] In case the conducting party 210 confirms the transfer of funds, in a non limiting example, in the case where speech authentication is being used, 2BSecure server 250 may request the conducting party 210 to repeat into a microphone of the electronic communication device, a password of the conducting party 210.

[0065] In another non limiting example, in case of fingerprint authentification the finger or fingers of the enrolled conducting party are placed on the fingerprint sensor to be authenticated. [0066] In another non limiting example a digital camera of the electronic communication device may be used to capture a face or iris of the conducting party for authentication in order to be biometrically authenticated.

[0067] In case the conducting party fails to be authenticated biometrically, the conducting 210 party may receives, in another non limiting example, "We were unable to confirm your identity biometrically, if you wish to continue with the transfer of funds please press "9" and you will receive further assistance."

[0068] According to some embodiments of the invention, after receiving additional assistance and the identity of the conducting party cannot be confirmed, the transaction is cancelled. In case the identity of the conducting party 210 is confirmed after additional assistance, then 2BSecure server 250 may proceed as in a case where the conducting party 210 was biometrically authenticated.

[0069] Upon authorization for transfer of funds by conducting party's FI 240 and verification of the conducting party 210 by 2BSecure server 250, 2BSecure server 250 may send, using a secure means of communication 232A, to the conducting party's FI 240, the following information: (i) 2BSecure identifier of the conducting party 210 (ii) amount of transfer; and (iii) full name of the receiving party 220 or in case the receiving party's FI 230 has a 2BSecure ID, only 2BSecure ID of the receiving party 220, and (iv) in case the receiving party 220 does not have a 2BSecure ID at the FI, the receiving party's full FI information: FI name, branch, and account number 230.

[0070] According to some embodiments of the invention, upon receipt of the following information by conducting party's FI 240: (i) the 2BSecure identifier of the conducting party 210 (ii) amount of transfer; and (iii) full name of the receiving party 220 or in case the receiving party 230 has a 2BSecure ID, 2BSecure ID of the receiving party 220, and (iv) receiving party's FI full information 230. Conducting party's FI 240 may send notification via a communication channel 234B to the electronic communications device of the conducting party 220 with at least one of: (i) SMS; and (ii) an email. The notification may carry the following information: (i) authorization of transaction of the conducting party; (ii) amount of the transaction; (iii) receiving party's FI 230 of the receiving party 220; and (iv) 2BSecure identifier or full name of the receiving party 220.

[0071] Further, upon authentication of the conducting party 210 by 2BSecure server 250 and the authorization by the conducting party 210 for transfer of funds to receiving party's FI 230, conducting party's FI 240 may transfer the funds to the receiving party's FI 230 using secure means of communication 234, the following information in case the receiving party 220 does not have a 2BSecure ID: (i) account details of the receiving party's FI 230; (ii) full name; and (iii) amount of transfer.

[0072] In case the receiving party 220 does have a 2BSecure ID, FI server 250 may send, using a secure means of communication 234, the following information to the receiving party's FI 230: (i) 2BSecure ID of the receiving party 220, and (ii) amount of transfer.

[0073] Upon receipt of funds, FI 230 may communicate with the receiving party 220 via their electronic communications device with at least one of: (i) SMS; and (ii) an email informing the receiving party 220 that funds have been received for a certain amount of money. In another non-limiting example, the receiving party 220 may go to the FI website 230A, to confirm transfer of payment.

[0074] Figure 2C is a diagram, according to some embodiments of the invention, which is a "Transfer of Funds" from a conducting party 310 to a receiving party 320 via a non-FI account.

[0075] According to another embodiment of the invention, a conducting party 310 having a 2BSesure account may go to an authorized 2BSecure agencyl and transfer funds to a receiving party 320 that may or may not have a 2BSecure ID number at another agency where the receiving party 320 may receive the funds in the following manner.

[0076] The conducting party 310 may go to agencyl 360 and may request to transfer funds to a receiving party 320 who may receive the funds at any agency affiliated with an agency headquarters 340. The agent of agencyl 360 may log on to the agency's 2BSecure website 350A using secure means of communication and a window will appear as illustrated, in a non limiting example, in Figure 2D. Each time an agent conducts a 2BSecure transaction of funds; a unique transaction number is created and attached to the 2BSecure transfer of funds form.

