Patent ID: 11860988
Assignee: UNITED SERVICES AUTOMOBILE ASSOCIATION (USAA)
Field: Computer technology (Electrical engineering)
Classification: CPC G | IPC G

Claim 15:
16. A system for conducting electronic financial transactions using a wearable smart ring device, the system comprising:
a wearable smart ring device including at least one of a near-field communication (NFC) sensor or a radio frequency identification (RFID) sensor, a short-range communication sensor, and at least one biometric sensor, the at least one biometric sensor being disposed on an inside surface of the wearable smart ring device;
a mobile device including a communication module configured to permit the mobile device to communicate with the short-range communication sensor of the wearable smart ring device; and
another wearable device in the form of a smart watch worn by the user;
wherein the mobile device is configured to:
perform an initial pairing between the mobile device and the wearable smart ring device using a short-range wireless communication technology;
during a subsequent interaction after the initial pairing, detect that the wearable smart ring device is being worn by a user;
in response to detecting that the wearable smart ring device is being worn by the user, display an authentication option message on a display of the mobile device to provide the user with ability to authenticate the wearable smart ring device for conducting electronic financial transactions;
upon receiving a selection to decline the authentication option, permit functionalities of the wearable smart ring device without the ability to conduct electronic financial transactions;
upon receiving a selection of the authentication option, receive authentication information associated with the user of the wearable smart ring device to authenticate the wearable smart ring device for conducting electronic financial transactions at one or more payment terminals; and

wherein, upon initiating an electronic financial transaction at a payment terminal using the wearable smart ring device, the smart watch worn by the user is configured to confirm that the user intends to conduct the electronic financial transaction using the wearable smart ring device;
wherein the wearable smart ring device remains authenticated for conducting subsequent electronic financial transactions until the wearable smart ring device is de-authenticated by using the at least one biometric sensor to detect that the wearable smart ring device has been removed from the finger of the user.