Paying non-settlement transactions
Payment of non-settlement currencies includes developing a non-settlement currency exchange separate from a financial institution unwilling to assume risks in converting non-settlement currencies. The non- settlement currency exchange includes a predictive model to provide an estimated currency exch...
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Main Authors | , , , |
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Format | Patent |
Language | Chinese English |
Published |
23.04.2014
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Subjects | |
Online Access | Get full text |
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Summary: | Payment of non-settlement currencies includes developing a non-settlement currency exchange separate from a financial institution unwilling to assume risks in converting non-settlement currencies. The non- settlement currency exchange includes a predictive model to provide an estimated currency exchange rate. Schemes are provided where a merchant may share currency exchange profit and/or currency exchange losses with the financial institution. The exchange rate may be persisted in subsequent related financial transactions such as a refund, a chargeback, and/or a representment. |
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Bibliography: | Application Number: CN2012831288 |