Biometric authenticated financial transfers
A biometric authentication system for payment transfers ensures accurate payee identification and secure account-to-account transactions, addressing imposter fraud by verifying biometric data and initiating transfers without sharing account information.
WO2025245072A1 Publication Date: 2025-11-27MASTERCARD INT INC
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Patent Information
- Application Number
- PCT/US2025/030134
- Authority / Receiving Office
- WO · WO
- Patent Type
- Applications
- Current Assignee / Owner
- Priority Date
- 2025-05-19
- Filing Date
- 2025-05-20
- Publication Date
- 2025-11-27
AI Technical Summary
Technical Problem
Conventional payment systems face challenges in identifying and preventing imposter fraud, particularly in account-to-account transfers, where it is difficult for payors to recover funds after fraudulent transactions are completed.
Method used
A biometric authentication system where a payor captures a payee's biometric characteristic, which is then matched against a database, and upon verification, an authorization message is sent to a transaction processor to initiate a secure, account-to-account transfer without sharing account information.
Benefits of technology
Enhances fraud prevention by ensuring accurate identification of payees, allowing secure and efficient financial transfers without exposing account details, thus reducing the risk of imposter fraud.
✦ Generated by Eureka AI based on patent content.
Abstract
A payment system is provided for transferring a financial amount between two parties. The first party captures a biometric characteristic like a facial image of the second party. The first party then sends the captured biometric characteristic to a transaction processor. The transaction processor then compares the biometric characteristic with a stored copy of the biometric characteristic which is also associated with the second party. The first party then receives an authentication message indicating that the biometric characteristic matches the stored copy of the biometric characteristic. In response to the authentication message, the first party then authorizes a transfer of a financial amount from the first party to the second party.
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