BG113338A - Cryptocurrency and digital currency payment network - Google Patents

Abstract

The disclosed technology/invention addresses the need for a state of the art payment service technology capable of accepting a wider variety of currencies, including fiat currencies (levs, euros, etc.) and non-fiat currencies, including virtual currencies, cryptocurrencies, bitcoin, etherum and so forth) than a traditional customer-to-merchant payment system, in particular for a payment service in order to solve or alleviate problems related to transactions in such currencies. Particularly, the payment service described herein can facilitate real-time transactions (in seconds), allowing the customer to pay in any currency of their choice, while the merchant can receive payment in the currency of their choice. In some cases, the payment service may remove barriers to transactions common to non-fiat currencies while maintaining the benefits of transactions in the said non-fiat currencies. One example can be when we make transactions with virtual currency, the payment service described herein can eliminate or significantly reduce the risk of transactions with rogue states and thus avoid latency.

Description

Virtual currencies, and especially cryptocurrencies such as bitcoin, etherium (ether), lightcoin, etc., have been growing in popularity in recent years. Holders of bitcoin and other cryptocurrencies are not tied to any government, are decentralized and allow direct transactions, while maintaining the confidence and stability of fiat currencies.

Bitcoin, in particular, appears to be a cryptocurrency that is more than a passing fad and has a total value of billions in circulation, while retaining significant economic potential.

However, despite the popularity of cryptocurrencies to date, all cryptocurrencies face the same drawback, namely that they are not widely accepted. Currently, cryptocurrencies, such as bitcoins, are not accepted by most retailers or even most online retailers. The lack of mass acceptance of cryptocurrency so far may be due to a number of different factors. On the one hand, the exchange rates of cryptocurrencies with fiat currencies can vary considerably and this can be a risk that business owners as well as customers do not want to take. It is also known that cryptocurrencies are associated with long transaction times. It is not practical for a café to sell coffee in a transaction that may take hours before it is confirmed by recording the transaction in the block chain. Another deterrent to cryptocurrency payments is that cryptocurrencies are linked to anonymous identities. This feature of digital currency makes it susceptible to manipulation and risk.

DETAILED DESCRIPTION:

Below we consider various examples of the present technology / invention. While discussing specific examples and situations, it should be borne in mind that this is done for illustrative purposes only. One skilled in the art will recognize that other components and configurations may be used without departing from the spirit and scope of the present technology / invention.

The technology / invention disclosed herein addresses the need for a state of the art payment service technology capable of accepting a greater variety of currencies, including fiat currencies (levs, euros, pounds, US dollars, etc.) and non-fiat currencies, including virtual currencies. currencies, including cryptocurrency (bitcoin, ether, etc.), commercial

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK securities (loans, contracts, forms, etc.) and securities (stocks, bonds, derivatives, etc.) than a traditional payment system in a customer-trader transaction, and especially for payment service to solve or alleviate problems related to transactions with such currencies. In particular, the payment service described herein may facilitate real-time (or substantially real-time) transactions by allowing the customer to pay in any currency of their choice, while the merchant may also receive payment in the currency of his choice. In some cases, the payment service may remove barriers to transactions common to non-fiat currencies while maintaining the benefits of transactions in those non-fiat currencies. For example, when making virtual currency transactions, the payment service can eliminate or significantly reduce the risk of criminal transactions and avoid the latency common to virtual currency transactions, while maintaining the anonymous benefits of virtual currency transactions.

In particular, the technology / invention presented here allows the first party to pay in any currency, while allowing the second party to receive any currency. In this way, the technology provides advantages that remove barriers to transactions that may hinder international trade or trade in certain types of currency.

In addition, the present technology / invention, through the availability of a reliable payment service, can increase the credibility of multi-currency transactions.

Such increased trust can also be an important benefit of the present technology / invention when a party to the transaction wishes to remain anonymous to another party to the transaction. Anonymity can reduce trust, and in some cases, transactions with anonymous parties may even be illegal. The present technology / invention includes systems and methods for overcoming such concerns, especially in cryptocurrency transactions, where aliases are common.

The present technology / invention further overcomes the disadvantages of latency that are characteristic of cryptocurrency transactions. For example, a bitcoin transaction can take an average of 10 minutes to confirm. This is too long for many transactions. The present technology / invention can process and approve a cryptocurrency transaction in near real time, i. for seconds. In some cases, the approval of cryptocurrency transactions may be similar to the time required to approve a credit card transaction.

In this regard, this description document makes references to specific currencies such as bitcoin or the euro. Such references should only be understood as examples of other currencies of a similar nature. For example, references to bitcoin should be understood as interchangeable for each cryptocurrency and / or digital currency, and in particular cryptocurrencies stored in a public / private blockchain. References to the euro

CRYPT CURRENCY AND DIGITAL CURRENCY PAYMENT NETWORK should be understood as interchangeable for any fiat currency managed by a central authority, state (Bulgaria, France, USA, China, etc.) or a regional authority (European Union, etc.).

Also, some exemplary implementations of the new payment service (including servers and server software, commercial devices and software and client devices and software) are described below with reference to the relevant figures. However, embodiments herein are not limited to the specific examples provided and may be extended to other environments, other system architectures, other types of merchants, etc., as will be apparent to those skilled in the art.

FIG. 1A illustrates an exemplary environment 100, which includes a merchant 102 performing transactions with a customer 104 (or "user 104") for items 106 offered by the merchant 102. FIG. 1 also illustrates a payment service system 108 (also called a 'payment service') connected to a point-of-sale (POS) device 105 and a customer device 103 via a network 110 to allow payment instruments to a customer 104.

