Wearable financial indicator

• US 9,177,307 B2
• Filed: 07/29/2010
• Issued: 11/03/2015
• Est. Priority Date: 07/29/2010
• Status: Active Grant

• Current Assignee: Bank of America Corp.
• Original Assignee: Bank of America Corp.
• Inventors: Ross, Erik Stephen, Naelon, Ashley T.
• Primary Examiner(s): Obaid, Fateh M
• Application Number:
  US12/846,576
• Publication Number:
  US 20120030043A1
• Time in Patent Office: 1,923 Days
• Field of Search: None
• US Class Current: 1/1
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes

Abstract

A wearable article, such as but not limited to a watch, wristband, or ring, is configured for indicating financial information to a customer. The wearable article includes a communication device configured for receiving a financial indicator from a server. The financial indicator may be communicated by a financial institution'"'"'s server in accordance with a financial indicator profile pre-established by the customer. A user output device, such as a display, is configured for communicating user output, such as a colored light, to the customer based at least in part on the financial indicator. The wearable article may be configured to communicate with the server through a mobile terminal, such as a mobile phone, an Internet hot spot, a mobile telephony system, a payment network, a point-of-sale terminal, or the like. The wearable article may be configured to communicate with a point-of-sale terminal so that the wearable article can also be used as a payment device.

Claims

1. A wearable article configured for indicating financial information to a customer and providing payment information to a point of sale terminal during a transaction, the wearable article comprising:

a memory device;

a voltage regulator;

an energy storage element for receiving and storing power from radio frequency fields and powering the voltage regulator;

a communication device connected to the voltage regulator and the energy storage element, the communication device configured to receive a first radio frequency (RF) field that powers the voltage regulator and energy storage element;

a processing device connected to the voltage regulator, the processing device configured to;

turn on in response to the communication device receiving the first RF field;

receive a financial indicator from a remote device, the financial indicator indicating a current balance of one or more accounts associated with the customer;

process the financial indicator to determine the financial information; and

a user output device operatively coupled to the processing device and the energy storage element through the voltage regulator, powered by the energy storage element and configured to persistently communicate user output to the customer based at least partially on the financial indicator received by the processing device, wherein the user output device comprises;

a multi-color light emitting diode (LED) powered by the energy storage element, wherein the multi-color LED displays a color based on a series of voltages applied to the multi-color LED; and

an LED control circuit configured to receive a comparison value representing a comparison between the current balance and a pre-established threshold of available funds from a pre-established profile, and to adjust the series of voltages for the multi-color LED based on the received comparison value, thereby updating the color of the multi-color LED;

wherein the processing device is powered by the energy storage element by power stored in the energy storage element from the first RF field;

wherein the processing device is further configured to;

determine at least one pre-established threshold from the pre-established profile accessed from the memory device;

perform a comparison between the current balance and the at least one pre-established threshold, thereby resulting in a comparison value, and

communicate, to the LED control circuit of the user output device, the comparison value;

communicate instructions, to the LED control circuit of the user output device, the instructions configured to cause the LED control circuit to adjust the series of voltages to update the given color of the multi-color LED based on the value;

the wearable device further comprising a memory device configured for storing account information corresponding to one or more accounts owned by the customer;

wherein the processing device is further configured to;

receive a signal from a point of sale device requesting payment information after the customer has initiated a transaction with the point of sale device;

read account information stored in the memory device; and

cause the communication device to transmit the account information to the point of sale terminal in response to the request.

2. The wearable article of claim 1, wherein the user output device comprises a display device configured for communicating a visual indication to the customer corresponding to the financial indicator.

3. The wearable article of claim 1, wherein the user output device comprises an audible device configured for communicating an audible output to the customer corresponding to the financial indicator.

4. The wearable article of claim 1, wherein the user output device comprises a vibratory device configured for communicating a vibratory output to the customer corresponding to the financial indicator.

5. The wearable article of claim 1, wherein the financial indicator comprises one or more standardized indicator instructions configured for instructing the user output device to communicate user output corresponding to the financial indicator.

6. The wearable article of claim 1, wherein the financial health state comprises the customer'"'"'s total balance, net worth, cash flow, or capital gains across one or more financial accounts.

7. The wearable article of claim 1, wherein the financial indicator is determined based at least in part on one or more market conditions.

8. The wearable article of claim 1 further comprising:

an energy storage element configured to power the user output device.

9. The wearable article of claim 8, wherein:

the communication device is further configured for receiving a field generated by a wireless transmitter, deriving a power signal from the field, and storing power from the derived power signal at the energy storage element.

10. The wearable article of claim 1, wherein the remote device comprises a server associated with a financial institution, wherein the pre-established financial indicator profile is stored by the server, and wherein the financial indicator is associated with financial information corresponding to one or more accounts maintained by the financial institution and associated with the customer.

