WO2019106690A2

WO2019106690A2 - Artificial intelligence (ai) driven dynamic smartcard

Info

Publication number: WO2019106690A2
Application number: PCT/IN2018/050784
Authority: WO
Inventors: Aditi SAHA; Gopal CH. SAHA; Virul KATLA; Vikash KUMAR SUKHLA
Original assignee: Bluezeal Labs Pvt. Ltd
Priority date: 2017-11-28
Filing date: 2018-11-26
Publication date: 2019-06-06
Also published as: WO2019106690A3

Abstract

Artificial Intelligence (AI) driven smartcard. Embodiments herein provide an Artificial Intelligence (AI) driven dynamic smartcard (100) having virtual cards that can be used for a purchasing transaction. The AI-driven dynamic smartcard (100) can automatically select any one of the virtual cards for the purchasing transaction at the particular location (i.e., place of purchase) based on contextual information of the past transaction. Further, the AI-driven dynamic smartcard (100) can provide a notification to user suggesting offers at the particular location for the transaction.

Description

ARTIFICIAL INTELLIGENCE (AI) DRIVEN DYNAMIC SMARTCARD

CROSS REFERENCE TO RELATED APPLICATION

This application is based on and derives the benefit of Indian Provisional Application 201721042714, filed on 28^th November, 2018, the contents of which are incorporated herein by reference.

TECHNICAL FIELD

[0001] The present disclosure relates to smartcards, and more particularly to using Artificial Intelligence (AI) in smartcards for tracking expenses/transactions of a user based on a location of the user.

BACKGROUND

[0002] Smartcards can be used to store information related to multiple electronic cards (for example, bank cards, department store cards, club membership cards, rebate cards, medical/insurance cards, a driving license, royalty cards, identity cards, access cards, National ID cards, E-passports, Boarding pass, Smart Aadhaar cards, and so on) which can be widely used for transactions (such as financial transactions (such as payment and cash advance), or non-financial transactions). The smartcards enable the user to avoid carrying multiple credit cards and bank cards, along with many other cards in wallet. The smartcards can interact with both user devices (such as tablets, phones, IoT (Internet of Things) devices, and so on) and Point-Of-Sale (POS) systems to complete transactions as specified by the user.

[0003] Consider an example scenario where a user enters a location such as a shopping mall, the user has to manually chose a payment/electronic card (such as a debit card, a credit card, and so on) on a display of the smartcard to make a purchase at the retail POS terminal. Further, if the user enters the same location next time, the user has to again manually choose the same electronic card or another electronic card for making a purchase. This can be a time consuming task for the user. Further, the user may not be aware of any discount(s) or coupon code(s) available for shopping at the location. OBJECTS

[0004] The principal object of the embodiments herein is to provide an Artificial Intelligence (Al)-driven dynamic smartcard.

[0005] Another object of the embodiments herein is to automatically select at least one virtual card from a plurality of virtual cards stored in the AI-driven dynamic smartcard, wherein the at least one virtual card can be selected based on received contextual information of at least one transaction/interaction done previously at the current determined location, reward point(s) that can be earned at the current determined location for the at least one transaction, user preferences, location preferences, and so on.

[0006] Another object of the embodiments herein is to determine whether at least any one of the plurality of virtual cards present in the AI-driven dynamic smartcard has an offer at the current determined location for the at least one transaction.

BRIEF DESCRIPTION OF FIGURES

[0007] Embodiments herein are illustrated in the accompanying drawings, throughout which like reference letters indicate corresponding parts in the various figures. The embodiments herein will be better in which:

[0008] FIG. 1 depicts a system comprising an Artificial Intelligence (AI) driven dynamic smartcard in communication with at least one electronic device, a server and a card reader, according to an embodiment as disclosed herein;

[0009] FIG. 2 is a block diagram illustrating various hardware components of the AI- driven dynamic smartcard, according to an embodiment as disclosed herein;

[0010] FIG. 3A illustrates an example top view of the AI-driven dynamic smartcard, according to embodiments as disclosed herein;

[0011] FIG. 3B illustrates an example bottom view of the AI-driven dynamic smartcard, according to embodiments as disclosed herein;

[0012] FIG. 4 is a flow diagram illustrating a method for automatically selecting at least one virtual card from a plurality of virtual cards for at least one transaction at a current determined location, according to embodiments as disclosed herein;

[0013] FIG. 5 is a flow diagram illustrating a method for determining whether at least any one of the plurality of virtual cards having a discount at the current determined location for the at least one transaction associated with the contextual information, according to embodiments as disclosed herein; and

[0014] FIG. 6 is a flow diagram illustrating a method for determining whether at least any one of the plurality of virtual cards has earned at least one reward point while performing the transaction, according to embodiments as disclosed herein.

