Systems and methods for performing international money exchanges
US7529706B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Nov 16, 2004 |
| Grant date | May 5, 2009 |
| Priority date | — |
| Expiry date | Jun 2, 2026 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/108
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
Disclosed are systems and methods for effecting international online financial transactions between individuals or between individuals and entities such as banks, merchants and other companies. In one embodiment, requests for international currency exchanges are processed in batch form. A currency accumulator may be used to keep track of currency exchange requests, where each currency is assigned a notional “bucket,” which is a symbolic representation of a database entry for the monetary amount which has been requested to be exchanged for a given currency. When the contents of a particular currency's “bucket” reaches a given level, the monetary amount in the bucket may be exchanged for an equivalent amount of a second currency.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.