[0077] According to some embodiments of the invention, the conducting party 310 may pay to the agent, in a non limiting example, in at least one of: (i) cash; (ii) check; (iii) credit or debit card, or use the aforementioned POS method of payment. The amount of funds paid is the amount that the conducting party 310 would like to transfer to the receiving party 320 and the conducting party 310 receives a receipt for the amount to be transferred.

[0078] Upon receipt of funds, the agent fills in all required information as shown in Figure. 2D the following information: (i) 2BSecure ID of the conducting party 310; (ii) 2BSecure ID number of the receiving party 320, and (iii) the amount of funds to be transferred. If the receiving party 320 does not have a 2BSecure ID, the conducting party 310 is required to provide the agent with the following receiving party 320 information: (i) first and last name; (ii) an identification document's serial number to be used by the receiving party 320 for identification at the agency where the receiving party 320 wishes to receive funds, such as: (i) a national ID card number; (ii) driver's license number; (iii) passport number; and (iv) any other recognized legal form of identification. After completion of the above information in Figure 2D, the agent may send 2BSecure fund transfer Figure 2D using a secure means of communication 350B to 2BSecure server 350.

[0079] 2BSecure server may contact the conducting party 310 as follows: (i) calling the conducting party 310 on their electronic communications device, at the requested communication channel 350C, a verbalized computer message may follow if the receiving party 320 has a 2BSecure identification. In a non limiting example, "You have made a request to transfer $55.00 to 2BSecure ID WBS1234. If you wish to authorize transfer of funds to said party press " 1 ", if you wish to cancel the transfer of funds press "2", if there is an error, press "9" and an agent will assist you shortly".

[0080] In case the receiving party 320 does not have a 2BSecure identification, then a recorded voice message may state, in a non limiting example, "You have made a request to transfer $55.00 to John Doe, Driver's License number "ABC123456". If you wish to authorize transfer of funds to said party press " 1 ", if you wish to cancel the transfer of funds press "2", if there is an error, press "9" and a 2BSecure member will assist shortly".

[0081] In case the conducting party 310 presses " 1 ", 2BSecure may ask the conducting party 310 to repeat the password of the conducting party 310. In case the conducting party 310 is biometrically authenticated, the transaction may proceed.

[0082] Alternatively, if the conducting party 310 failed to be biometrically authenticated, the conducting party 310 may receive a verbal message, in a non limiting example, "we were unable to confirm your identity biometrically, if you wish to continue with the transfer of funds please press "9" and you will receive assistance."

[0083] According to some embodiments of the invention, upon biometric authentication of the conducting party 310, 2BSecure server 350 performs the following: (i) 2BSecure server 350 holds all received information recorded by agencyl in the 2BSecure fund transfer form Figure 2D, and (ii) sends to the agency headquarters using secure means of communication 350D the following information: (i) number of 2BSecure fund transfer transaction Figure 2D; (ii) the amount of funds to be paid to the receiving party 320; (iii) in case the receiving party 320 does not have a 2BSecure ID, then the full name of the receiving party 320 and the ID document of the receiving party 320 for identification. In case the receiving party 320 has a 2BSecure ID, 2BSecure server does not send to agency headquarters 2BSecure ID of the receiving party 310.

[0084] The conducting party 310 may send the 2BSecure Fund Transfer Transaction number to the receiving party 320 using any method of communication. The receiving party 320 is required to provide at an agency the 2BSecure Fund Transfer Transaction number in order to proceed with the receipt of funds at an agency 370.

[0085] All the 2BSecure information of fund transfer transaction received by the agency headquarters 340 from 2BSecure server 350 is held at the agency headquarters until a request is made by a receiving party 320 at an agency to receive the funds transferred to the receiving party 320 by the conducting party 310.

[0086] The receiving party 320 may go to agency2 370 and provide the agent with the 2BSecure fund transfer transaction number. The agent on the computer of agency2 370 may connect using a secure means of communication 370A to the 2BSecure agency2 website 350A and, in a non limiting example, goes to the 2BSecure transaction number form illustrated in Figure 2E residing on the 2BSecure agency2 website 350A. The agency2 370 may perform the following steps: (i) fills in the receiving party's 320 transaction number; and (ii) clicks on SEND button as illustrated in Figure 2E.

