Cryptocurrency payment based on a canceled fiat transaction
US12205165B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | May 13, 2022 |
| Grant date | Jan 21, 2025 |
| Priority date | — |
| Expiry date | Oct 21, 2042 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q2220/00
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
An example operation may include one or more of receiving, via a host platform of a digital wallet, a payment authorization request message for a payment transaction of the digital wallet from a payment gateway of an electronic payment network, verifying that the digital wallet has sufficient funds to satisfy an amount of the payment transaction and transmitting a payment authorization response to the payment gateway, pausing clearing and settling of the authorized payment transaction, generating an entry that represents the authorized payment transaction and storing the entry in a temporary storage structure of the host platform, executing a cryptocurrency transaction which exchanges cryptocurrency for an amount of fiat currency that satisfies the amount of the payment transaction, and canceling the authorized payment transaction and settling the payment transaction based on the amount of fiat currency received from the cryptocurrency transaction.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.