Wearable Payment Device with Wireless Power and Data Transmission
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Solution Overview
Problem
Users face challenges in minimizing the number of payment devices they need to carry, especially in situations where security risks are heightened, such as at beaches, where leaving belongings unattended poses a security risk.
Innovation Solution
A wearable article configured with a band or ring that includes an electronic device with an energy storage element, memory, and communication capabilities, allowing it to securely store and transmit payment information to a point of sale terminal, powered by a field generated by the terminal.
Engineering Contradictions & Design Principles
Engineering Contradiction Analysis
1Reliability
If customers carry multiple payment devices (cards, wallets, identification), then they have sufficient payment options and identification capability, but they increase the security risk of loss or theft and cannot minimize carried items
Solution Approach 1:
The patent combines multiple payment devices, identification documents, and security features into a single wearable article. The wearable article integrates payment card functionality, identification capability, and secure storage in one device that can be worn on the body, thereby reducing the number of separate items customers must carry while maintaining or enhancing security through features like biometric authentication and encrypted storage.
Solution Approach 2:
The wearable article is designed to perform multiple functions simultaneously: it serves as a payment device, identification document, security token, and storage medium. This multi-functional design allows customers to replace multiple separate devices with a single universal wearable article that provides all necessary functions, thereby reducing the quantity of carried items while maintaining comprehensive functionality.
2Ease of operation
If customers leave belongings unattended at beaches, then they can enjoy ocean swimming, but they create a significant security risk for their payment devices and identification
Solution Approach 1:
The wearable article enables customers to make payments and access services directly from their wrist without needing to retrieve cards or wallets from bags. The device can communicate wirelessly with point-of-sale terminals, allowing customers to complete transactions while their belongings remain securely stored in beach bags or lockers, eliminating the need to handle unattended items.
Solution Approach 2:
The patent replaces mechanical interaction with physical cards and wallets by implementing wireless communication between the wearable article and point-of-sale terminals. This substitution allows customers to perform payment functions without physically accessing their bags or wallets, enabling them to leave belongings unattended while maintaining full payment capability.
3Reliability
If customers minimize carried items to reduce security risk, then they improve security posture, but they may lack sufficient payment functionality or identification capability
Solution Approach 1:
The wearable article employs a nested structure where multiple functional components are integrated within a single device. Payment cards, identification documents, security tokens, and storage capabilities are nested within the wearable article, allowing customers to carry one item that contains the functionality of multiple separate devices, thereby maintaining versatility while minimizing the number of carried items.
Solution Approach 2:
The wearable article uses composite construction combining durable, water-resistant, and secure materials to create a single device that provides comprehensive functionality. The composite design integrates payment processing components, identification elements, security features, and storage capabilities into one unified article that can withstand various environments while maintaining all necessary functions.
Applied Scientific Principles
This section explains which scientific principles are used to turn an abstract innovation direction into a practical engineering solution.
Function Achieved in This Case
Enables secure and convenient payment transactions without the need to carry multiple payment devices, providing a secure and efficient way to manage financial transactions while minimizing the risk of loss or theft.
Implementation Method 1
the wearable article receives power from a field generated by the point of sale terminal
Data Source
AI summary
A wearable article is configured for providing payment information to a point of sale terminal during a transaction. The wearable article, in some embodiments, includes a band configured for wrapping around a body part of the customer and for carrying an electronic device. In some embodiments, the band has an attachment system for removably securing the band to the body part of the customer. The electronic device includes an energy storage element, a memory device, a communication device and a processing device. The processing device is configured for receiving a communication from the point of sale terminal requesting payment information for completion of the transaction. The processing device reads account information from the memory device and communicates payment information to the point of sale terminal. In some embodiments, the wearable article receives power from a field generated by the point of sale terminal.