Importance

Loading Importance Indicators...

Abstract

The present invention relates to integrated financial network systems and more particularly pertains to a biometrics automatic method of automatically contributing monies by means of actual cash or electronic cash equivalents into an investment, savings, purchasing, payment, charity, loan, mortgage, insurance premium, or loyalty program upon making a purchase using biometrics for identification of the purchaser, identification of contribution preferences, and authentication. The invention includes a computer implemented method of processing a financial transaction executed by first person including identifying the person via biometric identification and verification methods, using biometric identification and financial transaction information to access user payment accounts, preferences for contribution, determining an automatic savings amount from the financial transaction by applying a contribution calculation, and contributing the calculated amount to an investment, savings, purchasing, payment, charity, loan, mortgage, insurance premium, or loyalty account. transactions, applying a pre-specified fixed dollar amount for each occurrence of a completed transaction, applying a pre-specified fixed dollar amount and total number of occurrences of a plurality of completed transactions, applying a percentage of a purchase amount of an individual pending transaction in the hands of a payment clearinghouse or payment instrument issuer, applying a pre-specified fixed dollar amount for each individual occurrence of a pending transaction in the hands of a payment clearinghouse or payment instrument issuer, applying a specified dollar amount for the transaction event, rounding up transactions to a higher amount increment, or rounding up plurality of completed transactions.The purchase amount and contribution amount would be normally processed as individual transactions but can be combined.The system further includes debiting the calculated savings amount from an account of the first person and crediting the savings amount to an account of a second person.

Loading the Abstract Image...

First Claim