DESC:FIELD OF INVENTION
[001] The field of invention generally relates to wearable devices for performing secure transactions at terminals; and more specifically, it relates to wristwatches for performing transactions at terminals.

BACKGROUND
[002] Access to internet and availability of digital devices with internet connectivity has led to a sudden rise in digital payments. Performing payments for any business transaction has become easier and quicker with the use of digital modes of payments. With majority of people and entities coming under the purview of banking services, digital payments have become the norm. Further, with the implementation of mandatory digital payment policy for transactions over and above a certain limit, the demand for instruments enabling digital payments is soaring.
[003] A major chunk of the digital payments is performed by usage of credit and debit cards in conjunction with a payment terminal or Point of Sale (PoS) machine. This requires a user to always carry a credit or debit card. Payments cannot be performed in case of unavailability of the credit or debit card, thus, hampering the business activity. Further, credit or debit cards are prone to misuse as they are vulnerable to fraudulent techniques such as skimming, card skimming, and shoulder surfing used by criminals. Furthermore, existing digital payment methods that involve a debit or credit card require the debit or credit card to be swiped or inserted into a PoS machine, then followed by entering the transaction details and amount of transaction by an operator, and finally authorizing the payment by the owner of the credit or debit card. The said process of performing payment requires at least 3 to 5 minutes per transaction and further depends on the efficiency of the operator present at the PoS machine. Thus, said transaction time will result in delays and long queues at supermarkets, shopping centers, fuel stations, toll booths, and other places where such digital transaction facilities are available.
[004] Some other systems have tried to provide autonomous payment modules, however, their large and bulky size was inconvenient and difficult to integrate into various products.
[005] Thus, in light of the above discussion, it is implied that there is a need for a wearable device that enables payment transactions at a much faster pace in comparison with existing methods. Further, there exists also a need for a payment device that does not require a physical debit or credit card for payment. Further, there is also scope for wearable devices and methods that are reliable and does not suffer from the problems discussed above.

OBJECT OF INVENTION
[006] The principle object of this invention is to provide a wearable device for enabling easy and quick payment transactions.
[007] Another object of the invention is to provide a watch for payment transaction that overcomes the requirement of a physical debit or credit card for payment.
[008] Another object of the invention is to provide a watch with a tap and pay arrangement.
[009] Yet another object of the invention is to provide a watch capable of payment transaction when used in combination with a terminal or a PoS device.
[0010] Yet another object of the invention is to provide a method for payment through a wearable device configured with tap and pay arrangement.

DESCRIPTION OF FIGURES
[0011] This invention is illustrated in the accompanying drawings, throughout which, like reference letters indicate corresponding parts in the various figures.
[0012] The embodiments herein will be better understood from the following description with reference to the drawings, in which:
[0013] Figure 1 depicts/illustrates a block diagram illustrating a system comprising a watch for payment transaction, in accordance with the invention.
[0014] Figure 2 depicts/illustrates a layout of components comprised within the watch for payment transaction, in accordance with a preferred embodiment of the invention.
[0015] Figure 3 depicts/illustrates components of the watch in accordance with the invention.
[0016] Figure 4 depicts/illustrates a method for performing a payment transaction with the watch in accordance with the invention.

STATEMENT OF INVENTION
[0017] The present invention discloses a watch for performing transactions at a terminal. The watch comprises a time keeping unit, a chip, and an antenna unit.
[0018] The antenna unit comprises a supporting base and a loop antenna. The supporting base is a circular ring with a top face and a bottom face. A loop antenna and the chip are attached to the top face and the bottom face of the antenna unit respectively. The supporting base is preferably made from an RF grade PVC. The loop antenna is made of 100-micron copper wire, wherein a high precision gap is maintained between each loop. The high precision gap enables accurate RF and QF tuning.
[0019] The antenna unit is configured for enabling radio frequency (RF) communication between the chip and the terminal. In an embodiment, the RF communication signal is in a range of 12MHz to 14MHz. The chip comprises one or more of user information, financial details, and any other information required to perform a transaction.
[0020] In a preferred embodiment, the form factor of an assembly comprising the chip and the antenna unit is in a range of 760 – 800 microns.
[0021] In an embodiment, the RF communication signal frequency and the form factor may vary based on the user requirements and chip manufacturers.
[0022] Transactions in the present invention include one or more of payment transactions, access controls for academic, professional and residential spaces, fare collection, and maintenance of records. A transaction chip may be used in the contactless transaction module to achieve these functions.

