Electronic wallet ready to pay timer
View Patent ↗A mobile device having a time controlled electronic wallet is disclosed. The mobile device comprises a processor and an electronic wallet application that executes on the processor. The electronic wallet application enters a ready-to-pay mode, initiates a ready-to-pay timer when entering the ready-to-pay mode, transmits the confidential information when in the ready-to-pay mode based on receiving contactless communication, and leaves the ready-to-pay mode when the ready-to-pay timer expires.
1. A method of completing a payment from an electronic wallet, comprising:
the electronic wallet entering a ready-to-pay electronic wallet mode of operation;
starting a ready-to-pay timer based on entering the ready-to-pay electronic wallet mode of operation;
the electronic wallet leaving the ready-to-pay electronic wallet mode of operation when the ready-to-pay timer expires, wherein the ready-to-pay timer expires after a variable time duration determined based on at least one of a plurality of contexts of the electronic wallet, and wherein at least some of the plurality of contexts of the electronic wallet are associated with a different variable time duration;
the electronic wallet receiving payment transaction messages; and
the electronic wallet transmitting payment information in response to receiving the payment transaction messages if the electronic wallet is in the ready-to-pay electronic wallet mode of operation.
2. The method of claim 1 , wherein the ready-to-pay timer expires after about two minutes.
3. The method of claim 1 , further including extending the ready-to-pay timer for a pre-determined time duration in response to receiving an extension input.
4. The method of claim 1 , wherein the context includes at least one of a day of the week, a time of day, a date, a number of items to be purchased, and a retail location.
5. The method of claim 1 , wherein the ready-to-pay timer expires after a user configured time duration.
6. The method of claim 1 , further comprising:
the electronic wallet receiving a payment transaction complete message and
the electronic wallet leaving the ready-to-pay electronic wallet mode of operation based on receiving the payment transaction complete message.
7. A method of reducing identity theft, comprising:
opening an electronic wallet;
transmitting payment information from the electronic wallet to complete an authorized payment transaction;
accumulating a first time based on opening the electronic wallet;
closing the electronic wallet after the accumulating first time exceeds a first limit, wherein the first limit expires after a variable time duration determined based on at least one of a plurality of contexts of the electronic wallet;
accumulating a second time in response to the accumulating first time exceeding the first limit; and
reopening the electronic wallet when the accumulating second time is less than a second limit and an electronic wallet fast open input is received.
8. The method of claim 7 , further including closing the electronic wallet in response to receiving a user command.
9. The method of claim 7 , further comprising:
receiving a payment completed message; and
closing the electronic wallet in response to receiving the payment completed message.
10. The method of claim 7 , wherein the payment information is associated with one of a credit card, a debit card, a transit card, a gift card, a coupon, and a gas card.
11. The method of claim 7 , wherein the electronic wallet is contained in one of a mobile phone, a personal digital assistant, and a media player.
12. A method of reducing identity theft, comprising:
opening an electronic wallet;
transmitting payment information from the electronic wallet to complete an authorized payment transaction;
accumulating a first time based on opening the electronic wallet;
closing the electronic wallet after the accumulating first time exceeds a first limit;
accumulating a second time in response to the accumulating first time exceeding the first limit; and
reopening the electronic wallet when the accumulating second time is less than a second limit and an electronic wallet fast open input is received, wherein the second limit expires after a variable time duration determined based on at least one of a plurality of contexts of the electronic wallet.
13. The method of claim 1 , wherein the variable time duration is one of a plurality of variable time durations, each of the plurality of variable time durations associated with at least one different context of the plurality of contexts of the electronic wallet.