Portable Electronic Financial Management

• US 20090204539A1
• Filed: 02/13/2008
• Published: 08/13/2009
• Est. Priority Date: 02/13/2008
• Status: Abandoned Application

• Current Assignee: Andre Parker
• Original Assignee: Andre Parker
• Inventors: Parker, Andre
• Application Number:
  US12/030,245
• Publication Number:
  US 20090204539A1
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/227 characterised in that multiple accounts are available, e.g. to the payer
• CPC Class Codes: G06Q 20/346 Cards serving only as information carrier of service
• CPC Class Codes: G06Q 20/3572 Multiple accounts on card
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists
• CPC Class Codes: G06Q 20/4033 Local solvency checks
• CPC Class Codes: G06Q 20/405 Establishing or using transaction specific rules
• CPC Class Codes: G07F 7/08 by coded identity card or credit card or other personal identification means without personal verification means G07F7/02
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

An electronic wallet stores information regarding credit, membership and other accounts. The information may be accessed to facilitate monetary and other transactions utilizing the various stored accounts. The transactions are stored such that accurate account balances are maintained by the electronic wallet. Security measures prevent unauthorized users from accessing account information. The electronic wallet allows a user to program preset spending limits on the accounts stored in it. The electronic wallet includes a protective carrying case having a money clip and card holding slots.

Claims

1. A portable, electrical device for regulating financial transactions comprising:

a power supply;

a data processor;

a data storage medium;

credit account data stored on the data storage medium comprising balances for one or more credit accounts stored on the storage medium;

one or more input components;

one or more output components;

one or more transaction processing programs stored on the data storage medium, executable by the data processor and able to perform a transaction analysis comprising;

i) allowing a user to request a financial transaction to be applied to a selected credit account of the one or more credit accounts, the financial transaction comprising transaction properties including an amount and the selected credit account;

ii) providing credit account data for the financial transaction through at least one of the one or more output components;

iii) recording the transaction properties; and

,

iv) recalculating the available balance by subtracting the amount of the transaction from the initial balance of the selected credit account;

v) adjusting the account data for subsequent transactions;

vi) repeating steps i) through v) when requested by the user;

and,

a security program stored on the storage medium and executable by the data processor for regulating access to the one or more transaction processing programs and the storage medium by requiring at least a password to be entered prior to executing the transaction processing program or entering and retrieving data stored in the data storage medium.

2. The portable, electrical device of claim 1 wherein the one or more transaction processing programs is further able to perform creating an account history for each of the one or more credit accounts comprising the initial balance, the available balances calculated during each financial transaction and the financial transactions.

3. The portable, electrical device of claim 1 further comprising a notification program executable by the data processor and providing the one or more alerts when alert criteria are met.

4. The portable, electrical device of claim 1 further comprising a financial analysis program executable by the data processor and able to perform functions including grouping and summing the financial transactions according to at least one of the transaction properties, wherein the transaction properties comprise the date of the transaction, the selected credit account, and the amount of the transaction.

5. The portable, electrical device of claim 1 further comprising an organizing program executable by the data processor and comprising a clock, a calendar and a scheduler.

6. The portable, electrical device of claim 1 further comprising a case.

7. The portable, electrical device of claim 1 wherein the device is has a width less than one and half inches, a height less than six inches and a length less than six inches.

8. The portable, electrical device of claim 1 wherein the one or more output devices are selected from the group consisting of a video screen, a touch screen, an audio output, an electromagnetic transmitter, and a USB port, and wherein the one or more input devices are selected from the group consisting of a magnetic strip reading slot, a video screen, a touch screen, an electromagnetic receiver, a USB port, and a keypad.

9. A portable, electrical device for regulating financial transactions comprising:

a power supply;

a data processor;

a data storage medium;

credit account data for one or more credit accounts stored on the storage medium comprising authorizing criteria and an available balance for each of the one or more credit accounts;

one or more input components;

one or more output components;

at least one transaction processing program executable by the data processor and performing a transaction analysis comprising;

vii) allowing a user to request a transaction to be applied to a selected credit account of the one or more credit accounts, the transaction comprising transaction properties including an amount and the selected credit account;

viii) comparing authorizing criteria for the selected credit account to the transaction properties of the transaction;

ix) approving a financial transaction if the transaction properties meet the authorizing criteria;

x) providing credit account data for the selected credit account if the transaction is approved;

xi) recording the transaction properties;

xii) recalculating the available balance by subtracting the transaction amount from the available balance; and

,

xiii) adjusting the authorizing criteria for subsequent transactions;

xiv) repeating steps i) through vi) when requested by the user;

and,

a security program stored on the storage medium and executable by the data processor for regulating access to the at least one transaction processing program and the storage medium by requiring one or more identifiers be entered by means of the one or more input components prior to executing the transaction processing program or entering and retrieving data stored in the data storage medium.

10. The portable, electrical device of claim 9 further comprising a second security program requiring at least a password and allowing a user access only to the transaction processing program.

