Wearable article having point of sale payment functionality

• US 8,500,031 B2
• Filed: 07/29/2010
• Issued: 08/06/2013
• Est. Priority Date: 07/29/2010
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Naelon, Ashley T.
• Primary Examiner(s): MARSHALL, CHRISTLE I
• Application Number:
  US12/846,573
• Publication Number:
  US 20120024947A1
• Time in Patent Office: 1,104 Days
• Field of Search: 705/64, 705/65, 235379-3825
• US Class Current: 235/492
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/321 using wearable devices
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A wearable article is configured for providing payment information to a point of sale terminal during a transaction. The wearable article, in some embodiments, includes a band configured for wrapping around a body part of the customer and for carrying an electronic device. In some embodiments, the band has an attachment system for removably securing the band to the body part of the customer. The electronic device includes an energy storage element, a memory device, a communication device and a processing device. The processing device is configured for receiving a communication from the point of sale terminal requesting payment information for completion of the transaction. The processing device reads account information from the memory device and communicates payment information to the point of sale terminal. In some embodiments, the wearable article receives power from a field generated by the point of sale terminal.

Claims

1. A wearable article configured for providing payment information to a point of sale terminal, the wearable article comprising:

an electronic device carried by the wearable article wearable by a customer, the electronic device comprising;

an energy storage element configured to power the electronic device;

a memory device configured for storing account information corresponding to two or more accounts owned by the customer;

a communication device configured for;

receiving a signal from the point of sale terminal requesting payment information;

receiving a financial indicator from a remote device, the financial indicator based at least in part on a financial health state associated with the customer, the financial health state based at least in part on a comparison between a current balance of one or more accounts associated with the customer and a pre-established threshold stored as part of a pre-established financial indicator profile, the financial indicator being communicated by the remote device in accordance with a pre-established financial indicator profile;

a user output device operatively coupled to the communication device and configured to communicate user output to the customer based at least partially on the financial indicator received by the communication device; and

a processing device coupled with the energy storage element, the memory device, and the communication device, the processing device configured for receiving a communication from the communication device corresponding to a request for payment information from the point of sale terminal, receiving customer input selecting one of the two or more accounts owned by the customer, presenting to the customer an indicator indicating the account selected by the customer, reading at least a portion of the account information, the portion corresponding with the selected account, from the memory device, and instructing the communication device to communicate the portion of the account information read from the memory device to the point of sale terminal in response to the request.

2. The wearable article of claim 1 further comprising:

a band configured for wrapping around a body part of a customer and for carrying the electronic device, the band having a first end and a second end, the band comprising;

an attachment system configured for removably securing the band to the body part of the customer.

3. The wearable article of claim 2, wherein the band is configured for wrapping around a wrist of the customer and wherein the attachment system is configured for removably securing the band to the wrist of the customer.

4. The wearable article of claim 2, wherein the band is configured for wrapping around an ankle of the customer and wherein the attachment system is configured for removably securing the band to the ankle of the customer.

5. The wearable article of claim 1, wherein the wearable article comprises a ring configured for wearing on a finger of the customer.

6. The wearable article of claim 1, wherein the communication device is further configured for receiving a field generated by the point of sale terminal, deriving a power signal from the field, and storing power from the derived power signal at the energy storage element.

7. The wearable article of claim 1, further comprising a second communication device configured for receiving a field generated by the point of sale terminal, deriving a power signal from the field, and storing power from the derived power signal at the energy storage element.

8. The wearable article of claim 1 further comprising a pocket configured to receive and house the electronic device.

9. The wearable article of claim 8, wherein the pocket is configured to house the electronic device thereby protecting the electronic device from water.

10. The wearable article of claim 9, wherein the pocket is configured to house the electronic device by way of a water-tight enclosure.

11. The wearable article of claim 8, wherein the pocket is made of waterproof material.

12. The wearable article of claim 8, wherein the pocket is made of water resistant material.

13. The wearable article of claim 2, wherein the attachment mechanism comprises the band, wherein the band is configured to stretch around the body part of the customer and retract against the body part of the customer, thereby removably securing the wearable article to the body part of the customer.

14. The wearable article of claim 2, wherein the band is made of waterproof material.

15. The wearable article of claim 2, wherein the band is made of water resistant material.

16. The wearable article of claim 1, wherein the communication device is further configured for receiving a communication from the point of sale terminal indicating successful completion of the transaction.

17. The wearable article of claim 16, wherein the processing device is further configured for indicating to the customer successful completion of the transaction.

18. The wearable article of claim 1 further comprising an indicator device configured for providing an indication to the customer regarding the transaction.

19. The wearable article of claim 18, wherein the processing device is further configured for indicating to the customer successful completion of the transaction by instructing the indicator device to provide indication to the customer of the successful transaction.

