APPLICATION CURRENCY CODE FOR DYNAMIC CURRENCY CONVERSION TRANSACTIONS WITH CONTACTLESS CONSUMER TRANSACTION PAYMENT DEVICE

• US 20100036741A1
• Filed: 08/03/2009
• Published: 02/11/2010
• Est. Priority Date: 08/04/2008
• Status: Active Application

• Current Assignee: Visa USA, Inc. (Visa, Inc.)
• Original Assignee: Visa USA, Inc. (Visa, Inc.)
• Inventors: Cleven, Marc
• Application Number:
  US12/534,809
• Publication Number:
  US 20100036741A1
• Time in Patent Office: Days
• US Class Current: 705/17
• CPC Class Codes: G06Q 20/105 involving programming of a portable memory device, e.g. IC cards, "electronic purses"
• CPC Class Codes: G06Q 20/20 Point-of-sale [POS] network systems
• CPC Class Codes: G06Q 20/204 comprising interface for record bearing medium or carrier for electronic funds transfer or payment credit
• CPC Class Codes: G06Q 20/24 Credit schemes, i.e. "pay after"
• CPC Class Codes: G06Q 20/381 Currency conversion
• CPC Class Codes: G06Q 20/40 Authorisation, e.g. identification of payer or payee, verification of customer or shop credentials; Review and approval of payers, e.g. check credit lines or negative lists

Abstract

Data is wirelessly reading from a consumer'"'"'s smart card and then parsed to derive the consumer'"'"'s account upon which a transaction is to be conducted between a merchant and an Application Currency Code (ACC) corresponding to a second currency. The amount of the transaction is converted from the merchant'"'"'s local currency to the second currency and included in an authorization request sent to the merchant'"'"'s acquirer. A receipt for the amount of the transaction in the second currency is rendered if the transaction is authorized.

Claims

1. A method comprising a plurality of steps each being performed by hardware executing software, wherein the steps include:

for one or more goods or services to be purchased by an account holder from a merchant in a transaction conducted on an account issued to the consumer by an issuer, summing a local currency amount for each of the goods and services to arrive at a total amount in a first currency that is a local currency of the merchant;

wirelessly reading data stored in memory of a Contactless Consumer Portable Transaction Payment Device (CCPTPD);

parsing the data read from the CCPTPD, using a predetermined format corresponding to the data being read, to obtain account information that includes;

an Application Currency Code (ACC) corresponding to a second currency; and

an identifier for the account upon which the transaction is to be conducted;

determining from the parsed data whether the account information identifies a domestic account or international account;

when the account information identifies;

a domestic account, forming an authorization request message so as to include the total amount in the first currency; and

an international account;

obtaining a conversion factor that includes a conversion rate from the first currency to the second currency plus any additional currency conversion charges;

applying the conversion factor to the total amount in the first currency to derive a total amount in the second currency; and

forming the authorization request message so as to include the total amount in the second currency;

sending the authorization request message, including information sufficient to identify the account upon which the transaction is to be conducted, for delivery to a logical address for an acquirer for the merchant;

receiving, in response to the authorization request message, an authorization response authorizing the transaction; and

rendering, after receiving the authorization response authorizing the transaction, a receipt that includes funds to be withdrawn from the account for the transaction.

5. A computer readable medium comprising the software of claim 1 encoded in a hardware storage device.

2. The method as defined in Clam 1, wherein the steps of obtaining a conversion factor that includes a conversion rate from the first currency to the second currency plus any additional currency conversion charges and applying the conversion factor to the total amount in the first currency to derive a total amount in the second currency comprise a dynamic currency conversion process.

3. The method as defined in Clam 1, wherein the hardware is one of:

a Point of Service terminal (POS);

an automated teller machine (ATM); and

equipment associated with telephone or Internet sales.

4. The method as defined in Clam 1, wherein wirelessly reading data comprises reading the data with telecommunications apparatus selected from the group consisting of:

a near field communication (NFC) protocol and RFID enabled card reader;

Bluetooth communications apparatus;

Wi-Fi communications apparatus;

infrared communications apparatus;

RFID communications apparatus;

and combinations thereof.