DETAILED DESCRIPTION
[0023] The embodiments herein and the various features and advantageous details thereof are explained more fully with reference to the non-limiting embodiments that are illustrated in the accompanying drawings and/or detailed in the following description. Descriptions of well-known components and processing techniques are omitted so as to not unnecessarily obscure the embodiments herein. The examples used herein are intended merely to facilitate an understanding of ways in which the embodiments herein may be practiced and to further enable those of skill in the art to practice the embodiments herein. Accordingly, the examples should not be construed as limiting the scope of the embodiments herein.
[0024] The present invention discloses, by way of an illustrative embodiment, a watch for performing transactions at a terminal. The watch comprises a time keeping unit, a chip, and an antenna unit. The antenna unit comprises a supporting base and a loop antenna. The supporting base is a circular ring with a top face and a bottom face. The loop antenna and the chip are attached to the top face and the bottom face of the antenna unit respectively. The supporting base is preferably made out of an RF grade PVC. The loop antenna is made of 100 micron copper wire, wherein a high precision gap is maintained between each loop. The high precision gap enables accurate RF and QF tuning. The antenna unit is configured for enabling radio frequency (RF) communication between the chip and the transaction terminal. The RF communication signal is in a range of 12MHz to 14MHz. The chip comprises one or more of user identity information, bank account details, and any other information required to perform a transaction. In a preferred embodiment, the form factor of an assembly comprising the chip, the antenna unit, and the supporting base is in a range of 760– 800 microns.
[0025] Hereinafter, the watch for transaction can comprise and also be referred to as a watch, a wristwatch, a tap and pay watch, or a wearable device for payment transaction throughout the description.
[0026] The present invention further discloses a method for performing transactions with the watch for payment transaction in accordance with the invention. The method comprises initiating a transaction request from a terminal to a watch or a card. The method further comprises tapping or nearing the watch to the terminal for authorizing the transaction request. The method further comprises authenticating the transaction request by using a bank server. The method further comprises processing the transaction request through the bank server. The method finally comprises closing the transaction request as a successful transaction request.
[0027] In the present invention, the transaction may include/enable one or more of payment transactions, access and exit control for rooms, buildings, campus, fees and fares collection, attendance, payroll verification, reservations, sales, shipping, manufacturing and other such records. A transaction chip may be used in the contactless transaction module, which can be used to complete the above-mentioned transactions by providing appropriate functionalities based on the required application of the contactless transaction module.
[0028] Referring now to the drawings, where similar reference characters denote corresponding features consistently throughout the figures, there are shown preferred embodiments.
[0029] Figure 1 depicts/illustrates a block diagram of a transaction system 100 comprising a watch 102 in accordance with the invention. The watch 102 can initiate communication with one or more terminals 104. The terminal 104 can communicate with a bank server 108 via communication 106.
[0030] In an embodiment, the watch 102 can comprise one or more details related to a particular user, such as their personal details and their financial details. When the watch 102 detects a transaction request signal shared by a terminal 104 for initiating a transaction, the watch accesses the stored financial data and enables or accepts the transaction request signal shared by the terminal 104. The watch 102 can accept the transaction request either when the user takes the watch 102 in the proximity of the terminal 104, or when the user taps the watch 102 against a particular payment section of the terminal 104. Thus, after receiving a payment acknowledgement from the watch 102, the terminal 104 communicates with one or more bank servers 108 to complete the transaction.
[0031] In an embodiment, the communication 106 between the terminal 104 and the bank server 108 may be through a network, wherein the network may be a wired communication network or a wireless communication network. Such wired or wireless communication can be implemented by using standard protocols known in the art. The wired communication can be carried out by any of the network configurations such as LAN (Local Area Network), WAN (Wide Area Network), etc. The wireless communication can be done through a Mobile Service Provider (MSP) and/or an Internet Service Provider (ISP) with standard protocols such as but not limited to Bluetooth, Wi-Fi, ZigBee, LORA, RF wireless technology, MODBUS, Profibus, Z Bus, Z- Wave, LTE, TCP/IP, HTTP, FTP, UDP, IPV4, IPV6 etc. The topology of the network may be a bus topology, ring topology, star topology, tree topology or a mesh topology.
[0032] The watch 102 is preferably a mechanical movement watch or an analog watch. Further, the watch 102 can also be one or more of a digital watch, hybrid watch, tactile watch, touchscreen watch, quartz watch, smart watch, mechanical automatic watch, kinetic watch, chronometer watch, spring drive watch, solar watch, lithium-ion watch, dive watch, pilot watch, field watch, navigation watch and tool watch.