11. The wearable article of claim 1, wherein the remote device comprises a mobile phone configured to communicate the financial indicator to the communication device based on communication with a financial institution server about the financial information, and wherein the pre-established financial indicator profile is stored by the mobile phone.

12. The wearable article of claim 1, wherein the remote device comprises a mobile phone configured to communicate the financial indicator to the communication device based on communication with a financial institution server about the financial information, and wherein the pre-established financial indicator profile is stored by the financial institution server.

13. The wearable article of claim 1, wherein the communication device comprises a near field communication device configured to communicate with the remote device.

14. The wearable article of claim 13, wherein the near field communication device comprises a Bluetooth communication device, a radio frequency communication device, an electromagnetic field communication device, a local area network communication device, or an infrared communication device.

15. The wearable article of claim 1, wherein the communication device comprises a far field communication device configured to communicate with the remote device.

16. The wearable article of claim 15, wherein the far field communication device comprises a wireless telephony communication device.

17. The wearable article of claim 1, wherein the financial activity comprises a transaction associated with at least one financial account of the customer.

18. The wearable article of claim 1, wherein the financial indicator is associated with real-time financial information.

19. The wearable article of claim 1, wherein the communication device is configured to periodically request the financial indicator from the remote device.

20. The wearable article of claim 1 further comprising a user input device operatively coupled to the communication device and configured to receive user input, wherein the communication device is configured to request the financial indicator from the remote device in response to user input received via the user input device.

21. The wearable article of claim 1, wherein the wearable article comprises a ring, a watch, a wallet, a wristband, a necklace, a contact lens, a pair of glasses, or an earring.

22. The wearable article of claim 1, wherein the financial indicator is based at least in part on stock market activity.

23. A method for indicating financial information to a customer and providing payment information to a point of sale terminal during a transaction, the method comprising:

receiving, by a communication device of a wearable article, a first radio frequency (RF) field that powers a voltage regulator and an energy storage element of the wearable article;

storing power received from the first RF field by the energy storage element;

turning on, by a processing device of the wearable article, in response to the communicating device receiving the first RF field;

receiving a financial indicator from a remote device by the processing device, the financial indicator indicating a current balance of one or more accounts associated with the customer;

processing, by the processing device, the financial indicator to determine the financial information;

powering the user output device and the processing device by the energy storage element through the voltage regulator from power received from the first RF field and stored by the energy storage element, wherein the user output device comprises;

a multi-color light emitting diode (LED) powered by the energy storage element, wherein the multi-color LED displays a color based on a series of voltages applied to the multi-color LED; and

an LED control circuit configured to receive a comparison value representing a comparison between the current balance and a pre-established threshold of available funds from a pre-established profile, and to adjust the series of voltages for the multi-color LED based on the received comparison value, thereby updating the color of the multi-color LED;

wherein the method further comprises;

determining at least one pre-established threshold from the pre-established profile accessed from the memory device;

performing a comparison between the current balance and the at least one pre-established threshold, thereby resulting in a comparison value, and

communicating, to the LED control circuit of the user output device, the comparison value;

communicating instructions, to the LED control circuit of the user output device, the instructions configured to cause the LED control circuit to adjust the series of voltages to update the given color of the multi-color LED based on the value;

receiving, by the processing device and from a communication device, a signal from a point of sale device requesting payment information after the customer has initiated a transaction with the point of sale device;

storing, by a memory device of the wearable device, account information corresponding to one or more accounts owned by the customer;

reading, by the processing device, account information stored in the memory device of the wearable device; and

causing, by the processing device, the communication device to transmit the account information to the point of sale terminal in response to the request.

24. The method of claim 23, wherein the communicating user output comprises:

displaying user output via a display device configured for communicating a visual indication to the customer corresponding to the financial indicator.

25. The method of claim 23, wherein the communicating user output comprises:

providing user output via an auditory device configured for communicating an audible indication to the customer corresponding to the financial indicator.

26. The method of claim 23, wherein the communicating user output comprises:

providing user output via a vibratory device configured for communicating a vibratory indication to the customer corresponding to the financial indicator.

27. The method of claim 23, wherein the financial indicator comprises one or more standardized indicator instructions configured for instructing the user output device to communicate user output corresponding to the financial indicator.

28. The method of claim 23, further comprising:

receiving a field at the wearable user output device;

deriving a power signal from the field; and

using the derived power signal to power the wearable user output device.

29. The method of claim 23, wherein the remote device comprises a server associated with a financial institution, wherein the pre-established financial indicator profile is stored by the server, and wherein the financial indicator is associated with financial information corresponding to one or more accounts maintained by the financial institution and associated with the customer.

30. The method of claim 23, wherein the remote device comprises a mobile phone configured to communicate the financial indicator to the communication device based on communication with a financial institution server about the financial information, and wherein the pre-established financial indicator profile is stored by the mobile phone.

