Douglas M Raymond

US Patent:

20150294413, Oct 15, 2015

Filed:

Apr 11, 2014

Appl. No.:

14/250870

Inventors:

- Purchase NY, US
Ina GOLDBERG - New York NY, US
Douglas Michael RAYMOND - New Canaan CT, US
Austin KAUH - Wilton CT, US
Cleveland Michael ELLISON - Montclair NJ, US

Assignee:

MasterCard International Incorporated - Purchase NY

International Classification:

G06Q 40/04

Abstract:

A method for providing an assured currency exchange rate includes: storing, in an account database, an account profile, wherein the account profile includes data related to a payment account including at least an account identifier, a conversion rule, and a period of time; receiving, by a receiving device, an authorization request for a payment transaction, wherein the authorization request includes at least the account identifier, a transaction amount in a first currency, and a transaction time and/or date that is within the period of time; calculating, by a processing device, a new transaction amount in a second currency based on application of the conversion rule to the transaction amount in the first currency; updating, by the processing device, the authorization request to include the calculated new transaction amount in the second currency; and forwarding, by a transmitting device, the updated authorization request.