DETAILED DESCRIPTION

[0015] 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 detailed in the following description. Descriptions of well-known components and processing techniques are omitted so as to not unnecessarily obscure the embodiments herein. Also, the various embodiments described herein are not necessarily mutually exclusive, as some embodiments can be combined with one or more other embodiments to form new embodiments. The term“or” as used herein, refers to a non-exclusive or, unless otherwise indicated. The examples used herein are intended merely to facilitate an understanding of ways in which the embodiments herein can be practiced and to further enable those skilled in the art to practice the embodiments herein. Accordingly, the examples should not be construed as limiting the scope of the embodiments herein

[0016] Embodiments herein may be described and illustrated in terms of blocks which carry out a described function or functions. These blocks, which may be referred to herein as units or modules or the like, are physically implemented by analog and/or digital circuits such as logic gates, integrated circuits, microprocessors, microcontrollers, memory circuits, passive electronic components, active electronic components, optical components, hardwired circuits and the like, and may optionally be driven by firmware and/or software. The circuits may, for example, be embodied in one or more semiconductor chips, or on substrate supports such as printed circuit boards and the like. The circuits constituting a block may be implemented by dedicated hardware, or by a processor (e.g., one or more programmed microprocessors and associated circuitry), or by a combination of dedicated hardware to perform some functions of the block and a processor to perform other functions of the block. Each block of the embodiments may be physically separated into two or more interacting and discrete blocks without departing from the scope of the disclosure. Likewise, the blocks of the embodiments may be physically combined into more complex blocks without departing from the scope of the disclosure.

[0017] Embodiments herein provide a smartcard comprising: a memory for storing a plurality of virtual cards, a location tracking unit for determining a current location of a user of the smartcard; and a controller configured for receiving contextual information of a context of at least one transaction done in past at the current determined location, and automatically selecting at least one virtual card of the plurality of virtual cards for performing the at least one transaction at the current determined location, wherein the at least one virtual card can be selected based on received contextual information of at least one transaction/interaction done previously at the current determined location, reward point(s) that can be earned at the current determined location for the at least one transaction, user preferences, location preferences, offers available at the current determined location, and so on. Embodiments herein further comprises determining whether at least any one of the plurality of virtual cards has an offer at the current determined location for the at least one transaction.

[0018] Referring now to the drawings, and more particularly to FIGS. 1 through 6, there are shown preferred embodiments.

[0019] FIG. 1 depicts a system comprising an Artificial Intelligence (AI) driven dynamic smartcard in communication with at least one electronic device, a server and a card reader, according to an embodiment as disclosed herein. Examples of the electronic device 103 can be, but not limited to, a mobile phone, a smart phone, Personal Digital Assistants (PDAs), a tablet, a wearable device, a Head Mounted display (HMD) device, an Augmented Reality (AR) devices, an Internet of things (IoT) device, and so on.

[0020] Referring to FIG. 1, the AI-driven dynamic smartcard 100 can communicate with an electronic device 103 via a communication network l02a. The communication network l02a can be a wired network or a wireless network. Examples of the communication network l02a may be, but not limited to, cellular networks, Wi-Fi, Bluetooth, Near Field Communication (NFC), Bluetooth Fow Energy (BEE), and any combination of a local area network (FAN), a wide area network (WAN) and the Internet.

[0021] Referring to FIG. 1, the AI-driven dynamic smartcard 100 can communicate with a server 104 via a communication network l02b. The communication network l02b can be a wired network or a wireless network. Examples of the communication network l02b may be, but not limited to, cellular networks, Wi-Fi, Bluetooth, Near Field Communication (NFC), Bluetooth Fow Energy (BEE), and any combination of a local area network (FAN), a wide area network (WAN) and the Internet.

[0022] In an embodiment, the AI-driven dynamic smartcard 100 can be always in a standby mode. In standby mode, all the peripherals including the controller of the Al-driven dynamic smartcard 100 are in sleep mode. The Al-driven dynamic smartcard 100 is activated on a user authenticating himself. In an embodiment herein, the user can authenticate himself using a suitable means such as biometrics (such as fingerprints, iris, palm, voice, face, and so on). In an embodiment herein, the user can authenticate himself using a username (such as a name, email address, phrase, and so on) and password (such as a user configured password, a pre-defined password, a one-time password, and so on).

[0023] Consider an example scenario where the user provides his fingerprint for authentication. The smartcard 100 can verify the finger print by comparing the finger print of the user with a pre-stored fingerprint of the user stored in the AI-driven dynamic smartcard 100.

