Personal identification and credit information system and method of performing transaction

• US 5,677,521 A
• Filed: 06/29/1995
• Issued: 10/14/1997
• Est. Priority Date: 06/29/1995
• Status: Expired due to Fees

• Current Assignee: Elizabeth B. Garrou
• Original Assignee: Elizabeth B. Garrou
• Inventors: Garrou, Elizabeth B.
• Primary Examiner(s): PITTS, HAROLD I
• Application Number:
  US08/496,738
• Time in Patent Office: 838 Days
• Field of Search: 235/375, 235/380, 235/492
• US Class Current: 235/375
• CPC Class Codes: G06F 21/34 involving the use of external additional devices, e.g. dongles or smart cards
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/363 with the personal data of a user
• CPC Class Codes: G07F 7/02 by keys or other credit registering devices
• CPC Class Codes: G07F 7/0866 by active credit-cards adapted therefor G07F7/1008 takes precedence
• CPC Class Codes: G07G 1/0036 Checkout procedures

Abstract

A personal identification and credit information system and a method of performing a transaction are provided for reducing inconveniences associated with using identifications, credit cards, debit cards, or the like when a user engages in purchase, credit, or banking transactions. The personal identification and credit information system preferably includes a ring arranged for inserting a finger of a user therethrough. The ring preferably has a memory device mounted to the ring for storing data therein. The ring preferably has a storage chamber connected to an outer surface of the ring for positioning the memory device therein. The memory device preferably includes a personal identification and credit data file having personal identification and credit data stored in a predetermined format in the personal identification and credit data file. A communicator preferably is electrically connected to the memory device for communicating personal identification and credit data to and from the personal identification and credit data file of the memory device. The system also preferably includes a scanner arranged to be positioned adjacent the communicator of the ring and in electrical communication therewith for receiving personal identification and credit data from the personal identification and credit data file of the memory device to thereby responsively determine whether to authorize a transaction.

Claims

1. A personal identification and credit information system for reducing inconveniences associated with using credit cards when a user engages in transactions, the personal identification and credit information system comprising:

a ring arranged for inserting a finger of a user therethrough, a memory device mounted to said ring, said memory device including a personal identification credit data file having personal identification and a credit data stored in a predetermined format in said personal identification and a credit data file, and means electrically connected to said memory device for communicating personal identification and credit data to and from said personal identification and credit data file of said memory device;

means arranged to be positioned adjacent said communicating means of said ring and in electrically communication therewith for receiving personal identification and credit data from said personal identification and credit data file of said memory device to thereby responsively determine whether to authorize a transaction;

wherein said ring further includes a protective cover pivotally mounted to said ring and overlying said memory device when positioned in a closed position for protecting said memory device, and wherein said protective cover includes at least one data communications port through which said communicating means of said ring communicates the personal identification and credit data from said memory device of said ring to said communication receiving means.

2. A personal identification and credit information system as defined in claim 1, wherein said memory device comprises a first memory device and wherein said communication receiving means comprises a scanner which includes:

a transducer arranged to receive communications from said memory device representative of personal identification and credit data and to responsively form electrical signals representative of the received personal identification and credit data;

a processor positioned in electrical communication with said transducer for processing the electrical signals representative of personal identification and credit data received by said transducer from said first memory device of said ring;

a second memory device positioned in electrical communication with said processor for storing data representative of a purchase transaction;

means positioned in electrical communication with said processor for comparing the personal identification and credit data to the purchase transaction data to thereby responsively determine whether to authorize the purchase transaction; and

a display in electrical communication with said processor for displaying data representative of authorization of the credit transaction to a user of said scanner.

3. A personal identification and credit information system as defined in claim 1, wherein said predetermined file format includes a plurality of predetermined data fields for transferring the personal identification and credit data to said communication receiving means.

4. A personal identification and credit information system as defined in claim 1, further comprising a ring interface for transmitting the personal identification and credit data to said memory device of said ring for storage therein.

5. A personal identification and credit information system as defined in claim 4, wherein said ring interface comprises a computer, said computer including a keyboard, a processor in electrical communication with said keyboard for processing the personal identification and credit data, a third memory device in electrical communication with said processor for storing the entry of the personal identification and credit data, communicating means positioned in electrical communication with said processor and said third memory device for communicating the personal identification and credit data, and a port positioned closely adjacent said communicating means for positioning said first memory device therein so as to communicate the personal identification and credit data from said third memory device to said first memory device for storage therein.

