Multi currency exchanges between participants of a network-based transaction facility
US8055582B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jun 18, 2010 |
| Grant date | Nov 8, 2011 |
| Priority date | — |
| Expiry date | Jun 18, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/12
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and apparatus for facilitating online payment transactions in multiple currencies between participants of a network-based transaction facility are described. In one embodiment, an exchange rate associated with a currency is stored in a database. The exchange rate is received from a third party system and is associated with a rate expiration date. One or more payment transactions conducted in the currency are also stored. A determination is made whether a determinable time period has expired, whereby the determinable time period is set to expire prior to the rate expiration date. In response to the determinable time period expiring, instructions are sent to the third party system to execute trades on the one or more payment transactions using the stored exchange rate.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.