[0024] On successfully authenticating the user, the AI-driven dynamic smartcard 100 can read a plurality of virtual cards (i.e., electronic cards) associated with the user. The AI- driven dynamic smartcard 100 can store a plurality of virtual cards in the memory of the AI- driven dynamic smartcard 100. Further, an authorized user can add or delete virtual cards from the AI-driven dynamic smartcard 100. In an embodiment herein, the smartcard 100 can comprise of virtual cards associated with one or more users. Examples of the virtual cards can be, but not limited to, credit cards, debit cards, an identity (ID) card, a membership card, a gift card, a transport card, a royalty card, an access card, a boarding pass, a ticket (plane, train, cinema, theater, and so on), a smart Aadhaar card, travel passes (such as, but not limited to, metro passes, train passes, bus passes, parking tickets, and so on), a National Identity card e-passport, and so on. Further, the AI-driven dynamic smartcard 100 pairs with the electronic device 103 and the server 104 via the communication network l02a, l02b.

[0025] If the smartcard 100 is unable to successfully authenticate the user, the AI- driven dynamic smartcard 100 goes back to the standby mode. In another embodiment, the AI-driven dynamic smartcard 100 can go back to standby mode on a pre-defined time period lapsing, without a transaction being performed.

[0026] In one embodiment, the AI-driven dynamic smartcard 100 reads data related to the plurality of virtual cards associated with the user. In an embodiment herein, for reading the data, the smartcard 100 can obtain an image associated with the plurality of virtual cards. In an embodiment herein, the smartcard 100 can use the one or more details of the plurality of virtual cards which are provided by an authenticated user or an administrator. The plurality of virtual cards can include account information and/or data to enable the transaction capabilities and function of the virtual cards, such as, but not limited to, credit cards, debit cards, identity (ID) cards, security cards, transport cards, membership cards, gift cards, loyalty cards, or other type of cards carried by a user. The account information and/or data may include, for example, the virtual card holder's information, information about the virtual card, such as account number, card secure elements, issuer information, and any other relevant information.

[0027] Consider an example scenario where the smartcard 100 can read details of a debit card or a credit card stored as a virtual card in the smartcard 100. Examples of the one or more details includes a number associated with the credit or debit card of the user, a name of the credit or debit cardholder, validation details of the credit or debit card, card Verification Value (CVV) of the credit or debit card and type of the credit or debit card.

[0028] The AI-driven dynamic smartcard 100 can communicate with a card reader 105 for performing a transaction. The card reader 105 can encrypt one or more data and communicates the encrypted data to the AI-driven dynamic smartcard 100 and the electronic device 103 using a communication network l02c. The communication network l02c can be a wired and/or a wireless network, such as, but not limited to, cellular networks, Wi-Fi, Bluetooth, NFC, BFE, and any combination of a FAN, a WAN and the Internet. The AI- driven dynamic smartcard 100 can use a suitable form of visual communication to communicate with the card reader, such as a scannable code (for example, a Quick Response (QR) code, a barcode, and so on). Further, the AI-driven dynamic smartcard 100 stores the encrypted data that is received from the card reader 105 in a memory .

[0029] The electronic device 103 can also store the encrypted data received by the smartcard 100 from the card reader 105, wherein the smartcard 100 can communicate information received from the card reader 105 to the electronic device 103. The Al-driven dynamic smartcard 100 communicates with the server 104 using the communication network l02a to verify the one or more details of the one or more virtual cards that are obtained from the electronic device 103 or the card reader 105. In an embodiment, the Al-driven dynamic smartcard 100 communicates one or more details of the one or more virtual cards to the server 104 to verify the one or more details of the one or more virtual cards.

[0030] In an embodiment, the Al-driven dynamic smartcard 100 can enable the user to track expenses. For example, the Al-driven dynamic smartcard 100 can track the expenses/purchases/credit/debit of the user. The smartcard 100 can provide alerts on pre defined expense thresholds being reached, wherein the alert can be in the form of at least one of a sound, a visual indication, an email, a message, and so on. The thresholds can be pre configured and/or customized by the user.

[0031] In an embodiment, the AI-driven dynamic smartcard 100 can enable the user to track expenses, according to the location of the user. For example, the AI-driven dynamic smartcard 100 can track the expenses/purchases/credit/debit of the user by tracking the transactions done at a particular location. The smartcard 100 can provide alerts on pre defined expense thresholds at a particular location being reached, wherein the alert can be in the form of at least one of a sound, a visual indication, an email, a message, and so on. The thresholds can be pre-configured and/or customized by the user.

