System and method for digital payments using blockchain with customer keys
AssigneeUnited Services Automobile Association (USAA)
InventorsYevgeniy Viatcheslavovich Khmelev, Gregory Brian Meyer
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Abstract
Systems and methods for fault tolerant digital payments are disclosed. The system comprises a computing system that can automatically determine if payments should be processed using a digital payment processing system, or using a blockchain. When the system detects that communication with the digital payment processing system has been interrupted, the system may facilitate transactions through the blockchain. In particular, the system may receive private keys from mobile devices of customers, which can be used to make payments on the blockchain.
Claims8
A method for enabling digital transactions when communication between a point-of-sale system and a digital payment processing system is unavailable, the method comprising the steps of:
- receiving, by a mobile device, a private key associated with a designated address on a blockchain;
- receiving information, by the mobile device and from a computing system, about a communication status between the point-of-sale system and the digital payment processing system;
- sending digital payment information by the mobile device to the point-of-sale system when the point-of-sale system is in communication with the digital payment processing system;
- generating, by the mobile device, global positioning system (GPS) location data that is descriptive of a location of the mobile device;
- sending the GPS location data by the mobile device to the point-of-sale system;
- receiving by the mobile device a geofencing set of location data describing a designated area from an emergency alert system;
- comparing by the mobile device the GPS location data to the geofencing set of location data and determining by the mobile device whether the mobile device is located within the designated area;
- allocating by the mobile device emergency funds to the designated address on the blockchain in response to determining that the mobile device is located within the designated area;
- and
- sending the private key by the mobile device to the computing system when communication between the point-of-sale system and the digital payment processing system is interrupted, wherein the private key can be used to make a transaction on the blockchain while communication between the point-of-sale system and the digital payment processing system is interrupted.
Dependencies are inferred from the claim text.