System and method for electronic wallet transactions

• US 20030055785A1
• Filed: 09/20/2001
• Published: 03/20/2003
• Est. Priority Date: 09/20/2001
• Status: Abandoned Application

• Current Assignee: International Business Machines Corporation
• Original Assignee: International Business Machines Corporation
• Inventors: Lahiri, Sandip
• Application Number:
  US09/956,761
• Publication Number:
  US 20030055785A1
• Time in Patent Office: Days
• US Class Current: 705/41
• CPC Class Codes: G06Q 20/04 Payment circuits
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/28 Pre-payment schemes, e.g. "pay before"
• CPC Class Codes: G06Q 20/403 Solvency checks
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions

Abstract

A system and method for an electronic wallet transaction device is presented. A user enters his account information into an e-wallet. The e-wallet encrypts the account information and receives a password, a spending limit, and a merchandise type that is authorized for purchase. The e-wallet is ready for purchase transactions. The user selects merchandise and takes it to an electronic checkout system. The electronic checkout system scans the merchandise and prompts the e-wallet for authorization to purchase the merchandise. The e-wallet determines if the merchandise is authorized for purchase and if the cost of the merchandise is allowed, and prompts the user for a password. The user enters a password and the e-wallet sends the account information to the electronic checkout system. The electronic checkout system receives the account information and completes the merchandise transaction. The e-wallet may also be used to configure other remote e-wallets.

Claims

1. A method of electronic transaction processing, said method comprising:

receiving a secondary account request from a primary account holder;

authenticating the primary account holder using a primary authentication key; and

configuring a second account based on the secondary account request in response to the authenticating.

2. The method as described in claim 1 wherein the configuring further includes:

setting one or more purchasing restrictions.

3. The method as described in claim 2 wherein the purchasing restrictions are selected from the group consisting of a secondary authentication key, a secondary spending limit, and a secondary authorized merchandise type.

4. The method as described in claim 2 further comprising:

receiving a purchase request corresponding to the secondary account;

comparing the purchasing restrictions with the purchase request; and

authorizing the purchase request in response to the comparing.

5. The method as described in claim 1 further comprising:

sending a secondary purchase history corresponding to the second account to the primary account holder; and

displaying the secondary purchase history on a pervasive computing device corresponding to the primary account holder.

6. The method as described in claim 1 further comprising:

receiving a purchase request from a secondary account holder that corresponds to the second account;

verifying a sufficient account balance corresponding to a primary account that corresponds to the primary account holder;

comparing one or more purchasing restrictions applied to the second account with the purchase request; and

authorizing the purchase request based on the verifying and the comparing.

7. The method as described in claim 6 wherein the authorizing further includes:

receiving a digital signature corresponding to the purchase request; and

determining whether the digital signature is authentic.

8. The method as described in claim 1 further comprising:

assigning a plurality of financial accounts to the second account;

setting one or more purchase restrictions for one or more financial accounts;

receiving a purchase request from a secondary account holder that corresponds to the second account;

determining whether the purchase request satisfies each of the purchase restrictions that corresponds to a first financial account from the plurality of financial accounts; and

comparing the purchase request to a second financial account from the plurality of financial accounts based on the determination.

9. An information handling system comprising:

one or more processors;

a memory accessible by the processors;

one or more nonvolatile storage devices accessible by the processors;

an electronic transaction tool to execute transactions, the electronic transaction tool including;

means for receiving a secondary account request from a primary account holder;

means for authenticating the primary account holder using a primary authentication key; and

means for configuring a second account based on the secondary account request in response to the authenticating.

10. The information handling system as described in claim 9 wherein the means for configuring further includes:

means for setting one or more purchasing restrictions.

11. The information handling system as described in claim 10 wherein the purchasing restrictions are selected from the group consisting of a secondary authentication key, a secondary spending limit, and a secondary authorized merchandise type.

12. The information handling system as described in claim 10 further comprising:

means for receiving a purchase request corresponding to the secondary account;

means for comparing the purchasing restrictions with the purchase request; and

means for authorizing the purchase request in response to the comparing.

13. The information handling system as described in claim 9 further comprising:

means for sending a secondary purchase history corresponding to the second account to the primary account holder; and

means for displaying the secondary purchase history on a pervasive computing device corresponding to the primary account holder.

14. The information handling system as described in claim 9 further comprising:

means for receiving a purchase request from a secondary account holder that corresponds to the second account;

means for verifying a sufficient account balance corresponding to a primary account that corresponds to the primary account holder;

means for comparing one or more purchasing restrictions applied to the second account with the purchase request; and

means for authorizing the purchase request based on the verifying and the comparing.

15. The information handling system as described in claim 14 wherein the means for authorizing further includes:

means for receiving a digital signature corresponding to the purchase request; and

means for determining whether the digital signature is authentic.

16. The information handling system as described in claim 9 further comprising:

means for assigning a plurality of financial accounts to the second account;

means for setting one or more purchase restrictions for one or more financial accounts;

means for receiving a purchase request from a secondary account holder that corresponds to the second account;

means for determining whether the purchase request satisfies each of the purchase restrictions that corresponds to a first financial account from the plurality of financial accounts; and

means for comparing the purchase request to a second financial account from the plurality of financial accounts based on the determination.

17. A computer program product stored in a computer operable media for executing electronic transactions, said computer program product comprising:

means for receiving a secondary account request from a primary account holder;

means for authenticating the primary account holder using a primary authentication key; and

means for configuring a second account based on the secondary account request in response to the authenticating.

18. The computer program product as described in claim 17 wherein the means for configuring further includes:

means for setting one or more purchasing restrictions.

19. The computer program product as described in claim 18 wherein the purchasing restrictions are selected from the group consisting of a secondary authentication key, a secondary spending limit, and a secondary authorized merchandise type.

20. The computer program product as described in claim 18 further comprising:

means for receiving a purchase request corresponding to the secondary account;

means for comparing the purchasing restrictions with the purchase request; and

means for authorizing the purchase request in response to the comparing.

21. The computer program product as described in claim 17 further comprising:

means for sending a secondary purchase history corresponding to the second account to the primary account holder; and

means for displaying the secondary purchase history on a pervasive computing device corresponding to the primary account holder.

22. The computer program product as described in claim 17 further comprising:

means for receiving a purchase request from a secondary account holder that corresponds to the second account;

means for verifying a sufficient account balance corresponding to a primary account that corresponds to the primary account holder;

means for comparing one or more purchasing restrictions applied to the second account with the purchase request; and

means for authorizing the purchase request based on the verifying and the comparing.

23. The computer program product as described in claim 22 wherein the means for authorizing further includes:

means for receiving a digital signature corresponding to the purchase request; and

means for determining whether the digital signature is authentic.

24. The computer program product as described in claim 17 further comprising:

means for assigning a plurality of financial accounts to the second account;

means for setting one or more purchase restrictions for one or more financial accounts;

means for receiving a purchase request from a secondary account holder that corresponds to the second account;

means for determining whether the purchase request satisfies each of the purchase restrictions that corresponds to a first financial account from the plurality of financial accounts; and

means for comparing the purchase request to a second financial account from the plurality of financial accounts based on the determination.