20. The wearable article of claim 18, wherein the indicator device comprises a display configured for displaying an indication to the customer regarding the transaction.

21. A method for providing payment information to a point of sale terminal, the method comprising:

powering, by an energy storage element of an electronic device, the electronic device carried by a wearable article wearable by a customer;

receiving, by a communication device of the electronic device and from a remote device, a financial indicator based at least in part on a financial health state associated with the customer, the financial health state based at least in part on a comparison between a current balance of one or more accounts associated with the customer and a pre-established threshold stored as part of a pre-established financial indicator profile, the financial indicator being communicated by the remote device in accordance with a pre-established financial indicator profile;

communicating, by a user output device of the electronic device, user output to the customer based at least partially on the financial indicator received by the communication device;

receiving, at a processing device of the electronic device, a signal from the point of sale terminal requesting payment information;

receiving customer input selecting one of two or more accounts owned by the customer;

presenting to the customer an indicator indicating the account selected by the customer,

reading, using the processing device, at least a portion of account information stored at a memory device of the electronic device, the portion corresponding with the selected account; and

instructing, by the processing device of the electronic device, a communication device of the electronic device to communicate the portion of account information corresponding with the selected account to the point of sale terminal in response to the request.

22. The method of claim 21 further comprising:

receiving, at a communication device of the electronic device, a confirmation communication communicated from the point of sale terminal, the confirmation communication configured to communicate successful completion of the transaction.

23. The method of claim 22 further comprising:

instructing a display of the wearable article, by the processing device, to display an indication to the customer, the indication based at least in part on the received confirmation communication sent from the point of sale terminal and configured to communicate successful completion of the transaction.

24. The method of claim 21 further comprising:

receiving a field at a communication device of the electronic device, the field generated by the point of sale terminal;

deriving a power signal from the field; and

storing power from the derived power signal at the energy storage element of the electronic device.

25. The method of claim 21 further comprising:

receiving, at a communication device of the electronic device, a signal from the point of sale terminal requesting payment information; and

communicating the signal requesting payment information from the communication device to the processing device.

26. The method of claim 25 further comprising:

receiving a field at a second communication device of the electronic device, the field generated by the point of sale terminal;

deriving a power signal from the field; and

storing power from the derived power signal at the energy storage element of the electronic device.

27. A computer program product for providing payment information to a point of sale terminal, the computer program product comprising a non-transient computer readable memory comprising computer-executable instructions, the instructions comprising:

instructions for powering, by an energy storage element of an electronic device, the electronic device carried by a wearable article wearable by a customer;

instructions for receiving, by a communication device of the electronic device and from a remote device, a financial indicator based at least in part on a financial health state associated with the customer, the financial health state based at least in part on a comparison between a current balance of one or more accounts associated with the customer and a pre-established threshold stored as part of a pre-established financial indicator profile, the financial indicator being communicated by the remote device in accordance with a pre-established financial indicator profile;

instructions for communicating, by a user output device of the electronic device, user output to the customer based at least partially on the financial indicator received by the communication;

instructions for receiving, at a processing device of the electronic device, a signal from the point of sale terminal requesting payment information;

instructions for receiving customer input selecting one of two or more accounts owned by the customer;

instructions for presenting to the customer an indicator indicating the account selected by the customer,

instructions for reading, using the processing device, at least a portion of account information stored at a memory device of the electronic device, the portion corresponding with the selected account; and

instructions for instructing, by the processing device of the electronic device, a communication device of the electronic device to communicate the portion of account information corresponding with the selected account to the point of sale terminal in response to the request.

28. The computer program product of claim 27, wherein the instructions further comprise:

instructions for receiving, at a communication device of the electronic device, a confirmation communication communicated from the point of sale terminal, the confirmation communication configured to communicate successful completion of the transaction.

29. The computer program product of claim 28, wherein the instructions further comprise:

instructions for instructing a display of the wearable article, by the processing device, to display an indication to the customer, the indication based at least in part on the received confirmation communication sent from the point of sale terminal and configured to communicate successful completion of the transaction.

30. The computer program product of claim 27, wherein the instructions further comprise:

instructions for receiving a field at a communication device of the electronic device, the field generated by the point of sale terminal;

instructions for deriving a power signal from the field; and

instructions for storing power from the derived power signal at the energy storage element of the electronic device.

31. The computer program product of claim 27, wherein the instructions further comprise:

instructions for receiving, at a communication device of the electronic device, a signal from the point of sale terminal requesting payment information; and

instructions for communicating the signal requesting payment information from the communication device to the processing device.

32. The computer program product of claim 31, wherein the instructions further comprise:

instructions for receiving a field at a second communication device of the electronic device, the field generated by the point of sale terminal;

instructions for deriving a power signal from the field; and

instructions for storing power from the derived power signal at the energy storage element of the electronic device.