[0033] The terminal 104 is one or more of Point of Sale (PoS) machine, cash machine, contactless payment point, credit card terminal, debit card terminal, billing point in a shopping center, check out point in a supermarket, payment point in a grocery store, toll collection booth in highways, expressways or access controlled roads, and the like. In an embodiment, the watch 102 can communicate with multiple terminals 104 as well as other terminals and external servers, in order to accomplish the above-mentioned transactions.
[0034] The bank server 108 is a bank or merchant services provider for authorizing payments through the watch 102. A merchant service provider or a bank refers to merchant processing services that enable a business to accept a transaction payment through a secure (encrypted) channel using the customer's credit card or debit card or NFC/RFID enabled device. A merchant service provider can be one or more of a credit and debit cards payment processing services provider, check guarantee and check conversion services provider, an automated clearing house check drafting and payment services provider, gift card and loyalty programs managing agency, payment gateway services provider, merchant cash advances provider, online transaction processing agency, Point of sale (POS) systems services provider, electronic benefit transfer programs agency, and entities providing ration stamps and food stamps.
[0035] As aforementioned in the foregoing description, transactions, in the present invention, may include one or more of payment transactions, access controls for spaces, attendance and payroll verification, reservations, sales, shipping, manufacturing and other such records.
[0036] Figure 2 depicts/illustrates a layout of components 200 comprised within the watch 102 in accordance with a preferred embodiment of the invention. The watch 102 comprises a time keeping unit 202, a chip 204, and an antenna unit 206. The time keeping unit 202 of the watch 102 is a mechanism that drives hands on the watch 102 face.
[0037] In an embodiment, the time keeping unit 202 is one or more of a quartz movement mechanism, mechanical movement mechanism, and automatic movement mechanism. The quartz movement mechanism is powered by a battery and causes a second hand of the watch 102 to move in individual ticks. The mechanical movement mechanism causes the second hand of the watch 102 to move in a smooth sweeping motion and requires manual winding to operate. The automatic movement mechanism harnesses kinetic energy from the wearer's wrist to drive the mechanism inside the watch 102. The chip 204 and the antenna unit 206 are in communication with each other.
[0038] In an embodiment, the antenna unit 206 comprises a supporting base and a loop antenna (not shown in the figure). The supporting base is a circular ring with a top face and a bottom face. The loop antenna and the chip 204 are attached to the top face and the bottom face respectively. The loop antenna and the chip 204 are preferably attached to the top face and the bottom face by use of an adhesive. The supporting base is preferably made from plastics such as an RF grade PVC.
[0039] In an embodiment, the loop antenna is made of 100-micron copper wire, wherein a high precision gap is maintained between each loop. The high precision gap enables accurate RF (Radio Frequency) and QF (Quality Factor) tuning. The loop antenna comprised within the antenna unit 206 is configured to enable radio frequency (RF) communication between the chip 204 and a terminal 104 (not shown in the figure), wherein the RF communication is in a range of 12MHz to 14MHz.
[0040] In an embodiment, the RF communication signal frequency range and the form factor may vary based on the user requirements and chip manufacturers.
[0041] In an embodiment, the RF communication signal frequency range may vary based on requirements of different chips from different chip manufacturers. The RF communication signal frequency range is as per the range of the required acceptable standards prescribed, and may be varied based on the acceptable standards. All such variations are deemed to be covered within the scope of this invention.
[0042] In an embodiment, the chip 204 is configured to enable transactions with the terminal 104. The chip 204 preferably contains information regarding one or more of user identity information, credit details, debit card details, gift card details, store card details, loyalty card details, digital currency card details, stored value card details, fleet card details, bank account details and any other information required to perform a transaction.
[0043] In a preferred embodiment, the form factor of an assembly comprising the chip 204 and the antenna unit 206 is in a range of 760 – 800 microns. Hence, incorporation of said assembly into existing watch models is easier and does not require substantial modification in interior construction of the watch models. In a preferred embodiment, the chip 204 and the antenna unit 206 is powered by a false terminal.
[0044] Figure 3 depicts/illustrates the components of a watch 102. The watch 102 comprises a top surface 302 and a bottom cap 310 wherein the top surface 302 is the visible face of the watch 102 that allows a user to view time and other information displayed on a dial 304 of the watch. The materials used for making the top surface comprise one or more of glass, mineral glass, plexiglass, plastic, and synthetic sapphire, among others. The bottom cap 310 is preferably made with one or more of metal, glass and plastic. The bottom cap 310 protects the internal components of the watch from dust, dirt, moisture and damage, wherein the bottom cap 310 maybe formed of metal or plastic alloys, including one or more of stainless steel, titanium, any precious metal such as gold, silver or platinum, plastic etc.
