Systems and methods for virtual currency exchange

US11756013B2 · 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 1, 2021
• Grant date: Sep 12, 2023
• Expiry date: Nov 6, 2041

Classification

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

Abstract

A method for initiating a virtual currency exchange includes a merchant computing device a) receiving a message including a user account identifier, payment credential data, and a request for an amount of virtual currency to be delivered; b) transmitting a message delivering the requested amount of virtual currency; and c) receiving a user assignment message that assigns to the merchant an amount of assigned virtual currency from the delivered virtual currency. Steps a, b, and c are performed while the merchant computing device is in a first physical location. The method also includes, subsequent to steps a, b, and c, connecting to a payment network while the merchant computing device is at a second physical location and transmitting, to a virtual currency payment system via the payment network, an assignment completion message including the user account identifier, a merchant account identifier associated with the merchant, and the assigned virtual currency.