Judith A Turek

US Patent:

20090240619, Sep 24, 2009

Filed:

Mar 21, 2008

Appl. No.:

12/053419

Inventors:

Theodore VanDeburg - Denver CO, US
Douglas A. Swartz - Omaha NE, US
Elizabeth M. Toeniskoetter - Denver CO, US
Judith K. Turek - Omaha NE, US

Assignee:

First Data Corporation - Greenwood Village CO

International Classification:

G06Q 40/00

US Classification:

705 39, 705 35

Abstract:

Systems and methods for settling stored value account transactions between merchants in countries that use different currencies. A host computer system receives transaction data resulting from a number of stored value account transactions performed at a number of merchants. The merchants are grouped into separate entities with separate accounting systems, and at least one entity operates in a different country than another entity. The transactions include any combination of origination transactions, redemption transactions, and reload transactions, and the transaction data includes for each redemption and reload transaction a transaction amount, locations in which the transaction occurred and the account was originated and the base currency of the account and the currency in which the transaction is performed. Periodically, accounts are settled between the entities in each country using a central country bank account in each country, and periodically accounts are settled between pairs of central country bank accounts.