SYSTEM FOR AUTHENTICATING A WEARABLE DEVICE FOR TRANSACTION QUEUING

• US 20170061405A1
• Filed: 09/01/2015
• Published: 03/02/2017
• Est. Priority Date: 09/01/2015
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Bryant, Matthew K.
• Granted Patent: US 10,360,560 B2
• Time in Patent Office: Days
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/321 using wearable devices
• CPC Class Codes: G06Q 20/3224 Transactions dependent on location of M-devices
• CPC Class Codes: G06Q 20/3278 RFID or NFC payments by means of M-devices
• CPC Class Codes: G06Q 20/4014 Identity check for transactions

Abstract

Embodiments of the invention are directed to systems, methods, and computer program products for authenticating a wearable device for transaction queuing. The system enables a user to pre-authenticate the wearable device and utilize the pre-authenticated wearable device to execute one or more transactions, from a pending transaction queue, without requiring additional authentication credentials for each transaction. In this regard, the system is configured to receive limits associated with the use of the wearable device and enable the user to initiate a transaction associated with a transaction terminal. Furthermore the system may suggest one or more suitable locations of transaction terminals. The system may then place the transaction in a pending transaction queue and transmit a notification to the user indicating that the transaction has been processed. In response, the system may receive a token from the pre-authenticated wearable device at the transaction terminal and enable the user to complete transaction.

Claims

1. A system for authenticating a wearable device for transaction queuing, the system comprising:

at least one memory device;

at least one communication device connected to a distributed network;

at least one processing device operatively coupled to the at least one memory device and the at least one communication device; and

a module stored in the at least one memory device comprising executable instructions that when executed by the at least one processing device, cause the at least one processing device to;

receive an indication that a user is in possession of the wearable device, the wearable device being associated with a token, the token being associated with the user;

authenticate the wearable device at a first time based on at least receiving the indication that the user is in possession of the wearable device, wherein authenticating the wearable device comprises authentication of the token;

electronically receive one or more limits associated with execution of one or more transactions using the wearable device, the one or more limits being associated with one or more transactions;

receive an indication that the user wishes to execute a first transaction at a transaction terminal, wherein receiving the indication further comprises determining a transaction type associated with the first transaction;

determine that the user continues to remain in possession of the wearable device based on at least continuously monitoring the wearable device from the first time;

determine a first user location, wherein determining the first user location comprises analyzing at least a user profile of the user;

determine one or more locations of transaction terminals based on at least the transaction type and the first user location;

transmit the one or more locations of transaction terminals to the wearable device;

receive a selection of at least one location of the one or more locations of transaction terminals from the user through the wearable device, wherein receiving the selection comprises the user initiating the transaction;

place the first transaction in a pending transaction queue, wherein the pending transaction queue comprises other pending transactions received from the user and one or more other users;

process the first transaction, wherein processing the first transaction comprises at least partial completion of the first transaction;

transmit a notification to the wearable device indicating that the transaction has been processed;

receive the authenticated token from the wearable device at the transaction terminal and authenticate the user without requiring additional authorization credentials, wherein the transaction terminal is associated with the received selection of the at least one location;

complete execution of the first transaction based on at least determining that the first transaction is within the one or more limits and that the user continues to remain in possession of the wearable device from the first time; and

transmit a confirmation indicating the completion of the first transaction to the wearable device.

2. The system of claim 1, wherein the module further comprises instructions that cause the at least one processing device to:

establish an operative communication link between the wearable device and the transaction terminal;

electronically receive an indication that the user has scanned the wearable device at the transaction terminal;

retrieve the token associated with the wearable device based on at least receiving the indication that the user has scanned the wearable device at the transaction terminal, wherein the token comprises user identification information; and

complete authentication of the user using token information associated with the token.

3. The system of claim 1, wherein completing the transaction further comprises:

determining, automatically, a second transaction from the pending transaction queue, wherein the second transaction is associated with the user;

initiating presentation of an interface to the user on the transaction terminal, the interface enabling the user to initiate the second transaction;

completing execution of the second transaction based on at least determining that the second transaction is within the one or more limits and that the user continues to remain in possession of the wearable device from the first time;

receiving an indication that the user, through the interface, to initiate a third transaction, wherein the third transaction is not in the pending transaction queue; and

completing execution of the third transaction based on at least determining that the third transaction is within the one or more limits and that the user continues to remain in possession of the wearable device from the first time;

4. The system of claim 1, wherein transmitting the notification to the wearable device indicating that the transaction has been processed further comprises:

determining a second user location based on communication with the wearable device;

determining that the second user location is within a predetermined distance from the transaction terminal;

determining a start time associated with the first transaction based on at least determining the number of other users waiting at the transaction terminal and retrieving scheduled transactions at the transaction terminal;

determining an end time associated with the first transaction based on at least the transaction type associated with the first transaction and historical durations of the transactions at the transaction terminal; and

transmitting the notification to the user wearable device comprising at least the approximate start time, the approximate end time and a route map;

wherein the route map directs the user to the transaction terminal or a waiting area.

