EP0949596A2
Expired / Lapsed
EP
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Method and system to perform electronic value exchange and settlement among heterogeneous payment schemes with heterogeneous currencies
Assignee: Citibank NA
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Filing: 1999-03-30
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Granted: —
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Expires: 2019-03-30
Abstract
Abstract A method and system to perform electronic value exchange and settlement among heterogeneous payment schemes with heterogeneous currencies. The method and system simultaneously enable electronic value exchange and denomination conversion. In an electronic exchange, the method and system determine the payment scheme and currency required, then make any required conversions to meet the requirements.
Inventors
- 👤 Charles Golvin
- 👤 Thomas Katis
Bibliographic Details
Application Number
—
Jurisdiction
EP
Data Source
google_patents
Last Synchronized
2026-11-09 14:32
CPC Classifications
G; G06; G06Q; G06Q20/00; G06Q20/04; G06Q20/06; G06Q20/22; G06Q20/29; G06Q20/38; G06Q20/381
Claims Analysis
Total Claims: 45
Claim 1
Independent Claim
56 words
A method for conducting an electronic transaction, comprising: receiving a payor value type selection for the electronic transaction from a
payor; determining a payee value type selection and a payee payment; calculating a payor payment equivalent to the payee payment; receiving the calculated payor payment from the payor; and paying the payee payment to the payee.
Claim 2
Dependent Claim
18 words
The method for conducting the electronic transaction of claim 1,
wherein the electronic transaction occurs via a network.
Claim 3
Dependent Claim
16 words
The method for conducting the electronic transaction of claim 2,
wherein the network is the internet.
Claim 4
Dependent Claim
19 words
The method for conducting the electronic transaction of claim 1,
wherein the value type selection is a micropayment scheme.
Claim 5
Dependent Claim
30 words
The method for conducting the electronic transaction of claim 1,
wherein the payor value type selection includes one from the group consisting of
Mondex, eCash, Visa Cash, and Cyber Coin.
Claim 6
Dependent Claim
18 words
The method for conducting the electronic transaction of claim 1,
wherein the payor value type selection includes currency.
Claim 7
Dependent Claim
20 words
The method for conducting the electronic transaction of claim 1,
wherein the payor value type selection includes frequent flier miles.
Claim 8
Dependent Claim
19 words
The method for conducting the electronic transaction of claim 1,
wherein the payor value type selection includes loyalty points.
Claim 9
Dependent Claim
30 words
The method for conducting the electronic transaction of claim 1,
wherein the payee value type selection includes one from the group consisting of
Mondex, eCash, Visa Cash, and Cyber Coin.
Claim 10
Dependent Claim
18 words
The method for conducting the electronic transaction of claim 1,
wherein the payee value type selection includes currency.
Claim 11
Dependent Claim
20 words
The method for conducting the electronic transaction of claim 1,
wherein the payee value type selection includes frequent flier miles.
Claim 12
Dependent Claim
19 words
The method for conducting the electronic transaction of claim 1,
wherein the payee value type selection includes loyalty points.
Claim 13
Dependent Claim
25 words
The method for conducting the electronic transaction of claim 1,
wherein calculating the payee payment includes converting the payor payment to
an equivalent payee payment.
Claim 14
Dependent Claim
17 words
The method for conducting the electronic transaction of claim 1,
wherein the form of payment are coupons.
Claim 15
Dependent Claim
16 words
The method for conducting the electronic transaction of claim 2,
wherein the network is the internet.
Claim 16
Dependent Claim
39 words
The method for conducting the electronic transaction of claim 13,
wherein converting the payor payment to an equivalent payee payment includes: accessing a database of conversion values; and determining the equivalent payee payment using the database of conversion
values.
Claim 17
Dependent Claim
19 words
The method for conducting the electronic transaction of claim 1,
wherein the electronic transaction is conducted by an intermediary.
Claim 18
Dependent Claim
27 words
The method for conducting the electronic transaction of claim 1,
wherein determining a payee value type selection includes receiving the payee
value type selection from the payee.
Claim 19
Dependent Claim
26 words
The method for conducting the electronic transaction of claim 1,
wherein determining a payee value type selection includes accessing a database of
payee value type selections.
Claim 20
Dependent Claim
20 words
The method for conducting the electronic transaction of claim 1,
wherein the electronic transaction includes a payment for an item.
Claim 21
Dependent Claim
16 words
The method for conducting the electronic transaction of claim 20,
wherein the item comprises a good.
