Financial transaction system

Abstract

A system and method for conducting a financial transaction is disclosed. The system includes a first memory location embedded in a personal portable device. The first memory location stores a plurality of personal financial data files associated with a user. The system also includes a second memory location to store biometric information and a first input interface to receive authentication information after initiation of a purchase transaction session. The system also includes a security module including an input coupled to the first interface to authenticate the authentication information based on the biometric information and an output interface comprising an input coupled to the first memory location and an output to provide personal financial data file information to a host device.

What is claimed is: 
     
         1 .- 20 . (canceled) 
     
     
         21 . A method comprising:
 at a personal portable device:
 transitioning from an inactive mode to an active mode in response to a start signal received from a host system to initiate a financial transaction; 
 while in the active mode:
 authenticating biometric information, and 
 communicating one or more financial account data records to the host system to conduct the financial transaction; and 
 
 transitioning from the active mode back to the inactive mode after the financial transaction is completed. 
   
     
     
         22 . The method of  claim 21 , wherein the biometric information is received from and collected by the host system. 
     
     
         23 . The method of  claim 21 , wherein authenticating the biometric information further comprising:
 comparing the biometric information with biometric information stored at the personal portable device.   
     
     
         24 . The method of  claim 23 , wherein the one or more financial account data records are communicated to the host system after a successful comparison of the biometric information. 
     
     
         25 . The method of  claim 21 , wherein the biometric information is received from the host system wirelessly in accordance with a wireless protocol supported by the personal portable device. 
     
     
         26 . The method of  claim 21 , wherein the one or more financial data records are encrypted. 
     
     
         27 . The method of  claim 21 , further comprising:
 communicating information identifying a plurality of available financial account data records to the host system, and   receiving, from the host system, a request for the one or more financial account data records of the plurality of available financial account data records, wherein the one or more financial account data records are communicated to the host system in response to the request.   
     
     
         28 . A method comprising:
 at a host system:   communicating an activation signal to a personal portable device to initiate a financial transaction, wherein the activation signal causes the personal portable device to transition from an inactive mode to an active mode;   while the personal portable device is in the active mode:
 communicating biometric information to the personal portable device, and 
 receiving one or more financial account data records from the personal portable device to conduct the financial transaction; and 
   communicating a termination signal to the personal portable device indicating completion of the financial transaction, wherein the termination signal causes the personal portable device to transition from the active mode back to the inactive mode.   
     
     
         29 . The method of  claim 28 , wherein the biometric information is collected at the host system and is communicated to the personal portable device wirelessly. 
     
     
         30 . The method of  claim 29 , further comprising:
 detecting a wireless protocol supported by the personal portable device, wherein the biometric information is communicated in accordance with the wireless protocol.   
     
     
         31 . The method of  claim 28 , further comprising:
 detecting a presence of the personal portable device.   
     
     
         32 . The method of  claim 31 , wherein detecting the presence further comprises:
 periodically providing a wireless query to determine whether the personal portable device is within range.   
     
     
         33 . The method of  claim 28 , further comprising:
 receiving information identifying a plurality of available financial account data records from the personal portable device, wherein the information is received after the biometric information has been authenticated at the personal portable device.   
     
     
         34 . The method of  claim 33 , further comprising:
 communicating, to the personal portable device, a request for the one or more financial account data records of the plurality of available financial account data records, wherein the one or more financial account data records are received in response to the request.   
     
     
         35 . A personal portable device comprising:
 a memory to store one or more financial account data records and to store biometric information;   an input interface to:
 receive a start signal from a host system to initiate a financial transaction, wherein the start signal causes the personal portable device to transition from an inactive mode to an active mode; 
   a security module to authenticate biometric information while the personal portable device is in the active mode; and   an output interface to:
 communicate one or more financial data records to the host system to conduct the financial transaction while the personal portable device is in the active mode, and 
 receive a termination signal from the host system to indicate completion of the financial transaction, wherein the termination signal causes the personal portable device to transition back from the active mode to the inactive mode. 
   
     
     
         36 . The personal portable device of  claim 35 , wherein the input interface is further configured to:
 receive, from the host system, the biometric information collected by the host system while the personal portable device is in the active mode.   
     
     
         37 . The personal portable device of  claim 35 , wherein the biometric information is authenticated by comparing the biometric information with biometric information stored at the personal portable device. 
     
     
         38 . The personal portable device of  claim 37 , wherein the one or more financial account data records are communicated to the host system after a successful comparison of the biometric information. 
     
     
         39 . The personal portable device of  claim 35 , wherein the biometric information is received from the host system wirelessly. 
     
     
         40 . The personal portable device of  claim 39 , wherein the biometric information is received in accordance with a wireless protocol supported by the personal portable device.