5. The system of claim 4, wherein determining the second user location further comprises:

analyzing the global positioning information received from the wearable device; and

establishing a communication link between a transmitter associated with the transaction terminal and the wearable device;

wherein the transmitter transmits an encoded signal that is received and decoded by the wearable device;

wherein the wearable device transmits the second user location to the transaction terminal.

6. The system of claim 1, wherein the module is further configured to:

continuously monitor the wearable device to determine whether the user continues to remain in possession of the wearable device, wherein monitoring further comprises continuously receiving input from the wearable device, the input comprising biometric feedback associated with the wearable device.

7. The system of claim 1, wherein the module is further configured to:

electronically receive one or more limits associated with execution of one or more transactions using the wearable device, wherein the one or more limits comprise at least a spending limit, a threshold on a number of transactions, a time limit, a merchant category, a product category, and/or a geographic location.

8. A computer program product for retirement planning to determine the impact of one or more secondary users on a primary user'"'"'s retirement, comprising a non-transitory computer-readable storage medium having computer-executable instructions to:

receive an indication that a user is in possession of the wearable device, the wearable device being associated with a token, the token being associated with the user;

authenticate the wearable device at a first time based on at least receiving the indication that the user is in possession of the wearable device, wherein authenticating the wearable device comprises authentication of the token;

electronically receive one or more limits associated with execution of one or more transactions using the wearable device, the one or more limits being associated with one or more transactions;

receive an indication that the user wishes to execute a first transaction at a transaction terminal, wherein receiving the indication further comprises determining a transaction type associated with the first transaction;

determine that the user continues to remain in possession of the wearable device based on at least continuously monitoring the wearable device from the first time;

determine a first user location, wherein determining the first user location comprises analyzing at least a user profile of the user;

determine one or more locations of transaction terminals based on at least the transaction type and the first user location;

transmit the one or more locations of transaction terminals to the wearable device;

receive a selection of at least one location of the one or more locations of transaction terminals from the user through the wearable device, wherein receiving the selection comprises the user initiating the transaction;

place the first transaction in a pending transaction queue, wherein the pending transaction queue comprises other pending transactions received from the user and one or more other users;

process the first transaction, wherein processing the first transaction comprises at least partial completion of the first transaction;

transmit a notification to the wearable device indicating that the transaction has been processed;

receive the authenticated token from the wearable device at the transaction terminal and authenticate the user without requiring additional authorization credentials, wherein the transaction terminal is associated with the received selection of the at least one location;

complete execution of the first transaction based on at least determining that the first transaction is within the one or more limits and that the user continues to remain in possession of the wearable device from the first time; and

transmit a confirmation indicating the completion of the first transaction to the wearable device.

9. The computer program product of claim 8, wherein the non-transitory computer-readable storage medium further having computer-executable instructions to:

establish an operative communication link between the wearable device and the transaction terminal;

electronically receive an indication that the user has scanned the wearable device at the transaction terminal;

retrieve the token associated with the wearable device based on at least receiving the indication that the user has scanned the wearable device at the transaction terminal, wherein the token comprises user identification information; and

complete authentication of the user using token information associated with the token.

10. The computer program product of claim 8, wherein completing the transaction further comprises:

determining, automatically, a second transaction from the pending transaction queue, wherein the second transaction is associated with the user;

initiating presentation of an interface to the user on the transaction terminal, the interface enabling the user to initiate the second transaction;

completing execution of the second transaction based on at least determining that the second transaction is within the one or more limits and that the user continues to remain in possession of the wearable device from the first time;

receiving an indication that the user, through the interface, to initiate a third transaction, wherein the third transaction is not in the pending transaction queue; and

completing execution of the third transaction based on at least determining that the third transaction is within the one or more limits and that the user continues to remain in possession of the wearable device from the first time;

11. The computer program product of claim 8, wherein transmitting the notification to the wearable device indicating that the transaction has been processed further comprises:

determining a second user location based on communication with the wearable device;

determining that the second user location is within a predetermined distance from the transaction terminal;

determining a start time associated with the first transaction based on at least determining the number of other users waiting at the transaction terminal and retrieving scheduled transactions at the transaction terminal;

determining an end time associated with the first transaction based on at least the transaction type associated with the first transaction and historical durations of the transactions at the transaction terminal; and

transmitting the notification to the user wearable device comprising at least the approximate start time, the approximate end time and a route map;

wherein the route map directs the user to the transaction terminal or a waiting area.

