Wearable device with unique user ID and telemetry system for payments

1 . A method for using telemetry data and a wearable device, comprising:

transmitting a communication from a wearable device, the wearable device belong to a first party and having a first party unique ID, the communication including the first party unique ID, the wearable device including an ID storage and a communication system that reads and transmits the unique ID from the ID storage;

receiving the communication from the wearable device at a telemetry system;

confirming the unique first party ID at the telemetry system;

communicating between the telemetry system and at least one of, a mobile device, a first party's financial account, a payment system and a network system, the payment system being a non-affiliate of the first party's financial account;

in response to confirming the unique first party's ID at the telemetry system transferring funds from a first party's financial account to a second party through at least one of the, mobile device, first party's financial account, payment system and network system.

2 . The method of claim 1 , further comprising:

communicating between the wearable device with a mobile device, a computer or the a network system; and

communicating between the mobile device, a computer or a network system with the payment system.

3 . The method of claim 1 , wherein the payment system is non-affiliated with the user's financial account.

4 . The method of claim 1 , further comprising:

using an interaction engine in communication with the wearable device to take input of information related to a transfer of funds from the wearable device users' financial account as input to the transaction engine to initiate and complete a financial transaction.

5 . The method of claim 4 , wherein the input to the interaction engine includes at least one of, an amount of a transaction, additional items related to the transaction, authorization and a signature of the wearable device user.

6 . The method of claim 1 ,

using a mobile device, a computer or the payment system that receives information from the wearable device which includes the unique ID of the user.

7 . The method of claim 4 , further comprising:

using the interaction engine to present products or services to or through the telemetry system, a mobile device or computer to the wearable device user.

8 . The method of claim 1 , further comprising:

using the wearable device user to be in communication with a device or system that enables the wearable device user to perform at least one of, view, text and send audio.

9 . The method of claim 1 , further comprising:

using the wearable device to perform at least one of view, text and send audio.

10 . The method of claim 4 , further comprising:

using the interaction engine to communicate with a transaction engine.

11 . The method of claim 10 , further comprising:

communicating between the transaction engine and a decoding engine.

12 . The method of claim 4 , wherein the transaction engine in operation contacts the payment service or the wearable device users' financial account.

13 . The method of claim 1 , further comprising:

using the wearable device to communicate with at least one of, a user database, a transaction database and a product database.

14 . The method of claim 13 , wherein the user database, transaction database and product database are internal or external to the payment system.

15 . The method of claim 4 , wherein in operation the transaction engine does not have the financial account or financial card information of the wearable device user that is doing the transfer.

16 . The method of claim 4 , wherein the transaction engine retains only selected information of the wearable device user's financial account or a user's financial transaction card.

17 . A system for using telemetry data, and a wearable device, comprising:

a wearable device for a first party, the wearable device including an ID circuitry including ID storage, a communication system that reads and transmits a unique first party ID of the wearable device from an ID storage, a power source and a pathway system to route signals through the ID circuitry;

a telemetry system in communication with the wearable device, the telemetry system including an ID database that in operation confirms the first party ID, the telemetry system in operation being in communication with at least one of, a mobile device, a first party's financial account, a payment system and a network system, the payment system being a non-affiliate of the first party's financial account; and

wherein in response to confirming the unique first party's ID at the telemetry system, funds from a first party's financial account can be transferred to a second party through at least one of the, mobile device, first party's financial account, payment system and network system.

18 . The system of claim 17 , further comprising:

an interaction engine coupled to the wearable device.

19 . The system of claim 18 , wherein the interaction engine is at the mobile device or the telemetry system.

20 . The system of claim 18 , wherein the interaction is selected from at least one of, an engine running on a first party mobile device, a second party mobile device and a third party mobile device.

21 . The system of claim 17 , further comprising:

a transaction engine.

22 . The system of claim 17 , wherein the transaction engine is selected from at least one of, an engine running on a first party mobile device, a second party mobile device and a third party mobile device.

23 . The system of claim 18 , wherein the interaction engine in operation communicates with the wearable device or the telemetry system to present products or services.

24 . The system of claim 21 , further comprising:

a decoding engine.

25 . The system of claim 24 , wherein the decoding engine is selected from at least one of, an engine running on a first party mobile device, a second party mobile device and a third party mobile device.

26 . The system of claim 17 , further comprising:

at least one of, a user database, a transaction database and a product database.

27 . The system of claim 26 , wherein the at least one of, the user database, the transaction database and the product database are part of the payment system.

28 . The system of claim 26 , wherein the at least one of, a user database, a transaction database and a product database are external to the payment system.