ICAP Patent Brokerage is putting the word out that they have some patents available that cover “a biometrics-based credit card fraud prevention system, for use at the point-of-sale”. The patents will be available for bidding until December 4th.
It isn’t clear exactly what the system entails, but from ICAP’s description it sounds pretty comprehensive. In a press release, the company notes that the system can potentially employ a range of biometric measures “including (but not limited to) digital photographic/signature comparison, physical features such as face, fingerprint, iris, retina, or hand geometry, or behavioral features such as signature, voice, gait, or any other proven form.” This kind of information is transmitted at the point of sale to a server, where it’s validated against matching information on file.
However it works, it’s certainly timely. As more and more commercial retail transactions move into the mobile world via digital payment systems like Apple Pay, and as biometric security like Apple’s fingerprint-scanning Touch ID system helps to secure those transactions, more consumer are going to expect biometric security measures at the point of sale. That’s why major credit card companies like MasterCard are developing cards that use embedded biometric sensors. It all points to a future where advanced biometric security is a standard in the field of retail, and presumably patents like those being offered by ICAP will pay off in such an outcome.
November 11, 2014 – by Alex Perala