[0032] In an embodiment, the AI-driven dynamic smartcard 100 enables the user to obtain a best deal at a particular location by providing suggestions of available discounts, coupons and so on associated with one or more virtual cards for a transaction at that particular location.

[0033] The location, as disclosed herein, can be a physical location (such as a mall, store, and so on), a virtual location (such as an online store, and so on), a location where the user needs to share/verify his identity/information (such as a police station, a hospital, a vendor, an access gate, a transit gate and so on), a location where he needs to provide his insurance (such as a hospital, clinic, and so on), and so on. The AI-driven dynamic smartcard 100 can be used at any standard Point-Of-Sale (POS) terminal that can use either magnetic stripe, EMV, or Near Field Communication (NFC), scannable codes at those terminals; that confirms to existing bank network standards; and that can store account information for a plurality of virtual cards, that secures the use of the virtual card through a bio-metric identification.

[0034] In an embodiment herein, the AI-driven dynamic smartcard 100 can provide insights on spending patterns of the user using artificial intelligence (AI)/Machine Learning (ML)/Natural Language Processing (NLP based expense management. Based on the Machine Learning (ML), and/or Deep learning of the AI-driven dynamic smartcard 100, the AI-driven dynamic smartcard 100 displays notifications or suggestions to enable the user to select any one of the plurality of virtual cards on authenticating the user. The AI-driven dynamic smartcard 100 can also generate a user profile based on factors comprising of an arrival time of the user, time duration or a frequency of user visits, and so on/ [0035] FIG. 2 is a block diagram illustrating various hardware components of the AI- driven dynamic smartcard 100, according to an embodiment as disclosed herein. The AI- driven dynamic smartcard 100 includes a user interface 200, a memory 210, a location tracking unit 220, a controller 230, a communication module 240, a magnetic stripe 250, an authentication engine 260, a machine learning unit 270, and a battery 280.

[0036] In an embodiment herein, the smartcard 100 comprises one or more user interfaces. The user interface can comprise of a display module, one or more switches/toggles, sensors for collecting data (such as biometric sensors, fingerprint sensors, and so on), and so on.

[0037] The display module is configured to display a user interface on a screen of the AI-driven dynamic smartcard 100 based on the gesture/touch inputs of the user. The display module can be, but not limited to, an E-ink display, a Cathode Ray Tube (CRT), a Liquid Crystal Display (LCD), an Organic Light-Emitting Diode (OLED), a Light-emitting diode (LED), an Electroluminescent Display (ELDs), a field emission display (FED) which can display the details of the plurality of virtual cards on the screen of the AI-driven dynamic smartcard 100. The display module can be a touch screen.

[0038] The memory 210 includes storage locations to be addressable through the controller 230. The memory 210 is not limited to a volatile memory and/or a non-volatile memory. Further, the memory 210 can include one or more computer-readable storage media. The memory 210 may include non-volatile storage elements. For example, non-volatile storage elements may include magnetic hard discs, optical discs, floppy discs, flash memories, chip memory, or forms of electrically programmable memories (EPROM) or electrically erasable and programmable (EEPROM) memories. In an embodiment, the memory 210 can be configured to store information about the plurality of virtual cards, contextual information associated with the transactions and biometric information of the user.

[0039] The location tracking unit 220 can be configured for tracking the location of the user of the Al-driven dynamic smartcard 100. In one embodiment, the location tracking unit 220 can use a means such as Global Positioning System (GPS), triangulation, cellular location services, Galileo, GAGAN, Wi-Fi based positioning, and so on.

[0040] The authentication engine 260 can be configured to authenticate the user in response to information provided by the user. The information provided by the user can be at least one of biometrics (such as fingerprints, iris, palm, voice, face, and so on), a username (such as a name, email address, phrase, and so on) and password (such as a user configured password, a pre-defined password, a one-time password, and so on).

[0041] In an embodiment herein, the authentication engine 260 can compare records stored in the memory 210 with the data provided by the user. If the records stored in the memory 210 matches with the authenticating data received from the user, the authentication engine 260 can provide an indication to the controller 230 of the successful authentication. If the records stored in the memory 210 do not match with the authenticating data received from the user, the authentication engine 260 can provide an indication to the controller 230 of the unsuccessful authentication. The controller 230 can provide an indication to the user of successful/unsuccessful authentication using the user interface 200.

[0042] In an embodiment herein, the authentication engine 260 can use an external authentication means (such as Aadhar, SSN, and so on) for authentication. If the authentication engine 260 is able to authenticate the user, the authentication engine 260 can provide an indication to the controller 230 of the successful authentication. If the authentication engine 260 is unable to authenticate the user, the authentication engine 260 can provide an indication to the controller 230 of the unsuccessful authentication. The controller 230 can provide an indication to the user of successful/unsuccessful authentication using the user interface 200.

