Method and system for supporting micro-transactions in a digital asset network via digital tokens

US12067544B2 · kind B2 · utility

Assignee

• MASTERCARD INTERNATIONAL INCORPORATED · US

Inventors

• Sarala Buradagunta · West Orange, US
• Rakesh Yadav · Cape Elizabeth, US
• Sébastien Le Callonnec · Greystones, IE

Key dates

• Filing date: Mar 19, 2021
• Grant date: Aug 20, 2024
• Expiry date: Nov 30, 2042

Classification

• Technology area (CPC H): Electricity
• CPC primary: H04L2209/56
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

The disclosed method includes: receiving, by a receiving device of a processing server, a transaction request for a financial transaction, the transaction request including at least information associated with a consumer; forwarding at least the information associated with the consumer, the information associated with the merchant, and the transaction amount or projected transaction amount to an issuer; receiving an authorization from the issuer for the transaction amount or projected transaction amount; forwarding the authorization to the merchant; receiving a triggering event for the financial transaction between the consumer and the merchant; sending a request to the issuer for digital tokens to be held for payment of the transaction between the consumer and the merchant; receiving a plurality of digital tokens from the issuer for the payment of the transaction between the consumer and the merchant; and holding the plurality of digital tokens received from the issuer for the financial transaction.