Cryptocurrency payment network
US10108938B1 · kind B1 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 18, 2018 |
| Grant date | Oct 23, 2018 |
| Priority date | — |
| Expiry date | Jun 18, 2038 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/4012
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
In one embodiment, a method includes receiving, from a point-of-sale system associated with a merchant, a request for payment associated with a transaction, wherein a payment amount is specified in a fiat currency. The method also includes determining a preference of the customer to pay for the transaction using a cryptocurrency and calculating a cryptocurrency value of the payment based on an exchange rate between the cryptocurrency and the fiat currency. The method further includes initiating a transfer of cryptocurrency value from a customer balance of the customer to a service balance of the payment service, initiating a transfer of a value in the fiat currency from the service balance of the payment service to a merchant balance of the merchant, and generating a record of the transaction between the customer and the merchant.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.