[0043] The controller 230 can be, but not limited to, a hardware unit, an apparatus, a Central Processing Unit (CPU), and a Graphics Processing Unit (GPU). The controller 230 includes a notification engine 231. In an embodiment, the controller 230 is configured for receiving context of transactions/interactions performed by a user using virtual cards stored in the controller 230. The context of the transaction/interaction is a context of a situation, where the context is a set of interrelated conditions or circumstances that might apply to the situation. Context can include information that might be provided by the establishment at which a transaction/interaction occurs, information that might typically be embedded on a virtual card, information that might be maintained by an institution that issues virtual cards, information that might be maintained by an institution that uses virtual cards, information on card transaction devices other than a virtual card, and previous transaction/interaction information that might be stored in the AI-driven dynamic smartcard 100. The term“context” herein can refer to information received from any one of these sources, any combination of these sources, or other sources. [0044] Consider an example where the user performs a commercial transaction, the context can include, but is not limited to, the store in which the transaction occurs, the item which was purchased, the item(s) purchased previously, the amount of the purchase, the balance on the virtual card which was used for the purchase, the credit limit on the virtual card which was used for the purchase, the virtual cards that are accepted at the place of purchase, the virtual card used for the previous transactions at the place of purchase, the virtual card frequently used by the user for purchasing at the place of purchase, and so on.

[0045] For commercial transactions, context can include information that might be provided by the establishment at which a transaction occurs, information that might typically be embedded on a virtual card, information that might be maintained by an institution that issues virtual cards, information on card transaction devices other than a virtual card, and previous transaction information that might be stored in the smartcard 100.

[0046] In an embodiment, the controller 230 is configured for automatically selecting at least one virtual card of the plurality of virtual cards appropriate for the transaction at the determined location based on the received contextual information of at least one transaction/interaction done at the current determined location in past. In an embodiment herein, the controller 230 can select a plurality of virtual cards, wherein an authorized user can select a suitable virtual card of his choice from the plurality of virtual cards selected by the controller 230.

[0047] For example, when a purchase is to be made, the AI-driven dynamic smartcard 100 determines the location of the user. Further, when the AI-driven dynamic smartcard 100 is brought into proximity with a card reader 105 at the place of purchase, the Al-driven dynamic smartcard 100 might recognize that a purchase is being made and, based on the context, the Al-driven dynamic smartcard 100 might automatically select an appropriate virtual card to be used for payment for the purchase based on the received contextual information and the location of the user of the Al-driven dynamic smartcard 100.

[0048] In an embodiment herein, the user can select a virtual card from a plurality of virtual cards that can be used for the transaction/interaction at the determined location. The controller 230 can record the user’s choices and can store it in the memory 210. For example, if the user tends to select a particular virtual card for performing a transaction at the determined location (e.g., shopping mall), the controller 230 stores the user’s choice in the memory 210 and if the user enters the same location (i.e., shopping mall) in the future, the particular virtual card will be automatically selected or that virtual card will be displayed to the user as the preferred virtual card based on machine learning by the machine learning unit 270.

[0049] In an embodiment herein, if the location is a store where the user is making a transaction (such as paying for a service or making a purchase), the controller 230 can determine whether any one of the plurality of virtual cards present in the smartcard 100 has an offer at the current determined location that can be utilized by the user when performing the transaction. The controller 230 can determine the available offer(s) at the current determined location, by accessing publicly available sources of information such as sources available on the Web (such as, but not limited to, websites that list offers available, website of the current determined location, and so on), data received from partners/sources (such as one or more store available at the current determined location, and so on). The Al-driven dynamic smartcard 100 can communicate via the communication network 102 to other entities such as bank servers, remote servers of merchants, websites which list out offers, and so on, to collect user offers available for the virtual cards for the transaction at the determined location. For example, the offer can include various offers, discounts, coupons, gift cards, vouchers, or the like, that relate to goods and/or services. Examples of offers can include, but not limited to, a percentage discount off a total bill, percentage discount off a given item, a rebate, a buy-one-get-one-free deal, a financing offer, a loyalty or rewards membership coupon, user preferences, or the like. As discussed herein, such offers can also be applied, used, or otherwise exploited using the Al-driven dynamic smartcard 100 during the transaction.

[0050] Further, the controller 230 can provide a notification to the user of the Al- driven dynamic smartcard 100 using the notification engine 231 and the user interface 200, if any one of the plurality of virtual cards has an offer at the current determined location which the user can avail while performing the transaction. In an example herein, the notification can be in the form of at least one of a text-message pop-up, a message overlay, an audio, and so on.

