Portable electronic authorization system and method

Abstract

In one embodiment, an apparatus comprises a user authenticator and a transponder. The transponder is permitted to emit a wireless signal representing information stored in the apparatus in response to a wireless interrogation signal after the user authenticator has authenticated the identity of the user. In another embodiment, an apparatus comprises, a memory, a user input, and a transponder. The memory stores at least first and second distinct codes. The user input permits a user to select any one of the at least first and second codes for transmission in response to a wireless interrogation signal. The transponder emits a wireless signal representing the selected one of the at least first and second codes in response to an interrogation signal. In yet another embodiment, a token that may be used to engage in a transaction at a point of sale comprises a substrate, a rewritable memory, and a reconfigurable display. The rewriteable memory is supported by the substrate and can be selectively configured to store information on the token that identifies an account that is to be used to engage in the transaction at the point of sale. The substrate and memory are configured and arranged such that the substrate can be selectively interfaced with an apparatus at the point of sale to permit the apparatus to read the contents of the memory. The reconfigurable display is also supported by the substrate and displays at least some of the information that is stored in the rewritable memory.

Description

RELATED APPLICATIONS [0001] This application is a Divisional of application Ser. No. 10 / 392,319, filed Mar. 19, 2003, and now pending, which claims the benefit of each of (1) application Ser. No. 60 / 366,098, filed Mar. 19, 2002, and (2) application Ser. No. 60 / 379,964, filed May 13, 2002, and which is a Continuation-in-Part (CIP) of application Ser. No. 09 / 968,628, filed Oct. 1, 2001, and now pending, which is a CIP of application Ser. No. 09 / 675,438, filed Sep. 28, 2000, and now pending, which claims the benefit of each of the following U.S. Provisional Patent Applications: (1) application Ser. No. 60 / 156,356, filed Sep. 28, 1999; (2) application Ser. No. 60 / 167,050, filed Nov. 23, 1999; (3) application Ser. No. 60 / 184,425, filed Feb. 23, 2000; and (4) application Ser. No. 60 / 217,542, filed Jul. 12, 2000.FIELD OF THE INVENTION [0002] The present inventions are directed to novel systems and methods for engaging in transactions involving financial and / or non-financial media. BACKGROU...

AI Technical Summary

Benefits of technology

"The present invention relates to an apparatus and method for securely accessing information stored in a device at a point of sale. The apparatus includes a user authenticator and a transponder that can emit a wireless signal representing the information stored in the device in response to a wireless interrogation signal. The method involves authenticating the identity of a user and enabling the apparatus to access restricted information on a server. The invention also includes a system for altering settings on a computer to correspond to settings on an electronic device distinct from the computer. The technical effects of the invention include improved security and convenience for users and increased efficiency for point-of-sale transactions."

Problems solved by technology

Wallets are frequently stolen, lost, or misplaced.

As anyone who has lost a wallet can testify, replacing the contents of a wallet can be cumbersome and expensive.

In addition, if a wallet is stolen or if a lost wallet falls into the wrong hands, the contents of the wallet may be used to engage in unauthorized activities which financially detriment the wallet owner, as well as any banks, credit issuers, and / or other institutions that issued financial media to the wallet owner.

While the wallet owner is generally able to “cancel” financial media in such situations by contacting the respective financial media issuers, often times this is done too late, i.e., after one or more media have been exploited by the unauthorized user.

In some cases, the wallet owner may not recall all of the contents of the now stolen wallet, and so may fail to report theft of one or more items.

Further, in addition to any cash contained in a lost or stolen wallet, many media issued by non-financial media issuers have a significant cash value, e.g., transportation tickets, event tickets, commuter passes, and the like, and therefore represent an immediate (and often times unrecoverable) financial loss to the wallet owner.

Moreover, the misappropriation of media issued by non-financial media issuers that contain personal information, e.g., a drivers license, social security card, identification card, etc., present the opportunity for an unauthorized possessor of a wallet to engage in the practice known as “identity theft,” whereby the possessor may assume the identity of the wallet owner for various fraudulent purposes, e.g., using the assumed identity to obtain and exploit one or more new financial media.

Unfortunately, while this aspect of these devices make them convenient, it also makes them highly susceptible to loss or theft.

Whenever an RFID tag falls into the wrong hands, there is potential for it to be misused for a long period of time before it is discovered to be missing and some action is take to disable the account associated with it so that it can no longer be used to authorize transactions.

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