Patent ID: 8195577

Claim:
A system for a user to select any one of a plurality of accounts associated with the user to employ in a financial transaction, comprising: a secure registry including a database containing information concerning the plurality of accounts associated with the user and information concerning a plurality of users having a plurality of accounts, the secure registry connected to a network; a point-of-sale (POS) device programmed to communicate with the secure registry via the network; and an electronic ID device including: a biometric sensor programmed to receive a biometric input provided by the user; a user interface programmed to receive a user input including secret information known to the user and identifying information concerning an account selected by the user from the plurality of accounts, wherein the identifying information does not provide an account number of the account selected by the user; a communication interface programmed to communicate with the secure registry via the network; a discrete code associated with the electronic ID device which is inaccessible to the user; and a processor coupled to the biometric sensor to receive information concerning the biometric input, the user interface and the communication link, the processor programmed to activate the electronic ID device to generate authentication information employed in executing the financial transaction based on the discrete code and a successful authentication by the electronic ID device of each of the biometric input and the secret information, and the processor is programmed such that once the electronic ID device is activated the processor generates the authentication information associated with the account selected by the user from the plurality of accounts, the authentication information including a non-predictable value generated from the discrete code, the information concerning the biometric input and the secret information, wherein the communication interface is programmed to wirelessly transmit the non-predictable value to the POS device; wherein the POS device is programmed to transmit the non-predictable value to the secure registry, wherein the secure registry is programmed to authenticate an identity of the user, by comparing the non-predictable value to authentication information included in the database to determine whether the non-predictable value corresponds to any of the plurality of users, and where the user is identified to determine funds available to the user in the account selected by the user, and wherein the secure registry is programmed to generate an enablement signal authorizing the financial transaction where the funds available to the user are acceptable.