[0051] The communication module 240 can be used for performing security operations. The communication module 240 can receive information from the memory 210, which stores the data of the user, related to one or more virtual cards present in the smartcard 100. The communication module 240 enables the Al-driven dynamic smartcard 100 to interact with external entities (such as Point-Of-Sale (POS) terminals, payment terminals, automated teller machines (ATMs), devices capable of receiving/making payment, performing authentication, and so on) to authenticate the AI-driven dynamic smartcard 100 and/or one or more virtual cards present in the smartcard 100. During the transaction, the communication module 240 does not permit the data to be directly copied from the memory 210, without receiving permission from an issuer of the corresponding virtual card being used for the transaction.

[0052] In an embodiment herein, the communication module 240 enables the smartcard 100 to act as EMV cards which can be physically inserted (or“dipped”) into an EMV card reader (not shown) enabling the user to perform the transaction.

[0053] In an embodiment herein, the communication module 240 can enable the smartcard 100 to function as a contactless card that can be read over a short distance using a suitable means such as radio -frequency identification (RFID), NFC, BLE, ZigBee, Z-wave, LiFi, Ultrasonic, Chipcast, and so on. In an example, consider that the cards uses RFID for communication using standards based on ISQ/IEC 7816 for contact EMV cards and standards based on ISO/TEC 14443 for contactless EMV cards.

[0054] In an embodiment herein, the magnetic stripe 250 can comprise of thin inductive coils that can generate a magnetic field when current is passed through the inductive coils. In an embodiment herein, the magnetic stripe 250 can comprise of a plurality of inductive coil strips that cannot communicate data unless the AI-driven dynamic smartcard 100 is turned ON. The magnetic stripe 250 can enable the smartcard 100 to act as a magnetic stripe card which can be swiped on an appropriate magnetic card reader (not shown) that will then read the encoded digital identification information which is stored in the magnetic stripe 250. In an embodiment herein, the magnetic stripe 250 can be a dynamic magnetic stripe, wherein no data is present in the stripe. The memory 210 can comprise magnetic stripe data belonging to all virtual cards stored in the smartcard 100. As per the input from the user or as determined by the controller, the controller 230 can fetch the magnetic stripe data belonging to that card from the memory 210 and provide the fetched data to the magnetic stripe. On detecting that the transaction is complete, the controller 230 removes the magnetic stripe data of the virtual card from the magnetic stripe 250.

[0055] For example, the user may swipe the AI-driven dynamic smartcard 100 with the magnetic stripe 250 at the retail Point-Of-Sale (POS) terminal that will read the digital identification information encoded on the magnetic stripe 250. [0056] The encoded digital identification information (or credentials) on an AI-driven dynamic smartcard 100 can be in the form of a digital identifier such as a card identification number, an account number, a credit card number, an employee identifier, and so on. The digital identifier can be made available to the communication module 240, and the magnetic stripe 250, as required. In an embodiment herein, the digital identifier can be a static digital identifier.

[0057] The battery 280 provides power to the AI-driven dynamic smartcard 100. In an example herein, the battery 280 may be an ultra-thin Lithium ion battery. In an embodiment herein, the battery 280 can be a replaceable battery.

[0058] In an embodiment herein, the battery 280 may be a rechargeable battery. The battery 280 can be charged using at least one of a wireless charging unit (not shown), and/or a battery charger and power management unit (not shown). The wireless charging unit can provide required power to the battery 280 using a Near Field Communication Integrated Chip (NFC IC) 300 (as shown in the example in FIG. 3A). The battery charger and management unit can provide the required power to the battery 280 when the AI-driven dynamic smartcard 100 is connected with the card reader 105.

[0059] In an embodiment herein, the battery 280 can harvest power from payment terminal using NFC at the time of the transaction. In an embodiment herein, the battery 280 can be charged by an NFC enabled device, such as a mobile device, mobile phone, tablet, charger, reader, and so on. In an embodiment herein, the battery 280 can harvest power through a contact chip (communication module 240).

[0060] FIG. 2 shows the various hardware components of the AI-driven dynamic smartcard 100, but it is to be understood that other embodiments are not limited thereon. In other embodiments, the AI-driven dynamic smartcard 100 may include less or more number of units. Further, the labels or names of the units are used only for illustrative purpose and does not limit the scope of the embodiments disclosed herein. One or more units can be combined together to perform same or substantially similar function in the AI-driven dynamic smartcard 100.

