Systems and methods for virtual currency exchange at a mobile event

US11164167B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• John Young · O'Fallon, US
• Bradley Kenneth Dickinson · O'Fallon, US
• Bryan Niehaus · Clayton, US
• John E. Roth · Waterloo, US
• Sai Sudha Venkata Chaganti · Ballwin, US
• Anupama Zagabathuni · Chesterfield, US

Key dates

• Filing date: Nov 15, 2017
• Grant date: Nov 2, 2021
• Expiry date: Apr 5, 2039

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/40
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A mobile event payment (MEP) computing system used for exchanging virtual currency between a user and a merchant at a mobile event is provided. The MEP computing system includes a MEP computing device including a processor communicatively coupled to a memory device and in communication with at least a user device. The processor is programmed to store a user profile and a merchant profile for exchanging virtual currency, to receive a virtual currency delivery message, and to transmit a virtual currency delivery message to the user mobile device. The processor is programmed to receive a virtual currency payment message including an account identifier associated with the merchant, to electronically deduct the amount of virtual currency from the updated amount of virtual currency of user account, and to electronically add the paid virtual currency to the virtual currency of the account associated with the merchant profile.