[0087] By clicking on SEND button in Figure 2E the transaction number along with the agency2 370 ID Code number is sent using secure means of communication 350B to 2BSecure server 350. Then, 2BSecure server 350 using secure means of communication 350D, may send the transaction number along with the receiving agency2 370 ID Code number to the agency2 headquarters 340.

[0088] Then, the agency headquarters 340 may send the following information using secure means of communication 340B to agency2 370 in the instance that the receiving party 320 does not have a 2BSecure ID: (i) full name of the receiving party 320; (ii) amount of funds to be transferred to the receiving party 320; (iii) type of identifying document and identifying document number.

[0089] In case the receiving party 320 has a 2BSecure ID account, the agency headquarters 340 may send the following information using secure means of communication 340B to agency2 370 including the following: (i) 2BSecure ID of receiving party 320; and (ii) the amount of funds to be transferred to the receiving party 320. [0090] Simultaneous to process 340B 2BSecure server 350 may contact 350E the receiving party 320 via electronic communication device the receiving party 320 in order to biometrically verify the identity of the receiving party 320.

[0091] Then, in a non limiting example, 2BSecure server 350 may ask the receiving party 320 to repeat the password of the receiving party 320. If the receiving party 320 fails to be biometrically authenticated, the conducting party may receive a verbal message in a non limiting example, "we were unable to confirm your identity biometrically, if you wish to continue with the transfer of funds please press "9" and you will receive assistance."

[0092] If the receiving party 320 is successfully verified by 2BSecure server as the authorized receiving party 320, 2BSecure server 350, may notify the agent2 on the 2BSecure agency website 350A appearing on the computer screen of agency2 370, that the receiving party 320 has been authenticated to receive the allocated funds.

[0093] In case the receiving party 320 has not been authenticated, 2BSecure server 350, may notify the agent at the agency2 370 on the computer screen of agency 370, that the receiving party 320 has not been authenticated and funds will not be allocated to the receiving party 320. If the receiving party 320 does not have a 2BSecure ID, the receiving party 320 may provide the agent at agency2 370 with proof of identification as listed on the 2BSecure fund transfer Figure 2D.

[0094] Upon proof of identity of the receiving party 320 either by 2BSecure server 350 using biometric verification or the agent at the agency 370 using an identification document, the receiving party may receive the amount of funds transferred to the receiving party 320 by the conducting party 310.

[0095] Figure 3 is a diagram according to some embodiments of the invention, illustrating Point of Sale (POS) checkout process. In case the conducting party 420 may wish to make a payment using: (i) credit card or debit card; (ii) bank check for purchases at a "brick and mortar"; and (iii) "face to face" POS without the need of providing a the credit card or debit card itself, or bank check itself, or any personal information in order to make the payment using the 2BSecure code identifier of the conducting party 420.

[0096] The 2BSecure code identifier may be stored using at least one of the following: (i) 2BSecure number in barcode format may be stored in memory on the electronic communication device of the conducting party 420, and (ii) an NFC chip, which resides on the electronic communication device of the conducting party that stores the 2BSecure code identifier of the conducting party 420. [0097] According to some embodiments of the invention, a conducting party 420 may go to a POS 410 located at physical premises or on mobile device and conduct a 2BSecure payment transaction in the following manner: (i) the conducting party 420 may allow 2BSecure barcode identification of the conducing party 420 to be recorded 451 and transmitted to a POS device for capturing and recording the 2BSecure code identifier using an appropriate electronic recording device at POS 410; (ii) the conducting party 420 may allow 2BSecure number of the conducting party to be transmitted to NFC receiver recording the 2BSecure code identifier at POS 410.

[0098] Upon receipt of 2BSecure code identifier of the conducting party 420 at a POS 410 by electronic receiving device, the following data is recorded by a POS computer or mobile computing device and sent 452 to 2BSecure server 430 using secure means of communication: (i) 2BSecure code identifier; and (ii) POS ID Code number.

[0099] Simultaneously with process 452, a merchant of the POS may continue with the purchase process as if conducting a normal cash or credit card transaction

[00100] Upon receipt of the data sent by the POS 410 by 2BSecure server 430, it may contact 453 the conducting party 420 on the conducting party's 420 electronic communications device and a computerized message may state, in a non limiting example: "Please confirm that you wish to purchase at merchant XYZ. If YES, please press #1, if you do not wish to purchase at merchant XYZ press #2, if there is some kind of error please press #9 and an agent will assist you.

