Interactive Financial Card System Uniquely Suited for Conducting Financial Transactions on the Internet

This invention is engineered to prevent the hundreds of billions of dollars globally stolen each year by ID fraud from American consumers and taxpayers. This vast theft is enabled by industry's and government's imposed use of archaic identification cards for financial transactions. These include standard bank cards, credit cards, debit cards, atm cards, chip cards, social security cards (including for Tax Rebates) and health insurance cards (including Medicare and Medicaid).

The invention replaces theft-enabling ID cards with the new disposable, no-value card and its unique protocol which cannot serve needs of criminals. Utility of the no-value card requires its possession, access to the individual computer(s) integrated with card readers linked to the Internet, with security factors known, encoded and embeded solely by the legitimate card owner. This new financial card system replaces the historic, vulnerable 'centralized security' methodology with the the unique impenetrable 'decentralized security' methodology (i.e., only the legitimate card owner must and has ability to authorize a given financial transaction).

US 7,991,695 issued 2011-08-02   [MORE INFO]

Type of Offer: Sale or Licensing

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