METHOD AND SYSTEM FOR IDENTITY AND KNOW YOUR CUSTOMER VERIFICATION THROUGH CREDIT CARD TRANSACTIONS IN COMBINATION WITH INTERNET BASED SOCIAL DATA

摘要

A method and system for verifying an identity of a card holder associated with a payment card using a payment device comprising a card reader and a mobile device. The method comprising the steps of initiating verification of identity of the card holder by inserting the payment card in the card reader of the payment device, reading card information from the payment card communicating the card information from the mobile device to a payment server, comparing received card information with stored card information in the payment server and accessing at least one web service. The account activity is analysed in the at least one web service and in that way verifying that the identity of the card holder is the same as the identity associated with the payment card, based on the analysis of information from the at least one web service and from the comparison of card information with stored card information. Terminating the verification process by communicating the result of the verification process from the payment server to the payment device.