Importance

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Abstract

A personal identification and credit information system and a method of performing a transaction are provided for reducing inconveniences associated with using identifications, credit cards, debit cards, or the like when a user engages in purchase, credit, or banking transactions. The personal identification and credit information system preferably includes a ring arranged for inserting a finger of a user therethrough. The ring preferably has a memory device mounted to the ring for storing data therein. The ring preferably has a storage chamber connected to an outer surface of the ring for positioning the memory device therein. The memory device preferably includes a personal identification and credit data file having personal identification and credit data stored in a predetermined format in the personal identification and credit data file. A communicator preferably is electrically connected to the memory device for communicating personal identification and credit data to and from the personal identification and credit data file of the memory device. The system also preferably includes a scanner arranged to be positioned adjacent the communicator of the ring and in electrical communication therewith for receiving personal identification and credit data from the personal identification and credit data file of the memory device to thereby responsively determine whether to authorize a transaction.

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First Claim