[00101] In case the conducting party 420 presses #2 and the conducting party 420 does not wish to continue with the purchase, the cashier at the POS 410 may be notified on the computer screen at the POS 410 that the purchase order has been cancelled. In case the conducting party 420 presses #1, 2BSecure may ask the conducting party to repeat their 2BSecure password.

[00102] In case the conducting party is biometrically authenticated, the conducting party 420 may be requested to select means of payment, in a non limiting example by a computerized voice message that names each of the conducting party's 420 FI listed with 2BSecure followed by a number. The conducting party 420 is requested to press the appropriate number key on the electronic communications device for the FI that the conducting party 420 wishes to use as payment at the POS 410.

[00103] The following data at 2BSecure server 430 may be stored in memory: (i) 2BSecure ID; (ii) the FI that the conducting party has requested to use for payment at a POS; and (iii) the POS ID Code # of the merchant 410. [00104] According to some embodiments of the invention, upon completion of the purchase order the merchant at the POS 410 presses "Subtotal" button. Upon pressing subtotal button, the POS computer may send, using secure means of communication 452, to 2BSecure server 430 the following data: (i) the 2BSecure code identifier of the conducting party 420; (ii) purchase order subtotal; (iii) POS merchant identification number.

[00105] According to some embodiments of the invention, upon receipt of above data packet 2BSecure server 430 may send to FI server 440, using a secure means of communication 454, the following data: (i) the 2BSecure ID of the conducting party 420; (ii) the purchase amount; (iii) POS ID code number; and (iv) authorization from FI 440 that payment will be made for requested amount by the conducting party 420.

[00106] According to some embodiments of the invention, upon receipt of the aforementioned information packet at the FI server 440 from the 2BSecure server 430B, if the FI server 440 authorizes the financial transaction of the conducting party 420, the FI server 440 may send notification 456 to the electronic communication device of the conducting party 420 by means of at least one of the following: (i) SMS; and (ii) an email. The notification may carry the following information: (i) authorization of payment by FI to merchant; (ii) transaction amount; and (iii) merchant name and invoice number.

[00107] Simultaneously with process 456, in case the FI server 440 denies the transaction, the FI server 440 sends to 2BSecure server 430, using secure means of communication, a notification of "denial of payment".

[00108] In case the FI server 440 denies transfer of funds, 2BSecure server 430 may notify via a communication link for example, wireless 453 the conducting party 420 on the electronic communications device, that the FI server 440 that was selected by the conducting party 420 has denied transfer of funds.

[00109] Then, the conducting party 420 may select another FI or cancel the transaction. In case the conducting party 420 cancels the purchase transaction with the POS merchant, 2BSecure may send, using secure means of communication 452, to the POS merchant notification that the purchase order has been made "void". In case the conducting party 420 selects a different FI for payment, 2BSecure follows the same procedure as stated previously for the conducting party's 420 newly selected FI.

[00110] In case FI server 440, using a secure means of communication 455, sends to 2BSecure server 430 authorization for the transaction by the conducting party 420, 2BSecure server 420 may send, using a secure means of communication 452 to the POS merchant 410 the following information: (i) purchase order number; (ii) amount of purchase; (iii) FI name; and (iv) additional FI data as may be required by merchant.

[00111] According to some other embodiments of the invention, upon receipt of confirmation the merchant proceeds as it would with a non-2Bsecure purchase.

[00112] Simultaneously with process by 2BSecure server 430 of communicating 452 with the POS merchant 410 confirming payment, the FI server 440 may send 457 to the POS merchant 410 full details of FI payment for purchase order of conducting party's 420.

[00113] In the above description, an embodiment is an example or implementation of the invention. The various appearances of "one embodiment", "an embodiment" or "some embodiments" do not necessarily all refer to the same embodiments.

[00114] Although various features of the invention may be described in the context of a single embodiment, the features may also be provided separately or in any suitable combination. Conversely, although the invention may be described herein in the context of separate embodiments for clarity, the invention may also be implemented in a single embodiment.

[00115] Furthermore, it is to be understood that the invention can be carried out or practiced in various ways and that the invention can be implemented in embodiments other than the ones outlined in the description above.

[00116] The invention is not limited to those diagrams or to the corresponding descriptions. For example, flow need not move through each illustrated box or state, or in exactly the same order as illustrated and described.

