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

Claim 7:
8. A method for conducting electronic financial transactions using a wearable smart ring device, the method comprising:
performing an initial pairing between a mobile device and the wearable smart ring device using a short-range wireless communication technology;
during a subsequent interaction after the initial pairing, detecting, by the mobile device, 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, displaying 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, by the mobile device, a selection to decline the authentication option, permitting functionalities of the wearable smart ring device without the ability to conduct electronic financial transactions;
upon receiving, by the mobile device, a selection of the authentication option, receiving, by the mobile device in communication with the wearable smart ring device, authentication information associated with a user of the wearable smart ring device;
upon determining that the received authentication information matches stored authentication information for the user, authenticating, by the mobile device, the wearable smart ring device for conducting electronic financial transactions;
using the wearable smart ring device to conduct one or more electronic financial transactions at one or more payment terminals, wherein the wearable smart ring device remains authenticated for conducting subsequent electronic financial transactions until the wearable smart ring device is de-authenticated by being removed from the finger of the user;
upon initiating an electronic financial transaction at a payment terminal using the wearable smart ring device, using another wearable device in the form of a smart watch worn by the user to confirm that the user intends to conduct the electronic financial transaction using the wearable smart ring device; and
wherein determining that the wearable smart ring device is removed from the finger of the user comprises:
detecting, using at least one biometric sensor disposed on a portion of an inside surface of the wearable smart ring device, that the wearable smart ring device has been removed from the finger of the user.