System and method for providing smart electronic wallet and reconfigurable transaction card thereof

• US 8,977,569 B2
• Filed: 08/14/2012
• Issued: 03/10/2015
• Est. Priority Date: 09/29/2011
• Status: Active Grant

• Current Assignee: Raj Rao
• Original Assignee: Raj Rao
• Inventors: Rao, Raj
• Primary Examiner(s): KANERVO, VIRPI H
• Application Number:
  US13/585,585
• Publication Number:
  US 20140006277A1
• Time in Patent Office: 938 Days
• US Class Current: 705/41
• CPC Class Codes: G06K 19/06196 Constructional details
• CPC Class Codes: G06K 19/07707 the visual interface being a display, e.g. LCD or electronic ink
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/341 Active cards, i.e. cards including their own processing means, e.g. including an IC or chip
• CPC Class Codes: G06Q 20/347 Passive cards
• 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 20/3672 initialising or reloading thereof
• CPC Class Codes: G06Q 20/4012 Verifying personal identification numbers [PIN]
• CPC Class Codes: G06Q 20/40145 Biometric identity checks
• CPC Class Codes: G07F 7/086 by passive credit-cards adapted therefor, e.g. constructive particularities to avoid counterfeiting, e.g. by inclusion of a physical or chemical security-layer for security documents G07D7/00; for the reading of record-carriers in general G06K7/00; for the design of coded credit-cards G06K19/10
• CPC Class Codes: G07F 7/1008 Active credit-cards provided with means to personalise their use, e.g. with PIN-introduction/comparison system

Abstract

A smart electronic wallet with reconfigurable multiple-account transaction card is provided. The system and method provide measures for storing a plurality of account identifiers from a plurality of traditional single-use transaction cards into a storage memory in a smart wallet. The system and method also provide for storing a reconfigurable multiple-account transaction card within the smart electronic wallet and allowing for it to be dynamically and selectively reconfigured for any one of the plurality of account identifiers stored within the smart electronic wallet. Additionally, a consumer is able to initiate a transfer or trade of transaction cards across different smart electronic wallet devices.

Claims

1. A portable system for electronically emulating a wallet and account-bearing transactional card contents thereof, comprising:

a portable wallet body defining at least one compartment;

at least one proxy card removably stored within said portable wallet body, said proxy card being selectively modified in electronic configuration locally within said portable system selectively emulating each of a plurality of predetermined account bearing transaction cards having externally readable portions respectively encoded with account data corresponding thereto;

a transaction card interface unit disposed within said portable wallet body having a processor and a memory combined therewith, said transaction card interface unit including;

a user interface portion; and

,

a card encoding portion coupled to said user interface portion, said card encoding portion being actuated responsive to said user interface portion to selectively encode the account data corresponding to at least one of the predetermined account-bearing transaction cards onto said proxy card, said proxy card emulating and being thereby readable in place of the at least one of the predetermined account-bearing transaction cards during respective card transactions therefor.

2. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 1, wherein said transaction card interface unit further includes a card decoding portion capturing account data from at least one of said predetermined account-bearing transaction cards.

3. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 1, wherein said card encoding portion includes an electromagnetic write head.

4. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 1, wherein said proxy card includes a selectively reconfigurable passive magnetic strip, said selectively reconfigurable passive magnetic strip encoding at least one account data corresponding to at least one of the predetermined account-bearing transaction cards thereon.

5. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 4, wherein said proxy card further includes a screen displaying at least a portion of the account data.

6. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 1, wherein said proxy card further includes an account storage memory coupled to a power source and an inductive interface unit selectively encoding at least one account data corresponding to at least one of said predetermined account-bearing transaction cards and being thereby readable in substantially identical manner as selected ones of the predetermined account-bearing transaction cards.

7. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 1, wherein said proxy card is encoded to selectively emulate a credit card.

8. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 1, wherein said proxy card is encoded to selectively emulate a gift card.

9. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 6, wherein said portable wallet body further includes a near field communications (NFC) portion.

10. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 9, wherein said proxy card includes a near field communications (NFC) portion, a display portion, and a user interface portion.

11. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 1, further comprising a user authentication portion selectively activating said portable system responsive to detection of a validated user.

12. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 1, wherein said transaction card interface unit includes a web browser portion selectively retrieving pre-stored account data and populating information fields in a purchase website page therewith.

13. The portable system for electronically emulating the wallet and account-bearing transactional card contents thereof as recited in claim 8, wherein said proxy card is locally encoded by said card encoding portion with account data received from a remote source for exchange of the emulated gift card between different users.