Online processing for offshore business transactions
US8612344B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Aug 21, 2009 |
| Grant date | Dec 17, 2013 |
| Priority date | — |
| Expiry date | Apr 15, 2030 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q40/04
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A method and system for processing offshore online transaction use an intermediary platform to conduct foreign currency exchange on behalf of a buyer and an offshore seller. The method allows the buyer to purchase a product of an offshore merchant website using a local currency through the intermediary platform. The buyer places an order at the offshore merchant website, which sends an order request to the intermediary platform. The intermediary platform calculates the purchase amount in local currency, and exchanges the local currency amount provided by the user into an equivalent foreign currency amount through a financial platform, and sends a transaction message indicating successful payment to the offshore merchant website to allow shipping of the product. The intermediary platform periodically conducts accounting and profit sharing operations with the offshore merchant website.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.