System and method for providing smart electronic wallet and reconfigurable transaction card thereof

Abstract

A smart electronic wallet with reconfigurable multiple-account transaction card is provided. The system and method provide measures for storing a plurality of account identifiers from a plurality of traditional single-use transaction cards into a storage memory in a smart wallet. The system and method also provide for storing a reconfigurable multiple-account transaction card within the smart electronic wallet and allowing for it to be dynamically and selectively reconfigured for any one of the plurality of account identifiers stored within the smart electronic wallet. Additionally, a consumer is able to initiate a transfer or trade of transaction cards across different smart electronic wallet devices.

What is claimed is: 
     
         1 . A reconfigurable transaction proxy card selectively encoding at least one of a plurality of account identifiers for emulating a wallet and account-bearing transactional cards, comprising:
 a substrate;   a transaction-terminal interface unit disposed in said substrate and selectively encoding at least an account identifier corresponding to at least one of a plurality of predetermined account-bearing transaction cards, said transaction-terminal interface unit being thereby readable in substantially identical manner as selected ones of the predetermined account-bearing transaction cards;   a storage memory disposed in said substrate, said storage memory storing at least a secondary account information related to the account identifier;   a controller disposed in said substrate and coupled to said storage memory, said controller selectively retrieving at least the secondary account information related to the account identifier from said storage memory; and,   an electronic display disposed on said substrate and coupled to said controller and said storage memory for displaying said retrieved secondary account information relating to said account identifier corresponding to a predetermined account-bearing transaction card encoded on said transaction-terminal interface unit.   
     
     
         2 . The reconfigurable transaction proxy card selectively encoding at least one of a plurality of account identifiers for emulating a wallet and account-bearing transactional cards as recited in  claim 1 , wherein said transaction-terminal interface unit includes a passive re-writable magnetic strip having at least one account identifier encoded thereon. 
     
     
         3 . The reconfigurable transaction proxy card selectively encoding at least one of a plurality of account identifiers for emulating a wallet and account-bearing transactional card as recited in  claim 1 , wherein said transaction-terminal interface unit includes an inductive portion coupled to said controller, said inductive portion being selectively energized to encode an account identifier stored in said storage memory, said transaction proxy card being thereby readable in substantially identical manner as selected ones of the predetermined account-bearing transaction cards. 
     
     
         4 . The reconfigurable transaction card as recited in  claim 1 , wherein said reconfigurable transaction proxy card further includes a user authentication unit selectively disabling said reconfigurable transaction proxy card responsive to detection of an unauthorized user. 
     
     
         5 . A method for electronically emulating a physical transfer of transaction cards across an online enterprise, comprising:
 establishing a smart wallet including:
 a card interface unit configured to read and write contents of transaction cards; 
 a storage memory coupled to said card interface unit, said storage memory configured to store a first account token captured from at least one of a plurality of transaction cards and a second account token to be written to a reconfigurable transaction proxy card; and, 
 a network communications unit coupled to said storage memory; 
   capturing the first account token from a first transaction card via said card interface unit into said storage memory;   transmitting the first account token to an external enterprise via said network communication unit;   receiving the second account token from the external enterprise via said network communication unit; and,   actuating said card interface unit to write the second account token onto a reconfigurable transaction proxy card, said reconfigurable transaction proxy card being thereby readable in substantially identical manner as selected ones of the plurality of transaction cards.   
     
     
         6 . The method for electronically emulating a physical transfer of transaction cards across an online enterprise as recited in  claim 5 , further comprising actuating said card interface unit to modify at least one portion of a magnetic strip of the first transaction card to thereby render the first transaction card unredeemable. 
     
     
         7 . The method for electronically emulating a physical transfer of transaction cards across an online enterprise as recited in  claim 5 , wherein the first transaction card is rendered unredeemable by encoding a faulty checksum value onto the first transaction card. 
     
     
         8 . The method for electronically emulating a physical transfer of transaction cards across an online enterprise as recited in  claim 5 , wherein the first transaction card is rendered unredeemable by erasing the first transaction card. 
     
     
         9 . The method for electronically emulating a physical transfer of transaction cards across an online enterprise as recited in  claim 5 , further comprising rendering the first account token in said storage memory as unredeemable and confirming the transfer with the external enterprise via said network communication unit.