List of patents
System and method For Performing Cardless Financial Transactions
- Mrs. Swarna Kumari Adari
- Mrs. Swarna Kumari Adari
- IN201741033411
- India
- yes
- 20/09/2017
- listing
- Problems with prior art are: >It is cumbersome to carry ATM cards and keeping ATM cards safe and remembering passwords cause inconvenience in use and raise transaction security issues. >The conventional mechanisms that require the bank card are inconvenient in that they require a user to carry the bank card in order to be able access funds via an ATM. >Less convenient. Advantages of the present invention: >Performs cardless financial transaction at the ATM. >Performs a cardless transaction using biometrics of a user. >Performs a cardless transaction at the ATM using any or combination of biometrics and/or unique identification code associated with the user. >Performs financial transaction at the ATM without using any credit or debit card.
Abstract
Disclosed is a cardless financial transactions system having a unique identification code receive module that receives, a unique identification code (UIC) from a user attempting to undertake said cardless transaction, an account details retrieval module that retrieves details of one or more bank accounts of said user that are mapped to said UIC, and presents, on display of said ATM, a part of said retrieved details of said bank accounts, a retrieved bank account details based PIN receive module that receives, from said user, selection of at least one of said one or more bank accounts, along with PIN corresponding to said at least one of said one or more bank accounts and PIN authentication based cardless transaction processing module that enables to process said cardless transaction based on authentication of said received PIN with respect to said at least one of said one or more bank accounts.
