Credit Card Fingerprint
Verification System
Grant Approval – Phase 2
A BioCharge Document
July 26, 2016
1
The New Currency
July 26, 2016
Grant Approval Presentation
A BioCharge Document
2
Societal Problem
 Point of sale clerks do not reliably follow the
procedures that retail store merchants have
established in order to verify the identity of credit
card users. This lack of identity verification
provides opportunity for credit card fraud to occur
at the point of sale.
July 26, 2016
Grant Approval Presentation
A BioCharge Document
3
Monetary Importance to Society
The cost is shared by vendors, banks, and individuals
Credit Card Fraud Statistics Provided by Celent
July 26, 2016
Grant Approval Presentation
A BioCharge Document
4
Problem Solution
 Develop a system that reliably verifies the identification
of credit card users by matching a fingerprint image
stored on the card with the fingerprint of the cardholder.
The system would provide the point of sale clerk with an
accept or reject indication for the pending use of the
card.
July 26, 2016
Grant Approval Presentation
A BioCharge Document
5
Why not?
 Gristedes – Manhattan “punch in” with hand
scan
 Statue of Liberty – Rental Lockers open with
fingerprint
 Busch Gardens – Season pass holders verified
using hand scans.
July 26, 2016
Grant Approval Presentation
A BioCharge Document
6
Authorizing a Credit Card Sale
Do They Match
?
July 26, 2016
Grant Approval Presentation
A BioCharge Document
7
Objectives and Expected Goals
 Create a Credit Card System that is:





Secure
Reliable
Fast
Acceptable
Easily Implemented
July 26, 2016
Grant Approval Presentation
A BioCharge Document
8
Secure
Reliable
Easily
Acceptable
Implemented
Fast
 Current Security Flaws:
 Skimming
 Swipe and Clone
 Photography
Sample Skimmer Device
 Cell phone capture
 Use of Lost or Stolen Cards
 Dishonest Employees
 Obtaining CC data for unauthorized usage
July 26, 2016
Grant Approval Presentation
A BioCharge Document
9
Secure
Reliable
Fast
Easily
Acceptable
Implemented
Possible Fraud
Why not Possible
Skimming
Smart Card prevents it. Also Must
Have Matching Fingerprint
Lost or Stolen Card
User Must Have a Matching
Fingerprint
Adjustment of Template
This Would Require Reverse
Engineering of > 600K LOC.
Employee or Others Infiltrates Biometric Templates are Worthless
Our Database
Fake Fingerprints
July 26, 2016
Our Scanner Will Detect Them
Grant Approval Presentation
A BioCharge Document
10
Secure
Reliable
Fast
Easily
Acceptable
Implemented
Fingerprint Comparison Technique
 False Negative – Less than 2%
 False Positive – Nearly 0%
To Guarantee Accuracy Three Different Algorithms Will Be Tested
East Shore Technology - Provider of Fingerprint Algorithms
July 26, 2016
Grant Approval Presentation
A BioCharge Document
11
Credit Card Fingerprint Verification System
Proof of concept demonstration
July 26, 2016
Grant Approval Presentation
A BioCharge Document
12
COMMERICAILIZATION
July 26, 2016
Grant Approval Presentation
A BioCharge Document
13
7 STEP MARKETING PLAN
 Keeps pace with current technologies
 Ensures commercial success
 Provides return on investment
 Allows for growth in a number of markets
July 26, 2016
Grant Approval Presentation
A BioCharge Document
14
STEP 1
 target merchants who offer “in house”
membership card creation to their patrons
 Costco Wholesale
 415 membership warehouse stores serving 42
million cardholders
 Following Costco target Wal-mart, SAM’s Club,
B.J.’s, etc.
July 26, 2016
Grant Approval Presentation
A BioCharge Document
15
STEP 2
 Introduce the CCFVS into the proprietary credit
line market.
 Sears Roebuck & Company
 25 million active credit card accounts, 872
stores, 41 billion dollars in annual revenues and
15.7 billion dollars annual profit
 Sears charge credit card has been acquired by
Citigroup (the parent company of the Citibank
Corporation), which is one of the largest issuers
of Master Cards and Visa Cards in the United
States.
July 26, 2016
Grant Approval Presentation
A BioCharge Document
16
STEP 3
 Market technology to cashierless checkout
locations
 Self Checkout counters
 Pay at the pump
 Markets of the future
July 26, 2016
Grant Approval Presentation
A BioCharge Document
17
Markets of the Future
July 26, 2016
Grant Approval Presentation
A BioCharge Document
18
STEP 4
 Target major credit card offerings such as Visa,
MasterCard, American Express and others
 Rely on reputation, success, and the benefits of
the CCFVS technology to market the product to
all merchants carrying credit lines of all sort
 Will be a challenging endeavour but should
prove to be incredibly lucrative for all involved
parties.
July 26, 2016
Grant Approval Presentation
A BioCharge Document
19
STEP 5
 Market wireless credit card markets
 Targets door-to-door salesmen and street vendors
 Power Swipe by Creditel Corp (to the left)
 DM2 unit by Aircharge (to the right)
July 26, 2016
Grant Approval Presentation
A BioCharge Document
20
STEP 6
 Business venture to include the internet
 Fingerprint scanners popular amongst home
computers and electronics
July 26, 2016
Grant Approval Presentation
A BioCharge Document
21
STEP 7
 Target foreign markets
 $500,000 worth of credit card fraud incurred in
the UK daily by skimming alone.
 Foreign industries which have credit card fraud
that far exceeds the US
July 26, 2016
Grant Approval Presentation
A BioCharge Document
22
Continuation
 Proved technically feasible for Phase 1
 Proved functionally feasible with the proof of
concept prototype for Phase 2
 Proved commercially feasible with the outline of
the 7 Step Marketing initiative
July 26, 2016
Grant Approval Presentation
A BioCharge Document
23