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Abstract

The present invention relates to the field of identity verification. Specifically, the invention is directed to a device and method for facilitating signature-less financial transactions as an improvement over common, prior art check-based financial transactions. This system and method provides the ability to use a check as a form of payment at a point of use without having to use the signed check as the binding document that is processed through the financial system to obtain payment by the entity rendering the service. The system and method comprises reading a hardcopy check via an electronic scanner, correlating the account number to a biometric or other piece of data that would positively identify the person tendering the check and using the biometric or other data to confirm the identity of the person tendering the check. This data is then associated with an auditable record of the person who performed the biometric or other data comparison. Once a particular financial transaction is authorized, the check is returned to the tenderer and the financial transaction is processed as an electronic fund transfer (EFT).

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First Claim