12. The computer program product of claim 11, wherein determining the second user location further comprises:

analyzing the global positioning information received from the wearable device; and

establishing a communication link between a transmitter associated with the transaction terminal and the wearable device;

wherein the transmitter transmits an encoded signal that is received and decoded by the wearable device;

wherein the wearable device transmits the second user location to the transaction terminal.

13. The computer program product of claim 8, wherein the non-transitory computer-readable storage medium further having computer-executable instructions to:

continuously monitor the wearable device to determine whether the user continues to remain in possession of the wearable device, wherein monitoring further comprises continuously receiving input from the wearable device, the input comprising biometric feedback associated with the wearable device.

14. The computer program product of claim 8, wherein the non-transitory computer-readable storage medium further having computer-executable instructions to:

electronically receive one or more limits associated with execution of one or more transactions using the wearable device, wherein the one or more limits comprise at least a spending limit, a threshold on a number of transactions, a time limit, a merchant category, a product category, and/or a geographic location.

15. A method for authenticating a wearable device for transaction queuing, the method comprising:

receiving an indication that a user is in possession of the wearable device, the wearable device being associated with a token, the token being associated with the user;

authenticating the wearable device at a first time based on at least receiving the indication that the user is in possession of the wearable device, wherein authenticating the wearable device comprises authentication of the token;

electronically receiving one or more limits associated with execution of one or more transactions using the wearable device, the one or more limits being associated with one or more transactions;

receiving an indication that the user wishes to execute a first transaction at a transaction terminal, wherein receiving the indication further comprises determining a transaction type associated with the first transaction;

determining that the user continues to remain in possession of the wearable device based on at least continuously monitoring the wearable device from the first time;

determining a first user location, wherein determining the first user location comprises analyzing at least a user profile of the user;

determining one or more locations of transaction terminals based on at least the transaction type and the first user location;

transmitting the one or more locations of transaction terminals to the wearable device;

receiving a selection of at least one location of the one or more locations of transaction terminals from the user through the wearable device, wherein receiving the selection comprises the user initiating the transaction;

placing the first transaction in a pending transaction queue, wherein the pending transaction queue comprises other pending transactions received from the user and one or more other users;

processing the first transaction, wherein processing the first transaction comprises at least partial completion of the first transaction;

transmitting a notification to the wearable device indicating that the transaction has been processed;

receiving the authenticated token from the wearable device at the transaction terminal and authenticate the user without requiring additional authorization credentials, wherein the transaction terminal is associated with the received selection of the at least one location;

completing execution of the first transaction based on at least determining that the first transaction is within the one or more limits and that the user continues to remain in possession of the wearable device from the first time; and

transmitting a confirmation indicating the completion of the first transaction to the wearable device.

16. The method of claim 15, further comprising:

establishing an operative communication link between the wearable device and the transaction terminal;

electronically receiving an indication that the user has scanned the wearable device at the transaction terminal;

retrieving the token associated with the wearable device based on at least receiving the indication that the user has scanned the wearable device at the transaction terminal, wherein the token comprises user identification information; and

completing authentication of the user using token information associated with the token.

17. The method of claim 15, wherein completing the transaction further comprises:

determining, automatically, a second transaction from the pending transaction queue, wherein the second transaction is associated with the user;

initiating presentation of an interface to the user on the transaction terminal, the interface enabling the user to initiate the second transaction;

completing execution of the second transaction based on at least determining that the second transaction is within the one or more limits and that the user continues to remain in possession of the wearable device from the first time;

receiving an indication that the user, through the interface, to initiate a third transaction, wherein the third transaction is not in the pending transaction queue; and

completing execution of the third transaction based on at least determining that the third transaction is within the one or more limits and that the user continues to remain in possession of the wearable device from the first time;

18. The method of claim 15, wherein transmitting the notification to the wearable device indicating that the transaction has been processed further comprises:

determining a second user location based on communication with the wearable device;

determining that the second user location is within a predetermined distance from the transaction terminal;

determining a start time associated with the first transaction based on at least determining the number of other users waiting at the transaction terminal and retrieving scheduled transactions at the transaction terminal;

determining an end time associated with the first transaction based on at least the transaction type associated with the first transaction and historical durations of the transactions at the transaction terminal; and

transmitting the notification to the user wearable device comprising at least the approximate start time, the approximate end time and a route map;

wherein the route map directs the user to the transaction terminal or a waiting area.

19. The method of claim 18, wherein determining the second user location further comprises:

analyzing the global positioning information received from the wearable device; and

establishing a communication link between a transmitter associated with the transaction terminal and the wearable device;

wherein the transmitter transmits an encoded signal that is received and decoded by the wearable device;

wherein the wearable device transmits the second user location to the transaction terminal.

20. The method of claim 15, further comprising:

continuously monitoring the wearable device to determine whether the user continues to remain in possession of the wearable device, wherein monitoring further comprises continuously receiving input from the wearable device, the input comprising biometric feedback associated with the wearable device.