11. The portable, electrical device of claim 9 wherein the functions performed by the at least one transaction processing program further includes creating an account history for each of the one or more credit accounts comprising the initial balance financial transactions recorded in the storage media.

12. The portable, electrical device of claim 9 further comprising a notification program executable by the data processor and providing the one or more alerts when alert criteria are met.

13. The portable, electrical device of claim 9 further comprising a financial analysis program executable by the data processor and performing functions including grouping and summing the financial transactions recorded by the at least one transaction processing program according to at least one of the transaction properties, wherein the transaction properties comprise the date of the transaction, the credit account to which it is applied, and the amount of the transaction.

14. The portable, electrical device of claim 9 further comprising an organizing program executable by the data processor and comprising a clock, a calendar and a scheduler.

15. The portable, electrical device of claim 9 wherein the device is has a width less than one and half inches, a height less than six inches and a length less than six inches.

16. The portable, electrical device of claim 9 wherein the one or more output devices are selected from the group consisting of a video screen, a touch screen, an audio output, an electromagnetic transmitter, and a USB port, and wherein the one or more input devices are selected from the group consisting of a magnetic strip reading slot, a video screen, a touch screen, an electromagnetic receiver, a USB port, and a keypad.

17. The portable, electrical device of claim 9 wherein the authorizing criteria is one or more of the criteria selected from the group consisting of a maximum allowable expenditures amount, a list of allowable vendors, a list of allowable dates, a list of allowable credit accounts and a list of allowable purchase items.

18. The portable, electrical device of claim 9 wherein the transaction data comprises the date, time, point of purchase, amount, selected credit account and purchase item.

19. A portable, electrical device for regulating financial transactions comprising:

a power supply;

a data processor;

a data storage medium;

credit account data for one or more credit accounts stored on the storage medium comprising authorizing criteria and an initial balance for each of the at least one of credit account stored on the storage medium, wherein the authorizing criteria comprises a maximum allowable expenditures;

input components comprising a magnetic strip reading slot, a USB port, and a keypad;

output components comprising a video screen, an electromagnetic transmitter, and a USB port;

at least one transaction processing program executable by the data processor and performing a transaction analysis comprising;

i) allowing a user to request a financial transaction to be applied to a selected credit account of the one or more credit accounts, the financial transaction comprising transaction properties including an amount and the selected credit account;

ii) comparing authorizing criteria for the selected credit account to the transaction properties of the financial transaction including calculating whether the financial transaction in addition to other recent transactions exceeds the maximum allowable expenditures;

iii) approving a financial transaction if the transaction properties meet the authorizing criteria;

iv) providing credit account data for the selected credit account if the financial transaction is approved;

v) recording the financial transaction properties in the storage media; and

,

vi) adjusting the authorizing criteria for analyzing subsequent transactions;

vii) repeating steps i) through vi) when requested by the user;

a notification program executable by the data processor and providing the one or more alerts when alert criteria are met, wherein the alert comprises a textual message and the alert criteria is selected from the group consisting of an available balance of a credit account and an amount of time before a date; and

,

a security program stored on the storage medium and executable by the data processor for regulating access to the at least one transaction processing program and the storage medium by requiring one or more identifiers be entered by means of the one or more input components prior to executing the transaction processing program or entering and retrieving data stored in the data storage medium including adjusting the maximum allowable expenditures, the one or more credit accounts and credit account data;

a second security program requiring at least a password and allowing a user access only to the transaction processing program.

20. The portable, electrical device of claim 19 wherein the authorizing criteria comprises maximum allowable expenditures and one or more of the criteria selected from the group consisting of a list of allowable vendors, a list of allowable dates, a list of allowable credit accounts and a list of allowable purchase items.

22. The method of claim 20 wherein the transaction data comprises one or more of the group consisting of a time, a date, a selected credit account, an amount, a vendor, and a list of purchase items.

23. The method of claim 20 wherein a first security code is required to alter or enter the authorizing criteria and credit account data and a second security code does not allow alteration of the authorizing criteria or the credit account data but does allow the evaluating of a the providing of credit account data when the transaction is approved.

21. A method for monitoring financial transactions comprising:

storing in a portable, electronic device credit account data including data necessary for conducting a transaction through at least one credit account;

storing in a portable, electronic device authorizing criteria for evaluating transaction data;

entering into the portable, electronic device transaction data for a transaction;

evaluating by using programming executable by a data processor in the portable, electronic device whether the transaction data meets the authorizing criteria;

approving the transaction if the transaction data meets the authorizing criteria;

providing credit account data for the transaction if the transaction is approved;

recording the transaction data for the transactions if it is approved; and

,

adjusting the authorizing criteria for analyzing subsequent transactions.

24. An electronic device comprising:

a data storage device;

a data processor;

credit account information stored on the data storage device;

security software executable by the data processor and authorizing release of the credit account information only upon a user providing correct security information to the data processor;

an electromagnetic signal transmitter capable of transmitting the credit account information through an electromagnetic signal to an electromagnetic receiver.