[00117] Meanings of technical and scientific terms used herein are to be commonly understood as by one of ordinary skill in the art to which the invention belongs, unless otherwise defined.

Claims

CLAIMS What is claimed is:

1. A method of conducting a financial transaction, comprising:

enrolling a conducting party with an authenticating party, wherein enrolment comprises receiving from the conducing party biometric identifying information of the conducting party and receiving from the conducting party personal and communication information through which the conducting party can be identified and contacted;

receiving, at the authenticating party, information relating to purchase from a merchant party,

communicating, based on the enrolment, with the conducting party to authenticate that the conducting party is a party that performed the purchase, and authorizes payment to a merchant party

transferring, based on the authentication, from the authenticating party and authorization for payment to a merchant by a conducting party, a request for funds to be made to a merchant for performing the purchase;

the conducting party receiving confirmation from the payment party for denial or payment of the purchase and;

wherein the at least one of the enrolling, receiving, communicating, and/or transferring, is performed by at least one or more computer processors.

2. The method according to claim 1, wherein identifying information comprises biometric information.

3. The method according to claim 2, wherein the biometric information comprises at least one of a voice sample of the conducting party and/or alternative biometric sample of the conducting party.

4. The method according to claim 1, wherein the enrolment comprises filling out an electronic form by the conducting party at a website or at the payment party site provided by the authenticating party.

5. The method according to claim 1, wherein the communication information comprises at least one of one or more mobile phone numbers of the conducting party, and/or landline phone number of the conducting party.

6. The method according to claim 1, wherein all communication between the merchant party and the payment party is conducted through the authenticating party.

7. A system for conducting a financial transaction; comprising:

one or more servers adapted to operate in a communication network, wherein the one or more servers are adapted to communicated with one or more servers of an authenticating party to enroll a conducting party with an authenticating party, wherein enrolment comprises receiving from the conducing party biometric identifying information of the conducting party and receiving from the conducting party personal and communication information through which the conducting party can be identified and contacted;

wherein the one or more servers are adapted to receiving, at the authenticating party, information relating to purchase from a merchant party, communicate, based on the enrolment, with the conducting party to authenticate that the conducting party is a party that performed the purchase, and transferring, based on the authentication, from the authenticating party to a payment party, a request for funds to be made to a merchant for performing the purchase.

receiving confirmation from the payment party for denial or payment of the purchase

8. The system according to claim 7, wherein identifying information comprises an enrollee ID biometric information provided by the enrollment party.

9. The system according to claim 8, wherein the biometric information comprises at least one of a voice sample of the conducting party and/or alternative biometrics samples of the conducting party.

10. The system according to claim7, wherein the enrolment comprises filling out an electronic form by the conducting party at a website or at the enrolling party site provided by the authenticating party.

11. The system according to claim 7, wherein the communication information comprises at least one of one or more mobile phone numbers of the conducting party, and/or a landline phone number of the conducting party.

12. The system according to claim 7, wherein all communication between the merchant party and the payment party is conducted through the authenticating party.

13. A machine tangible, non-transitory, readable medium adapted to store computer code that can be executed by one or more processors, comprising

code configured to enroll a conducting party with an authenticating party, wherein enrolment comprises receiving from the conducing party biometric identifying information of the conducting party and receiving from the conducting party personal and communication information through which the conducting party can be identified and contacted;

code configure to receive, at the authenticating party, information relating to purchase from a merchant party;

code configured to communicate, based on the enrolment, with the conducting party to authenticate that the conducting party is a party that performed the purchase,;

code configured to transfer, based on the authentication, from the authenticating party to a payment party, a request for funds to be made to a merchant for performing the purchase; and

code configured to receive confirmation from the payment party for denial or payment of the purchase.

14. The machine tangible medium of claim 13, wherein identifying information comprises biometric information.

15. The machine tangible medium of claim 14, wherein the biometric information comprises at least one of a voice sample of the conducting party and/or alternative biometrics of the conducting party.

16. The machine tangible medium of claim 13, wherein the enrolment comprises filling out an electronic form by the conducting party at a website or at the payment party site provided by the authenticating party.

17. The machine tangible medium of claim 13, wherein the communication information comprises at least one of one or more mobile phone numbers of the conducting party, and/or a landline phone number of the conducting party.

18. The machine tangible medium of claim 13, wherein all communication between the merchant party and the payment party is conducted through the authenticating party.