Stored value payment instrument, having payment card characteristics, for virtual cash transactions

US12387214B2 · kind B2 · utility

Assignee

• Bank of America Corporation · US

Inventors

• Steven Greene · New York, US
• Kerry M. Vaughan · Pennington, US
• Srinath S. Chakravarty · Plano, US
• Aravind Shankaragouda Singtalur · McKinney, US
• Dinesh Kumar Agrawal · Rowlett, US
• Stephen Richard Belton · Garden City, US
• Kenneth L. Boyd · Mechanicsville, US
• Petar Puskarich · Plano, US

Key dates

• Filing date: Jan 24, 2023
• Grant date: Aug 12, 2025
• Expiry date: Jul 16, 2043

Classification

• Technology area (CPC G): Physics
• CPC primary: G06Q20/42
• WIPO field: IT methods for management
• WIPO sector: Electrical engineering

Abstract

A method for transferring goods from a digital+bitcoin (d+b) stored value transaction instrument-supporting vendor to a user device, or a device user, such as a d+b stored value transaction instrument is provided. The device may be registered with a cryptocurrency provider and a value allocation. The method may include receiving a user request configured for a cryptocurrency-based transaction; transmitting a consent to transact the cryptocurrency-based transaction and, in response to the transmitting, receiving, from the user device, a Quick Response (QR) code. The code specifies, at least: a) an amount of cryptocurrency; and b) a product or a service to be exchanged for the amount of cryptocurrency. The method may also receive a biometric characteristic that confirms the transaction. The method may then receive the amount of cryptocurrency via the d+b stored value transaction instrument, and transmit a confirmation of receipt of the cryptocurrency.