[0045] In an embodiment, the dial 304 is positioned below the top surface 302. The dial 304 is preferably made of plate or base material such as brass, copper or zinc alloy etc. The shape of the dial 304 maybe a square, circle, rectangle or any other shape known in the prior art. The dial 304 preferably contains numbers, indexes, date, and the like. In a preferred embodiment, the dial 304 may have surface designs etched over it. The antenna unit 206 is positioned below the dial 304 and above the insulator 306. The placement of the insulator 306 is such that the operation of the antenna unit 206 is not affected or obstructed by the time keeping unit 202. The antenna unit 206 is placed above or below the insulator 306 to ensure that the RF communication of the antenna unit 206 remains uninterrupted by the time keeping unit 202. The PMH 308 is positioned below the insulator 306 and acts as a housing unit to house the inner modules of the watch 102. The time keeping unit 202 is positioned above the bottom cap 310 and below the PMH 308.
[0046] In an embodiment, a ferrite layer may be used as the insulator 306.
[0047] Figure 4 depicts/illustrates a method 400 for performing payment with the watch 102 in accordance with the invention. The method 400 comprises initiating a payment request from a terminal to a watch or a card, as depicted at step 402. The method 400 further comprises tapping or nearing the watch to the terminal for authorizing the transaction request, as depicted at step 404. The method 400 further comprises authenticating the transaction request through a bank server, as depicted at step 406. The method 400 further comprises processing the transaction request through the bank server, as depicted at step 408. The method 400 finally comprises closing the transaction request as a successful transaction request through the bank server, as depicted at step 410.
[0048] In an exemplary embodiment, a transaction is performed as follows. A customer or a user using the watch 102 taps the watch 102 on to the terminal 104. Information required for initiating the transaction is transmitted from the chip 204 to the terminal 104 via the antenna unit 206. The terminal 104 may or may not require a PIN (Personal Identification Number) or OTP (One Time Password) authentication based on transaction limit set by the bank server 108. The bank server 108 authenticates and processes the transaction request. On authentication and processing of transaction request by the bank server 108, money is deducted from the user’s bank account and deposited into the merchant’s bank account. Finally, the transaction request is closed as a successful transaction by the bank server 108.
[0049] In a preferred embodiment, the watch 102 may be configured with security measures in the chip 204 comprising an additional layer of security such as a passcode to unlock watch 102 for payment. Additional layers of security can also be included, comprising one or more features such as user’s facial recognition, iris scan, fingerprint scan and the like. The watch 102 may also be configured such that the watch 102 can be unlocked for payment by usage of the user’s phone.
[0050] The current invention includes the following advantages. The watch 102 and the payment method 400 disclosed in the current invention provide a convenient alternative to cash, Chip and PIN card mode of transactions. Adoption of payment method 400 disclosed in the current invention results in substantial reduction of time required to make a payment. Thus, usage of the watch results in a reduction of the length of users at check-out queues at toll booths, shopping centers, supermarkets, retail facilities, and the like. Further, the watch eliminates the requirement of manpower for operation of the terminal 104 since the watch enables payment which is automatic, efficient and seamless. The current invention eliminates the need of carrying physical debit/credit cards and the like and provides a hands-free payment experience to users.
[0051] Additionally, the present invention can be easily used in different applications where the aforementioned scope of ‘transactions’ may be utilized. The present invention can be used for maintenance of records for attendance, and payroll. This system may also be used for fare collection, fee collections, in the shipping industry, in delivery industry. This system may also be used to permit and control access to professional, academic and residential spaces. Additionally, the system in the present invention may also be used to maintain manufacturing records, sales and reservations.
[0052] The foregoing description of the specific embodiments will so fully reveal the general nature of the embodiments herein that others can, by applying current knowledge, readily modify and/or adapt for various applications such specific embodiments without departing from the generic concept, and, therefore, such adaptations and modifications should and are intended to be comprehended within the meaning and range of equivalents of the disclosed embodiments. It is to be understood that the phraseology or terminology employed herein is for the purpose of description and not of limitation. Therefore, while the embodiments herein have been described in terms of preferred embodiments, those skilled in the art will recognize that the embodiments herein can be practiced with modification within the scope of the embodiments as described here.
,CLAIMS:We claim:
1. A wearable watch 102 for enabling transactions, the wearable watch 102 comprising:
at least one time-keeping unit 202;
at least one antenna unit 206, wherein the at least one antenna unit 206 comprises:
a supporting base; and
at least one loop antenna attached to the supporting base; and
at least one chip 204 attached to a top face of the supporting base, wherein the chip 204 is configured to enable transactions through the wearable watch 102 by communicating with a terminal 104.

