Patent ID: 11861591
Assignee: CAPITAL ONE SERVICES, LLC
Field: IT methods for management (Electrical engineering)
Classification: CPC G  H | IPC G  H

Claim 7:
8. A wearable transaction device, comprising:
a housing defining an interior;
a fastener component attached to the housing,
the fastener component being movable between an open position and a closed position to facilitate attaching the wearable transaction device to a user or item associated with the user; and

an electronic chip enclosed within the interior,
the electronic chip configured to:
receive, from a user device and via a connection with the user device, security information for placing the wearable transaction device in a payment mode or a non-payment mode,
the payment mode allowing the wearable transaction device to be used to perform a transaction independent of communication with the user device, and
the non-payment mode preventing the wearable transaction device from being used to perform the transaction until the wearable transaction device is re-paired with the user device,

terminate the connection with the user device;
receive transaction information; and
determine, based on the security information and the transaction information, whether to transition the wearable transaction device into the payment mode or non-payment mode.