[0061] FIG. 3 A illustrates an example top view of the AI-driven dynamic smartcard 100, according to embodiments as disclosed herein. In the example depicted herein, the top view of the AI-driven dynamic smartcard 100 includes a Light Emitting Diode (LED) indicator 302 (which can be an example of a user interface 200), an NFC module 300, a chip and pin (EMV) 303 (which can be an example of a communication module 240) and the display module 304 (which can be an example of a user interface 200).

[0062] In an example herein, the LED indicator 302 indicates a blue color for 0.5 sec when the authentication data of the user matches with the records stored in the memory 210. In an example herein, the LED indicator 302 indicates a green color for 1 sec when any transaction is performed by the user. In yet another example herein, the LED indicator 302 indicates a red color when the charge in the battery 280 is low, a yellow color when the battery 280 is in charging condition and a green color when the battery 280 is fully charged.

[0063] The NFC module 300 provides an output power to the battery 280 when the NFC antenna of the AI-driven dynamic smartcard 100 is in the range of the NFC antenna of an active point-of-sale (POS) terminal.

[0064] The display module 304 displays a status of the AI-driven dynamic smartcard 100 when the AI-driven dynamic smartcard 100 is powered ON. The display module 304 can display details of the one or more virtual cards that are stored in the AI-driven dynamic smartcard 100 to the user. The user can select any one virtual card of the plurality of virtual cards for the transaction using the user interface 200. The communication module 240 can store data of one or more virtual cards stored in the smartcard 100.

[0065] FIG. 3B illustrates an example bottom view of the AI-driven dynamic smartcard 100, according to embodiments as disclosed herein. In the example depicted herein, the bottom view of the AI-driven dynamic smartcard 100 includes the magnetic stripe 250, and a finger print sensor 305 (which can be an example of a user interface 200).

[0066] In an example herein, the finger print sensor 305 can enable the user to provide the finger print. The finger print sensor 303 communicates with the authentication engine 260 and the controller 230 to verify the finger print of the user.

[0067] FIG. 4 is a flow diagram 400 illustrating a method for automatically selecting at least one virtual card from a plurality of virtual cards for at least one transaction at a current determined location, according to embodiments as disclosed herein. At step 402, the method includes determining a current location of a user of an AI-driven dynamic smartcard 100. In an embodiment herein, the method allows the location tracking unit 220 to determine the current location of the user of the AI-driven dynamic smartcard 100.

[0068] At step 404, the method includes receiving contextual information of at least one transaction done in the past at the current determined location. In an embodiment herein, the method allows the controller 230 to obtain contextual information of at least one transaction done in the past at the location of the user of the AI-driven dynamic smartcard 100.

[0069] For example, the AI-driven dynamic smartcard 100 determines the current location of the user as a departmental store using the location tracking unit 220 and then receives the contextual information from the memory 210 about one or more recently used virtual cards for financial transaction(s) done in the past at the departmental store.

[0070] At step 406, the method includes automatically selecting at least one virtual card from the plurality of virtual cards appropriate for performing at least one transaction at the current determined location based on the received contextual information. In an example herein, the method allows the controller 230 to select a most recently used virtual card for the at least one transaction (e.g., financial transaction) at the current determined location.

[0071] For example, the AI-driven dynamic smartcard 100 automatically displays the most recently used virtual card on the display of the AI-driven dynamic smartcard 100.

[0072] At step 408, the method includes providing a notification to the user of the at least one selected smartcard 100. In an embodiment, the method allows the notification engine 231 to provide a notification to the user suggesting the at least one selected virtual card that can be used for performing the transaction at the current determined location. For example, the AI-driven dynamic smartcard 100 provides a notification to the user suggesting at least one virtual card that can be used for making a purchase at the departmental store. In an embodiment herein, the user can select a virtual card for performing the transaction, if one or more virtual cards have been selected. In an embodiment herein, the controller 230 can rank the virtual cards, if more than one virtual card can be used for performing the transaction.

[0073] The various actions in method 400 may be performed in the order presented, in a different order or simultaneously. Further, in some embodiments, some actions listed in FIG. 4 may be omitted.