6. A personal identification and credit information system for reducing inconveniences associated with using credit cards when a user engages in transactions, the personal identification and credit information system comprising:

a ring arranged for inserting a finger of the user therethrough, said ring including a inner surface for abuttingly contacting the finger when positioned on the finger of the user and an opposing outer surface, a storage chamber mounted to the outer surface, a first memory device mounted within said storage chamber for storing data therein, said first memory device including a personal identification and credit data file having personal identification and credit data stored in a predetermined format in said personal identification and credit data file, said predetermined format including a plurality of data fields, and a transceiver electrically connected to said memory device for receiving the personal identification and credit data to and transmitting the personal identification and credit data from said credit data file of said first memory device;

a scanner arranged to be positioned adjacent said transceiver of said ring and an electrical communication therewith for receiving personal identification and credit data from said personal identification and credit data file of said first memory device, said scanner including a transducer arranged to receive communications from said first memory device representative of personal identification and credit data and to responsively form electrical signals representative of the received personal identification and credit data, a processor positioned in electrical communication with said transducer for processing the electrical signals representative of personal identification and credit data received by said transducer from said first memory device of said ring, a second memory device positioned in electrical communication with said processor for storing data representative of a purchase transaction, a comparator positioned in electrical communication with said processor for comparing the personal identification and credit data to the purchase transaction data to thereby responsively determine whether to authorize a transaction;

wherein said ring further includes a protective cover pivotally mounted to and overlying said storage chamber when in a closed position for protecting said memory device positioned in said storage chamber, wherein said protective cover includes at least one data communications port positioned in said cover and through which said transceiver of said ring communicates the personal identification and credit data from said memory device of said ring to said scanner.

7. A personal identification and credit information system as defined in claim 6, further comprising a ring interface for transmitting the personal identification and credit data to said memory device of said ring for storage therein.

8. A personal identification and credit information system as defined in claim 7, wherein said ring interface comprises a computer, said computer including a keyboard, a processor in electrical communication with said keyboard for processing the personal identification and credit data, a third memory device in electrical communication with said processor for storing the entry of the personal identification and credit data, a transmitter position in electrical communication with said processor and said third memory device for transmitting the personal identification and credit data, and a port positioned closely adjacent said transmitter for positioning said first memory device therein so as to transmit the personal identification and credit data from said third memory device of said ring interface to said first memory device of said ring for storage therein.

9. A personal identification and credit verification ring for storing personal identification and credit data and arranged to be positioned on a finger of a user thereof, said ring comprising:

an inner surface for abuttingly contacting the finger of a user;

an opposing outer surface;

a storage chamber connected to the outer surface;

a memory device mounted within the storage chamber for storing data therein, said memory device including a personal identification and credit data file having personal identification and credit data stored in a predetermined format in said credit data file;

means electrically connected to said memory device for communicating personal identification and credit data to and from said personal identification and credit data file of said memory device; and

a protective cover pivotally connected to an overlying said storage chamber when in a closed position to protect said memory device, said protective cover including at least one data communications port positioned therein through which said communicating means of said ring communicates the personal identification and credit data from said memory device of said ring.

10. A personal identification and credit verification ring as defined in claim 9, wherein said predetermined file format includes a plurality of predetermined data fields.

11. A personal identification and credit verification ring for storing personal identification and credit data and arranged to be positioned on a finger of a user thereof, said ring comprising:

an inner surface for abuttingly contacting the finger of a user;

an opposing outer surface;

a storage chamber integrally formed with the outer surface;

a memory device mounted within the storage chamber for storing data therein, said memory device including a personal identification and credit data file having personal identification and credit data stored in a predetermined format in said personal identification and credit data file, said predetermined format having a plurality of predetermined data fields;

a transceiver electrically connected to said memory device for receiving personal identification and credit data to and transmitting personal identification and credit data from said personal identification and credit data file of said memory device; and

a protective cover pivotally mounted to and overlying said storage chamber when in a closed position for protecting said memory device, said protective cover including a data communications port positioned therein and positioned closely adjacent said transceiver through which said memory device of said ring receives and transmits the personal identification and credit data.