Wearable device as a payment vehicle
First Claim
1. A system configured to facilitate a financial transaction using a wearable device as a payment vehicle, the system comprising:
- the wearable device comprising;
a wearable article, wherein the wearable article comprises one or more features securing the wearable article to a person or an item associated with the person; and
a portion of said wearable article comprising at least one machine-readable indicia, wherein the at least one machine-readable indicia, when successfully read, provides payment information for facilitating the financial transaction; and
a mobile communication device comprising;
a memory;
at least one processor; and
a module stored in memory, executable by the at least one processor, and configured to cause the at least one processor to;
receive from a second device the at least one readable indicia, which was scanned via a sensor associated with the second device, the readable indicia being associated with the wearable device of the user;
receive a first user input that assigns the at least one readable indicia to a financial payment account;
receive at least one limit associated with a user'"'"'s spending, where the limit is associated with the at least one readable indicia;
continuously monitor the user spending, wherein monitoring further comprises comparing the user spending with the at least one limit, wherein comparing further comprises assigning a spending index to indicate whether the user spending is lesser than, equal to, or greater than the at least one limit; and
display the spending index on a display device associated with the wearable device.
1 Assignment
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Accused Products
Abstract
The present invention is directed to apparatuses, methods, and computer-program products for a multipurpose wearable device that is associated with one or more financial accounts wherein, in use, the wearable device is configured to facilitate a financial transaction using at least one of the one or more financial accounts. The wearable device comprises: a wearable article, wherein the wearable article comprises one or more features securing the wearable article to a person or an item associated with the person; and a portion comprising a machine-readable indicia, wherein the machine-readable indicia, when successfully read, provides payment information for conducting a financial transaction.
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Citations
17 Claims
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1. A system configured to facilitate a financial transaction using a wearable device as a payment vehicle, the system comprising:
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the wearable device comprising; a wearable article, wherein the wearable article comprises one or more features securing the wearable article to a person or an item associated with the person; and a portion of said wearable article comprising at least one machine-readable indicia, wherein the at least one machine-readable indicia, when successfully read, provides payment information for facilitating the financial transaction; and a mobile communication device comprising; a memory; at least one processor; and a module stored in memory, executable by the at least one processor, and configured to cause the at least one processor to; receive from a second device the at least one readable indicia, which was scanned via a sensor associated with the second device, the readable indicia being associated with the wearable device of the user; receive a first user input that assigns the at least one readable indicia to a financial payment account; receive at least one limit associated with a user'"'"'s spending, where the limit is associated with the at least one readable indicia; continuously monitor the user spending, wherein monitoring further comprises comparing the user spending with the at least one limit, wherein comparing further comprises assigning a spending index to indicate whether the user spending is lesser than, equal to, or greater than the at least one limit; and display the spending index on a display device associated with the wearable device. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17)
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Specification