Method and system for facilitating micropayments in a financial transaction system
US8712914B2 · kind B2 · utility
Assignee
Inventors
Key dates
| Filing date | Jan 14, 2013 |
| Grant date | Apr 29, 2014 |
| Priority date | — |
| Expiry date | Jan 14, 2033 |
Classification
- Technology area (CPC G)Physics
- CPC primaryG06Q20/381
- WIPO fieldIT methods for management
- WIPO sectorElectrical engineering
Abstract
A system for processing accounts includes a database configured to store a plurality of accounts, the accounts including a consumer account associated with a consumer and a plurality of merchant accounts including a transacting merchant account associated with a merchant, wherein at least one account includes an amount of a virtual currency associated with the account. The system further includes a processor configured to process a financial transaction, wherein the transaction includes the consumer and the merchant, is for a specified amount of virtual currency, and processing the transaction includes transferring the specified amount of virtual currency from the consumer account to the transacting merchant account. The processor is further configured to process the at least one account, wherein processing the at least one account includes converting the associated amount of virtual currency to or from a real currency when the at least one account meets a predetermined criteria.
Source: USPTO / EPO open patent data. Objective bibliographic and citation counts.