System, method, article of manufacture of mixed reality based, biometrically signed reusable physical financial instrument

Patent metadata

Field	Value
Publication number	US-10713650-B2
Application number	US-201615367918-A
Country	US
Kind code	B2
Filing date	Dec 2, 2016
Priority date	Mar 20, 2013
Publication date	Jul 14, 2020
Grant date	Jul 14, 2020

Abstract

The present invention relates to a reusable physical financial instrument and a system and a method for enabling the financial instrument to perform multiple financial transactions. The financial instrument is capable of creating mixed reality experience when it comes in vicinity of the payor or payee device or ATM. Through the created mixed reality experience, the payor and the payee inputs payor-side and payee-side transaction and biometric data which are stored onto smart chip of the instrument and/or on Cloud Storage using cloud computing interface. The stored payor-side and payee-side transaction data are cross-validated and their biometric data is further verified against golden copy at the respective financial institutions or at the Central Authority's repositories for performing the financial transaction. Upon completing the transaction, the payor-side and the payee-side data is erased, deleted or invalidated from the smart chip, thus making the financial instrument reusable for performing another transaction.

First claim

We claim:

1. A financial instrument for facilitating financial transactions, the financial instrument comprises:
a smart chip, embedded within the financial instrument, capable of establishing a wireless communication, wherein the smart chip is configured to store payor-side transaction data, payor-side biometric data, payee-side transaction data, and payee-side biometric data;
a fiduciary marker attached on a surface of the financial instrument, wherein the fiduciary marker is configured for creating a mixed reality experience for payor and a payee, wherein the mixed reality experience is created to transfer the payor-side transaction data extracted from the financial instrument of the payor to the financial instrument associated with the payee and the transaction data is populated on the financial instrument associated with the payee through the created mixed reality experience; and
at least one of visible indicia and invisible indicia present on the financial instrument.

2. The financial instrument of claim 1 further comprises an antenna, input means, display means, authentication means, a speaker, a microcontroller with embedded memory, and a rechargeable battery.

3. The financial instrument of claim 1 , wherein the smart chip is having re-writable storage configured for establishing a wireless communication for the financial instrument with payor's device and payee's device, wherein the payor device and the payee device comprises at least one a phone, a laptop, an iPad, a personal computer, a workstation, and an automated teller machine (ATM) or kiosk.

4. The financial instrument of claim 1 , wherein the financial instrument is in a form of at least one of:
a rigid metal with a unique clinging sound, wherein the clinging sound is audibly distinguishable to the payor or the payee in relative to a clinging sound associated with an another financial instrument;
a thin stamp or a sticker having a watermark which is structured in such a way that makes the financial instrument unique in relative to another watermark based stamp or sticker like financial instruments; and
a token, a card, a disc, a jeton, a paper, a film, a plastic, a polymer, a glass and a coin.

Assignees

• Tata Consultancy Services Ltd

Inventors

• Thomas Annie
• Garg Shalin
• Vallat Sathish

Classifications

• G06Q20/40145 Primary

  Biometric identity checks · CPC title

• G07F7/0833

  Card having specific functional components · CPC title

• G07F19/20

  Automatic teller machines [ATMs] · CPC title

• G06Q20/3563 Primary

  Software being resident on card · CPC title

• G07F19/204

  Loading of a stored value token using an ATM · CPC title