31. The method of claim 23, wherein the receiving a financial indicator from a remote device via a communication device comprises:

receiving the financial indicator from a remote device over a local area network.

32. The method of claim 23, wherein the receiving a financial indicator from a remote device via a communication device comprises:

receiving the financial indicator from a remote device over a global area network.

33. The method of claim 23, wherein the communicating user output to the customer via a wearable user output device comprises:

communicating user output instructions to the wearable user output device via a wireless local area network.

34. The method of claim 23, further comprising:

periodically requesting, via the communication device, the financial indicator from the remote device.

35. The method of claim 23, further comprising:

receiving user input from a user input device; and

requesting, via the communication device, the financial indicator from the remote device in response to the user input.

36. The method of claim 23, wherein the wearable user output device comprises a ring, a watch, a wallet, a wristband, a necklace, or an earring having a display device, auditory device, or vibratory device.

37. The method of claim 23, further comprising:

providing, via the wearable user output device, payment information to a point of sale terminal during a transaction.

38. A computer program product configured for indicating financial information to a customer and providing payment information to a point of sale terminal during a transaction, the computer program product comprising a non-transitory computer readable medium comprising computer-executable instructions stored therein, the computer-executable instructions comprising:

instructions for receiving, by a communication device of a wearable article, a first radio frequency (RF) field that powers a voltage regulator and an energy storage element of the wearable article;

instructions for storing power received from the first RF field by the energy storage element;

instructions for turning on, by a processing device of the wearable article, in response to the communicating device receiving the first RF field;

instructions for receiving a financial indicator from a remote device by the processing device, the financial indicator indicating a current balance of one or more accounts associated with the customer;

instructions for processing, by the processing device, the financial indicator to determine the financial information;

instructions for powering the user output device and the processing device by the energy storage element through the voltage regulator from power received from the first RF field and stored by the energy storage element, wherein the user output device comprises;

a multi-color light emitting diode (LED) powered by the energy storage element, wherein the multi-color LED displays a color based on a series of voltages applied to the multi-color LED; and

an LED control circuit configured to receive a comparison value representing a comparison between the current balance and a pre-established threshold of available funds from a pre-established profile, and to adjust the series of voltages for the multi-color LED based on the received comparison value, thereby updating the color of the multi-color LED;

the computer-executable instructions further comprising;

instructions for determining at least one pre-established threshold from the pre-established profile accessed from the memory device;

instructions for performing a comparison between the current balance and the at least one pre-established threshold, thereby resulting in a comparison value, and

instructions for communicating, to the LED control circuit of the user output device, the comparison value;

instructions for communicating instructions, to the LED control circuit of the user output device, the instructions configured to cause the LED control circuit to adjust the series of voltages to update the given color of the multi-color LED based on the value;

instructions for receiving, by the processing device and from a communication device, a signal from a point of sale device requesting payment information after the customer has initiated a transaction with the point of sale device;

instructions for storing, by a memory device of the wearable device, account information corresponding to one or more accounts owned by the customer;

instructions for reading, by the processing device, account information stored in the memory device of the wearable device; and

instructions for causing, by the processing device, the communication device to transmit the account information to the point of sale terminal in response to the request.

39. The computer program product of claim 38, wherein the instructions for receiving a financial indicator from a remote device further comprise:

instructions for receiving the financial indicator from a remote server associated with a financial institution via a global area network.

40. The computer program product of claim 39, wherein the global area network comprises a telephony network.

41. The computer program product of claim 39, wherein the instructions for communicating user output to the customer via a wearable user output device further comprise:

instructions for communicating user output instructions to the wearable user output device over a local area network.

42. The computer program product of claim 41, wherein the local area network comprises a Bluetooth network.

43. The computer program product of claim 41, wherein the instructions for receiving the financial indicator from a remote server associated with a financial institution via a global area network comprise instructions for decrypting the financial indicator using a security protocol.

44. The computer program product of claim 38, wherein the instructions for receiving a financial indicator from a remote device further comprise:

instructions for receiving the financial indicator from a mobile terminal via a local area network.

45. The computer program product of claim 38, wherein the financial indicator comprises one or more standardized indicator instructions configured for instructing the wearable user output device to communicate user output corresponding to the financial indicator.

46. The computer program product of claim 38, wherein the remote device comprises a server associated with a financial institution, and wherein the computer program product further comprises:

instructions for defining the pre-established financial indicator profile based on user input; and

instructions for communicating user output to the customer via a wearable user output device by comparing the financial indicator to the pre-established financial indicator profile and providing user output instructions to the wearable user output device based at least partially on the comparison of the financial indicator to the pre-established financial indicator profile.

47. The computer program product of claim 38, wherein the wearable user output device comprises a ring, a watch, a wallet, a wristband, a necklace, or an earring having a display device, auditory device, or vibratory device.