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 excha...

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Bibliographic Details
Main Authors ZUMWALT KURT HAROLD, HUNT RICHARD D, BOWMAN MARY KATHERINE, JAIN ROHIT
Format Patent
LanguageEnglish
Published 27.12.2012
Subjects
CALCULATING
COMPUTING
COUNTING
DATA PROCESSING SYSTEMS OR METHODS, SPECIALLY ADAPTED FORADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORYOR FORECASTING PURPOSES
PHYSICS
SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE,COMMERCIAL, FINANCIAL, MANAGERIAL, SUPERVISORY OR FORECASTINGPURPOSES, NOT OTHERWISE PROVIDED FOR
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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 a financial institution. The exchange rate may be persisted in subsequent related financial transactions such as a refund, a chargeback, and/or a representment.
Bibliography:Application Number: US201113168834