Claim 22
Dependent Claim
16 words
The method for conducting the electronic transaction of claim 20,
wherein the item comprises a service.
Claim 23
Dependent Claim
27 words
The method for conducting the electronic transaction of claim 1,
wherein the electronic transaction includes a conversion of a first value type to a
second value type.
Claim 24
Dependent Claim
25 words
The method for conducting the electronic transaction of claim 23,
wherein the conversion occurs only in the event of preapproval for conversion by
the payee.
Claim 25
Dependent Claim
17 words
The method for conducting the electronic transaction of claim 1,
wherein the electronic transaction includes foreign exchange.
Claim 26
Dependent Claim
34 words
The method for conducting the electronic transaction of claim 1,
wherein receiving the calculated payor payment includes: accessing an account for the payor in an account database; and deducting a value from the account.
Claim 27
Dependent Claim
21 words
The method for conducting the electronic transaction of claim 1,
wherein receiving the calculated payor payment includes receiving an electronic
payment.
Claim 28
Dependent Claim
28 words
The method for conducting the electronic transaction of claim 27,
wherein the electronic payment includes one from the group consisting of
Mondex, eCash, Visa Cash, and Cyber Coin.
Claim 29
Dependent Claim
16 words
The method for conducting the electronic transaction of claim 27,
wherein electronic payment includes national currency.
Claim 30
Dependent Claim
17 words
The method for conducting the electronic transaction of claim 27,
wherein electronic payment includes frequent flyer miles.
Claim 31
Dependent Claim
16 words
The method for conducting the electronic transaction of claim 27,
wherein electronic payment includes loyalty points.
Claim 32
Dependent Claim
36 words
The method for conducting the electronic transaction of claim 1,
wherein paying the payee payment to the payee includes: accessing an account for the payee in an account database; and crediting a value to the account.
Claim 33
Dependent Claim
23 words
The method for conducting the electronic transaction of claim 1,
wherein paying the payee payment to the payee includes receiving an electronic
payment.
Claim 34
Dependent Claim
33 words
The method for conducting the electronic transaction of claim 1,
further comprising: providing options for selection of one from a plurality of payor value types;
and the payor selecting the payor value type.
Claim 35
Dependent Claim
25 words
The method for conducting the electronic transaction of claim 34,
wherein the plurality of payor value types are included in a payor value types
database.
Claim 36
Dependent Claim
24 words
The method for conducting the electronic transaction of claim 34,
further comprising receiving from the payee an approval of the payor value type
selection.
Claim 37
Dependent Claim
38 words
The method for conducting the electronic transaction of claim 1,
further comprising: providing the payor with an option to setup an account; receiving the payor selection to setup an account; and setting up an account for the payor.
Claim 38
Dependent Claim
26 words
The method for conducting the electronic transaction of claim 37,
further comprising receiving electronic payment from the payor for crediting to the
account for the payee.
Claim 39
Dependent Claim
38 words
The method for conducting the electronic transaction of claim 1,
further comprising: providing the payee with an option to setup an account; receiving the payee selection to setup an account; and setting up an account for the payee.
Claim 40
Dependent Claim
26 words
The method for conducting the electronic transaction of claim 39,
further comprising receiving electronic payment from the payee for crediting to
the account for the payee.
Claim 41
Dependent Claim
21 words
The method for conducting the electronic transaction of claim 1,
wherein the electronic transaction includes receiving an input from a terminal.
Claim 42
Dependent Claim
17 words
The method for conducting the electronic transaction of claim 41,
wherein the terminal comprises a personal computer.
Claim 43
Independent Claim
92 words
A system for conducting an electronic transaction, comprising: a first terminal receiver for receiving a payor value type selection for the
electronic transaction from a payor; a server connected to the first terminal receiver, the server including: a calculator for calculating a payor payment equivalent to the payee
payment; and a processor for determining a payee value type selection and a payee
payment and for initiating payment of the payee payment to the payee;
and a second terminal receiver connected to the server for receiving the
calculated payor payment from the payor.
Claim 44
Independent Claim
51 words
A method for conducting an electronic transaction, comprising: receiving a value of a first value type; receiving a selection of a second value type; converting the value of the first value type to an equivalent value of the
second value type; and providing the equivalent value of the second value type.
Claim 45
Dependent Claim
28 words
The method for conducting the electronic transaction of claim 44,
wherein converting the value to an equivalent value of the second value type
includes adding a transaction cost.
References Cited (Backward Citations)
No citation records indexed.
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