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US 7,734,544 B2Granted
Authorization and capture with multiple currencies
AssigneeeBay Inc.
InventorJoerg Schleicher
Life of this patent
Estimating the term…
Abstract
Techniques are presented for authorization and capture with multiple funding sources and currencies. A transaction amount associated with a target currency is authorized from one or more funding sources, where at least one of the one or more funding sources includes funds associated with a different currency from the target currency. The funds from the different currency are calculated at authorization to cover the transaction amount and converted at settlement or capture to determine if the transaction amount is still covered at capture.
Claims23
An authorization and conversion system comprising:
- at least one processor;
- a memory in communication with at least one processor, storing instructions that when executed by the at least one processor cause the at least one processor to perform the operations of:
- storing at least one settlement policy and at least one mutually agreed threshold for a currency conversion between a buyer and a merchant;
- receiving by a settlement and capture service a transaction from a merchant computer, for an amount in a target currency;
- determining by the settlement and capture service that funds in an account of the buyer in a source currency are insufficient to cover the transaction amount in the target currency;
- based on the settlement policy, acquiring by the settlement and capture service a balance of funds from an account of the buyer in a backup currency, wherein the backup currency is different from the source and target currencies;
- acquiring by the settlement and capture service a currency conversion rate for conversion between the source currency and the backup currency;
- comparing by the settlement and capture service a difference between the acquired currency conversion rate and an initial currency conversion rate with the mutually agreed threshold;
- and
- authorizing the transaction by the settlement and capture service based on the comparison.
7 more elements
A method comprising:
- storing at least one settlement policy and at least one mutually agreed threshold for a currency conversion between a buyer and a merchant;
- receiving by a settlement and capture service a transaction from a merchant computer, for an amount in a target currency;
- determining by the settlement and capture service that funds in an account of the buyer in a source currency are insufficient to cover the transaction amount in the target currency;
- based on the settlement policy, acquiring by the settlement and capture service a balance of funds from an account of the buyer in a backup currency, wherein the backup currency is different from the source and target currencies;
- acquiring by the settlement and capture service a currency conversion rate for conversion between the source currency and the backup currency;
- comparing by the settlement and capture service a difference between the acquired currency conversion rate and an initial currency conversion rate with the mutually agreed threshold;
- and
- authorizing the transaction by the settlement and capture service based on the comparison.
5 more elements
A machine readable medium embodying instructions that, when executed by a machine, cause the machine to perform the following operations:
- storing at least one settlement policy and at least one mutually agreed threshold for a currency conversion between a buyer and a merchant;
- receiving by a settlement and capture service a transaction from a merchant computer, for an amount in a target currency;
- determining by the settlement and capture service that funds in an account of the buyer in a source currency are insufficient to cover the transaction amount in the target currency;
- based on the settlement policy, acquiring by the settlement and capture service a balance of funds from an account of the buyer in a backup currency, wherein the backup currency is different from the source and target currencies;
- acquiring by the settlement and capture service a currency conversion rate for conversion between the source currency and the backup currency;
- comparing by the settlement and capture service a difference between the acquired currency conversion rate and an initial currency conversion rate with the mutually agreed threshold;
- and
- authorizing the transaction by the settlement and capture service based on the comparison.
5 more elements
Dependencies are inferred from the claim text.