SG10201800329QA - Method and system for processing a cross-border payment - Google Patents

Method and system for processing a cross-border payment

Info

Publication number
SG10201800329QA
SG10201800329QA SG10201800329QA SG10201800329QA SG10201800329QA SG 10201800329Q A SG10201800329Q A SG 10201800329QA SG 10201800329Q A SG10201800329Q A SG 10201800329QA SG 10201800329Q A SG10201800329Q A SG 10201800329QA SG 10201800329Q A SG10201800329Q A SG 10201800329QA
Authority
SG
Singapore
Prior art keywords
payment
processing
cross
border
data
Prior art date
Application number
SG10201800329QA
Inventor
Haribabu Srinivasan
Ravi Pareek
Sachin Kumar Agarwalla
Twinkle Mahendra Parmar
Vasudevan Chandrasekaran
Original Assignee
Mastercard International Inc
Priority date (The priority date is an assumption and is not a legal conclusion. Google has not performed a legal analysis and makes no representation as to the accuracy of the date listed.)
Filing date
Publication date
Application filed by Mastercard International Inc filed Critical Mastercard International Inc
Priority to SG10201800329QA priority Critical patent/SG10201800329QA/en
Priority to EP18209006.8A priority patent/EP3511888A1/en
Priority to US16/218,917 priority patent/US20190220853A1/en
Publication of SG10201800329QA publication Critical patent/SG10201800329QA/en

Links

Classifications

    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/381—Currency conversion
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/02—Payment architectures, schemes or protocols involving a neutral party, e.g. certification authority, notary or trusted third party [TTP]
    • G06Q20/027—Payment architectures, schemes or protocols involving a neutral party, e.g. certification authority, notary or trusted third party [TTP] involving a payment switch or gateway
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/08—Payment architectures
    • G06Q20/10—Payment architectures specially adapted for electronic funds transfer [EFT] systems; specially adapted for home banking systems
    • G—PHYSICS
    • G06—COMPUTING; CALCULATING OR COUNTING
    • G06Q—INFORMATION AND COMMUNICATION TECHNOLOGY [ICT] SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES; SYSTEMS OR METHODS SPECIALLY ADAPTED FOR ADMINISTRATIVE, COMMERCIAL, FINANCIAL, MANAGERIAL OR SUPERVISORY PURPOSES, NOT OTHERWISE PROVIDED FOR
    • G06Q20/00—Payment architectures, schemes or protocols
    • G06Q20/38—Payment protocols; Details thereof
    • G06Q20/382—Payment protocols; Details thereof insuring higher security of transaction

Landscapes

  • Business, Economics & Management (AREA)
  • Accounting & Taxation (AREA)
  • Engineering & Computer Science (AREA)
  • Finance (AREA)
  • General Business, Economics & Management (AREA)
  • Physics & Mathematics (AREA)
  • Strategic Management (AREA)
  • General Physics & Mathematics (AREA)
  • Theoretical Computer Science (AREA)
  • Development Economics (AREA)
  • Economics (AREA)
  • Computer Security & Cryptography (AREA)
  • Financial Or Insurance-Related Operations Such As Payment And Settlement (AREA)

Abstract

METHOD AND SYSTEM FOR PROCESSING A CROSS-BORDER PAYMENT A method for processing a cross-border payment includes receiving inbound payment data from a first financial institution located in a first country. The inbound payment data is in a first message format. The method further includes generating a payment request based on the inbound payment data such that the payment request is in the second message format, and processing the generated payment request. Processing comprises approving or declining the payment request. If the payment request is approved, the method further includes generating outbound payment data such that the outbound payment data is in the first message format, and sending the outbound payment data to a second financial institution located in a second country. A system for processing a cross- border payment is also provided. FIG. 2
SG10201800329QA 2018-01-15 2018-01-15 Method and system for processing a cross-border payment SG10201800329QA (en)

Priority Applications (3)

Application Number Priority Date Filing Date Title
SG10201800329QA SG10201800329QA (en) 2018-01-15 2018-01-15 Method and system for processing a cross-border payment
EP18209006.8A EP3511888A1 (en) 2018-01-15 2018-11-28 Method and system for processing a cross-border payment
US16/218,917 US20190220853A1 (en) 2018-01-15 2018-12-13 Method and system for processing a cross border payment

Applications Claiming Priority (1)

Application Number Priority Date Filing Date Title
SG10201800329QA SG10201800329QA (en) 2018-01-15 2018-01-15 Method and system for processing a cross-border payment

Publications (1)

Publication Number Publication Date
SG10201800329QA true SG10201800329QA (en) 2019-08-27

Family

ID=64556833

Family Applications (1)

Application Number Title Priority Date Filing Date
SG10201800329QA SG10201800329QA (en) 2018-01-15 2018-01-15 Method and system for processing a cross-border payment

Country Status (3)

Country Link
US (1) US20190220853A1 (en)
EP (1) EP3511888A1 (en)
SG (1) SG10201800329QA (en)

Families Citing this family (10)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
CN110945551A (en) 2017-05-30 2020-03-31 维萨国际服务协会 System, method and computer program product for maintaining transaction integrity on a public network
US10725798B2 (en) * 2018-12-05 2020-07-28 Visa International Service Association Method, system, and computer program product for dynamic development of an application programming interface
US20210073751A1 (en) * 2019-09-09 2021-03-11 Visa International Service Association Global merchant gateway
US11514412B2 (en) * 2019-12-17 2022-11-29 Mastercard International Incorporated Systems and methods for real time data rich cross border payment transactions
US11669367B2 (en) * 2020-04-01 2023-06-06 Bank Of America Corporation System and methods for generation and analysis of real-time resource requests
US11875635B2 (en) 2020-07-29 2024-01-16 Aristocrat Technologies, Inc. Mobile gaming system for remote game play
US11645643B2 (en) 2020-09-29 2023-05-09 Bank Of America Corporation System for harnessing a connected network to securely verify a transaction
US11922762B2 (en) * 2020-11-11 2024-03-05 Aristocrat Technologies, Inc. Digital wallet systems and methods with responsible gaming
CN113783860B (en) * 2021-09-01 2023-11-28 建信金融科技有限责任公司 Message processing method, device, equipment and storage medium based on visual configuration
WO2024072252A1 (en) * 2022-09-27 2024-04-04 Visa International Service Association Efficient data processing using data aggregator

Family Cites Families (2)

* Cited by examiner, † Cited by third party
Publication number Priority date Publication date Assignee Title
GB2369711A (en) * 2000-11-14 2002-06-05 Vcheq Com Pte Ltd An electronic funds transfer system for processing multiple currency transactions
US20150278776A1 (en) * 2014-03-27 2015-10-01 Bank Of America Corporation Hybrid, electronically-labeled, payment transmission solutions

Also Published As

Publication number Publication date
US20190220853A1 (en) 2019-07-18
EP3511888A1 (en) 2019-07-17

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