Kurt H Zumwalt

US Patent:

20120330718, Dec 27, 2012

Filed:

Jun 24, 2011

Appl. No.:

13/168834

Inventors:

Rohit Jain - Woodinville WA, US
Mary Katherine Bowman - Seattle WA, US
Richard D. Hunt - Seattle WA, US
Kurt Harold Zumwalt - Seattle WA, US

International Classification:

G06Q 20/00
G06Q 40/00

US Classification:

705 731

Abstract:

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.