6. A method comprising a plurality of steps each being performed by hardware executing software, wherein the steps include:

for one or more goods or services to be purchased by an account holder from a merchant in a transaction conducted on an account issued to the consumer by an issuer, summing a local currency amount for each of the goods and services to arrive at a total amount in a first currency that is a local currency of the merchant;

wirelessly reading data stored in memory of a Contactless Consumer Portable Transaction Payment Device (CCPTPD);

deriving, at least in part from the data read from the CCPTPD, account information that includes;

an Application Currency Code (ACC) corresponding to a second currency; and

an identifier for the account upon which the transaction is to be conducted;

determining from the parsed data whether the account information identifies a domestic account or international account;

when the account information identifies;

a domestic account, forming an authorization request message so as to include the total amount in the first currency; and

an international account;

determining whether the second currency is supported for dynamic currency conversion;

when the second currency is not supported for dynamic currency conversion, forming the authorization request message so as to include the total amount in the first currency;

when the second currency is supported for dynamic currency conversion;

obtaining a conversion factor that includes a conversion rate from the first currency to the second currency plus any additional currency conversion charges;

applying the conversion factor to the total amount in the first currency to derive a total amount in the second currency; and

forming the authorization request message so as to include the total amount in the second currency;

sending the authorization request message, including information sufficient to identify the account upon which the transaction is to be conducted, for delivery to a logical address for an acquirer for the merchant;

receiving, in response to the authorization request message, an authorization response authorizing the transaction; and

rendering, after receiving the authorization response authorizing the transaction, a receipt that includes funds to be withdrawn from the account for the transaction.

10. A computer readable medium comprising the software of claim 6 encoded in a hardware storage device.

7. The method as defined in Clam 6, wherein the steps of obtaining a conversion factor that includes a conversion rate from the first currency to the second currency plus any additional currency conversion charges and applying the conversion factor to the total amount in the first currency to derive a total amount in the second currency comprise a dynamic currency conversion process.

8. The method as defined in Clam 6, wherein the hardware is one of:

a Point of Service terminal (POS);

an automated teller machine (ATM); and

equipment associated with telephone or Internet sales.

9. The method as defined in Clam 6, wherein wirelessly reading data comprises reading the data with telecommunications apparatus selected from the group consisting of:

a near field communication (NFC) protocol and RFID enabled card reader;

Bluetooth communications apparatus;

Wi-Fi communications apparatus;

infrared communications apparatus;

RFID communications apparatus;

and combinations thereof.

11. A method comprising a plurality of steps each being performed by hardware executing software, wherein the steps include:

for one or more goods or services to be purchased by an account holder from a merchant in a transaction conducted on an account issued to the consumer by an issuer, summing a local currency amount for each of the goods and services to arrive at a total amount in a first currency that is a local currency of the merchant;

wirelessly reading data stored in memory of a Contactless Consumer Portable Transaction Payment Device (CCPTPD);

deriving, at least in part from the data read from the CCPTPD, account information that includes;

an Application Currency Code (ACC) corresponding to a second currency; and

an identifier for the account upon which the transaction is to be conducted;

determining from the parsed data whether the account information identifies a domestic account or international account;

when the account information identifies;

a domestic account, forming an authorization request message so as to include the total amount in the first currency; and

an international account;

determining whether the second currency is supported for dynamic currency conversion;

when the second currency is not supported for dynamic currency conversion, forming the authorization request message so as to include the total amount in the first currency; and

when the second currency is supported for dynamic currency conversion;

obtaining a conversion factor that includes a conversion rate from the first currency to the second currency plus any additional currency conversion charges;

applying the conversion factor to the total amount in the first currency to derive a total amount in the second currency;

rendering a display including the total amount in the second currency;

receiving input indicating whether the total amount in the second currency for the transaction is acceptable by the consumer;

when the input indicates that the total amount in the second currency for the transaction is not acceptable by the consumer, forming the authorization request message so as to include the total amount in the first currency;

when the input indicates that the total amount in the second currency for the transaction is acceptable by the consumer, forming the authorization request message so as to include the total amount in the second currency;

sending the authorization request message, including information sufficient to identify the account upon which the transaction is to be conducted, for delivery to a logical address for an acquirer for the merchant;

receiving, in response to the authorization request message, an authorization response authorizing the transaction; and

rendering, after receiving the authorization response authorizing the transaction, a receipt that includes funds to be withdrawn from the account for the transaction.

15. A computer readable medium comprising the software of claim 11 encoded in a hardware storage device.

12. The method as defined in Clam 11, wherein the steps of obtaining a conversion factor that includes a conversion rate from the first currency to the second currency plus any additional currency conversion charges and applying the conversion factor to the total amount in the first currency to derive a total amount in the second currency comprise a dynamic currency conversion process.

13. The method as defined in Clam 11, wherein the hardware is one of:

a Point of Service terminal (POS);

an automated teller machine (ATM); and

equipment associated with telephone or Internet sales.

14. The method as defined in Clam 11, wherein wirelessly reading data comprises reading the data with telecommunications apparatus selected from the group consisting of:

a near field communication (NFC) protocol and RFID enabled card reader;

Bluetooth communications apparatus;

Wi-Fi communications apparatus;

infrared communications apparatus;

RFID communications apparatus;

and combinations thereof.