[0074] FIG. 5 is a flow diagram illustrating a method 500 for determining whether at least any one of the plurality of virtual cards having a discount at the current determined location for the at least one transaction associated with the contextual information, according to embodiments as disclosed herein. Consider that the controller 230 has automatically selected at least one virtual card from the plurality of virtual cards appropriate for performing at least one transaction at the current determined location based on the received contextual information. In an example herein, the method allows the controller 230 to select a most recently used virtual card for the at least one transaction (e.g., financial transaction) at the current determined location. At step 502, the method includes determining whether at least any one of the plurality of virtual cards has an offer at the current determined location for the at least one transaction. In an embodiment, the method allows the controller 230 to determine if any of the virtual cards has any offers at the current determined location for the transaction. For example, the AI-driven dynamic smartcard 100 determines whether the plurality of virtual cards stored in the memory 210 has any offers at the departmental store. The AI- driven dynamic smartcard 100 determines the offers associated with the plurality of virtual cards by communicating with the bank servers, and/or servers in the merchants via the communication network 102. At step 504, the method includes providing a notification to the user of the AI-driven dynamic smartcard 100 if at least any one of the plurality of virtual cards has an offer at the current determined location for the at least one transaction. In an embodiment, the method allows the notification engine 231 to provide a notification to the user suggesting the virtual card having an offer at the current determined location. For example, the AI-driven dynamic smartcard 100 provides a notification to the user suggesting a virtual card having an offer at the departmental store that can be used for the financial transaction. In an embodiment herein, the user can select a virtual card for performing the transaction, if one or more virtual cards has offers at the determined location. In an embodiment herein, the controller 230 can rank the virtual cards, if more than one virtual card can be used for performing the transaction and the virtual card(s) have one or more offers associated with them.

[0075] The various actions in method 500 may be performed in the order presented, in a different order or simultaneously. Further, in some embodiments, some actions listed in FIG. 5 may be omitted.

[0076] Unlike conventional methods and systems, the AI-driven dynamic smartcard 100 determines the current location of the user and can select a payment mode for the financial transaction at the determined location based on parameters such as previous transactions done in the past at the determined location. Further, the AI-driven dynamic smartcard 100 provides notifications regarding the virtual cards having offers that can be availed while performing the financial transaction at the determined location. Thus, the user does not need to frequently select a virtual card in the AI-driven dynamic smartcard 100 for performing a financial transaction at the location where the user frequently visits and can conveniently avail offers at the determined location without missing it.

[0077] FIG. 6 is a flow diagram 600 illustrating a method for determining whether at least any one of the plurality of virtual cards has earned at least one reward point while performing the transaction, according to embodiments as disclosed herein. At step 602, the method includes determining if at least one reward point has been earned in the course of the user performing the at least one transaction. In an embodiment, the method allows the controller 230 to determine if at least one reward point that was earned during the financial transaction. At step 604, the method includes storing the at least one reward point in the memory 210, wherein the stored reward point is associated with the location at where the transaction was performed and the virtual card used for performing the transaction. At step 606, the method includes providing a notification to the user of the AI-driven dynamic smartcard 100 about the at least one earned reward point that can be utilized for a next transaction. In an embodiment, the method allows the notification engine 231 to provide a notification to the user of the AI-driven dynamic smartcard 100 about the at least one reward point that can be utilized for a next transaction.

[0078] The various actions in method 600 may be performed in the order presented, in a different order or simultaneously. Further, in some embodiments, some actions listed in FIG. 6 may be omitted.

[0079] The embodiments disclosed herein can be implemented using at least one software program running on at least one hardware device and performing network management functions to dynamically control the elements. The elements shown in FIG. 1 through 5 include blocks which can be at least one of a hardware device, or a combination of hardware device and software module.

[0080] 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 spirit and scope of the embodiments as described herein.

Claims

STATEMENT OF CLAIMS We claim:

1. A smartcard (100), comprising:

a memory (210) for storing a plurality of virtual cards;

a location tracking unit (220) for determining (402) a current location of a user of the smartcard (100); and

a controller (230) configured for:

receiving (404) contextual information related to at least one transaction done in past at the current determined location; and

selecting (406) at least one virtual card from the plurality of virtual cards for performing the at least one transaction at the current determined location based on the received contextual information.

2. The smartcard (100), as claimed in claim 1, wherein the at least one virtual card is selected (406) based on the received contextual information of at least one transaction/interaction done previously at the current determined location, reward point(s) that can be earned at the current determined location for the at least one transaction, user preferences, and location preferences.

3. The smartcard (100), as claimed in claim 1, the controller (230) is configured for:

determining (502) if the at least any one selected virtual card has at least one offer at the current determined location for the at least one transaction; and

providing (504) a notification to the user of the smart card (100) of the at least one determined virtual card has at least one offer at the current determined location for the at least one transaction.

4. The smartcard (100), as claimed in claim 1, wherein the controller (230) is configured for determining (602) at least one reward point has been earned in the course of the user performing the at least one transaction; and

providing (606) a notification to the user of the smartcard (100) about the at least one reward point.

5. The smartcard (100), as claimed in claim 1, wherein the smartcard (100) comprises a communication module (240) configured for interacting with at least one external entity using at least one of a contactless means; and a contact based means.