2. The wearable watch 102 as claimed in claim 1, wherein the antenna unit 206 is in a range of 700 – 900 microns.

3. The wearable watch 102 as claimed in claim 1, wherein a high precision gap is maintained between each loop in the loop antenna for accurate RF and QF tuning.

4. The wearable watch 102 as claimed in claim 1, wherein the loop antenna is configured to enable radio frequency (RF) communication between the chip 204 and the terminal 104 in a range of 12MHz to 14MHz.

5. The wearable watch 102 as claimed in claim 1, wherein the wearable watch 102 detects a transaction request signal shared by a terminal 104 for initiating a transaction through the antenna unit 206, and wherein the wearable watch 102 accepts the transaction request in case the wearable watch 102 is brought into the proximity of the terminal 104 or in case the wearable watch 102 is tapped against a transaction section of the terminal 104.

6. The wearable watch 102 as claimed in claim 1, wherein the antenna unit 206 is positioned below a dial 304 and above an insulator 306 in the wearable watch 102.

7. A method of enabling transactions using a wearable watch 102, the method comprising:
initiating a transaction request from a terminal 104 to one or more of the wearable watch 102 and a card;
detecting a transaction request signal shared by a terminal 104 for initiating a transaction;
accepting the request by nearing/tapping the wearable watch 102 to/on the terminal 104;
authenticating the transaction request through a bank server;
processing the transaction request through the bank server; and
closing the transaction request through the bank server.

8. A method of manufacturing a wearable watch 102, wherein the method comprises:
positioning an antenna unit 206 below a dial 304 and above an insulator 306 in the wearable watch 102;
attaching a loop antenna and a chip 204 to a top face and a bottom face of a supporting base;
maintaining a high-precision gal between each antenna loop for RF and QF tuning; and
communicating information from a chip 204 on the wearable watch 102, to a terminal 104, through the antenna unit 206.

9. The method of manufacture of the wearable watch 102 as claimed in claim 8, wherein the antenna unit 206 is in a range of 700 – 900 microns.

10. The method of manufacture of the wearable watch 102 as claimed in claim 8, wherein a high precision gap is maintained between each loop in the loop antenna for accurate RF and QF tuning.

11. The method of manufacture of the wearable watch 102 as claimed in claim 8, wherein the loop antenna is configured to enable radio frequency (RF) communication between the chip 204 and the terminal 104 in a range of 12 MHz to 14 MHz.

12. A method for enabling transactions using a wearable watch 102, the method comprising:
receiving a transaction request from a terminal 104 at the wearable watch 102;
detecting a transaction request signal shared by a terminal 104 for initiating a transaction;
accepting the transaction request by nearing/tapping the wearable watch 102 to/on the terminal 104;
authenticating the transaction request through a bank server;
processing the transaction request through the bank server; and
closing the transaction request through the bank server.