Customer 104 may engage in transactions with merchant 102 to receive items 106. Customer 104 may provide, as shown in 112, cash or other types of payment instruments to merchant 102, together with requests for items offered by merchant 102.

A merchant 102 may use a POS device 105 to accept payment from customers 104. A POS device 105 may include any type of mobile or non-mobile device that includes instances of a commercial application running on the devices.

The merchant application may provide POS functionality to POS device 105 to enable merchant 102 (eg owners, employees, etc.) to accept payments from customers 104. In some types of businesses, POS device 105 may correspond to a store or another place of business of the trader and thus a location can be fixed, which usually does not change daily. However, in other types of businesses, the location of POS device 105 may change from time to time, for example in the case of a dealer driving a food truck, a street vendor, a taxi driver, etc. or there is otherwise a mobile business, for example in the case of a trader who sells items in the buyer's home, etc.

As ss meant here, the trader may include any business engaged in offering goods or services for acquisition by customers. Actions attributed to a trader may include actions performed by owners, employees or other agents of the trader, and thus no distinction is made here unless specifically noted. In addition, it should be borne in mind that the customer may include any entity that acquires goods or services from a trader, for example by purchasing, renting, leasing, borrowing, licensing or the like. Hereinafter, goods and / or services offered by traders may be referred to as articles, e.g. item 106. In this way, the trader and the customer can

A CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK interact to conduct a transaction in which the customer acquires item 106 from merchant 102 and in return customer 104 provides payment 112 to merchant 102.

As used herein, a transaction may involve a financial transaction for the acquisition of the item (s) between customer 104 and merchant 102. For example, when paying for a transaction, customer 104 may provide the amount due to the merchant, using cash or another payment instrument 112 (eg debit card, credit card, retained value card or gift voucher, via an electronic payment application on a device 103 worn by the customer, or the like). The merchant may interact with the POS device 105 to process transactions, for example by entering (eg manually, through a magnetic card reader, etc.) identifiers associated with payment instrument 112. For example, the customer's payment instrument may include a card, containing one or more magnetic strips to provide a card and information to the customer when sliding into a card reader. In other cases / examples other types of payment instruments may be used, such as smart cards with a built-in memory chip that is read by the device when the card is "immersed" in the reader, such as chips corresponding to Europay, MasterCard, Visa (EMV). ) standard, ie EMV cards. In other cases / examples other types of payment instruments include cards or computing devices that communicate via radio frequencies such as radio frequency identification markers and near field communication devices and the like.

During the transaction, the POS device 105 may determine transaction information describing the transaction, such as the payment instrument identifier, the amount of payment received from the customer, the item (s) acquired from the customer, time, place and date of the transaction, payment network 140 related to the payment instrument, issuing the bank of the payment instrument, name or user account of the client, contact information of the client, type of currency, etc. POS device 105 may send transaction information to payment service 108 via network 110, either substantially simultaneously with the transaction (in the case of online transactions) or later when POS device 105 is online (in the case of offline transactions) .

In an offline transaction, POS device 105 may store one or more transaction-related characteristics (ie, transaction information), such as transaction price, hour of the day the transaction occurred, day of the week in which the transaction occurred. occurred, the location where the transaction took place, the item received by the customer, the identity and / or contact information of the customer and the payment instrument used in the transaction. After performing an offline transaction with client 104, POS device 105 may provide the stored information (or some subset thereof) to the payment service 108 over network 110. Network 110 may represent any one or more wired or wireless networks, such as Wi-Fi network, cellular network or the like. In an online transaction, the POS device 105 may send this information to the payment service 108 via the network 110 substantially simultaneously with the transaction with the customer.

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK

After merchant 102 receives payment information from customer 104, merchant 102 may send relevant authorization requests, along with information about relevant transactions, to payment service 108, as shown in 114. Payment service 108 may include a service for processing payments 126, trade profiles 130 and customer profiles 132.

The payment processing service 126 may operate to obtain transaction information from the merchant's POS device 105 and attempt to authorize the payment instrument used to conduct the transaction. The payment processing service 126 may then send an indication of whether the payment instrument has been approved or rejected back to the POS device 105, as shown in 116.

In principle, when a customer and a merchant enter into an electronic payment transaction, the transaction is processed by electronic transfer of funds from a financial account related to the customer to a financial account related to the merchant. As such, the payment processing service 126 may communicate with one or more computing devices of a payment card network 140 (or a "card payment network"), eg MasterCard®, VISA®, via the payment network (s) 110 of financial transactions electronically. The payment processing service 126 may also communicate with one or more computing devices of one or more banks, processing / acquisition services or the like on the network 110. In addition, the payment processing service 126 may communicate with an acquiring bank and / or issuing bank and / or bank maintaining customer accounts for electronic payments. The payment processing service 126 may also communicate with or access customer and merchant accounts maintained by a payment service 108.

The acquiring bank may be a registered member of a card association (eg Visa®, MasterCard®) and may be part of a 140 card payment network. The issuing bank may issue credit cards to buyers and may pay acquiring banks for purchases made by cardholders to whom the issuing bank has issued a payment card. Accordingly, in some examples, the acquiring bank's computing device (s) may be included in the card payment network and may communicate with the computing bank's computing devices to receive payment. In addition, in some examples, the customer may use a debit card instead of a credit card, in which case the bank's bank computing devices corresponding to the debit card may receive messages about a transaction in which the customer is involved. In addition, there may be computing devices of other financial institutions involved in certain types of transactions or in alternative system architectures, and thus it should be borne in mind that the above are just a few examples for the purposes of the discussion.

In transactions involving cryptocurrency, the payment service 108 may communicate via network (s) 110 with a cryptocurrency payment network 145. Such networks may include, for example, the Bitcoin network, the Ethereum network, and the like. Cryptocurrency networks usually do

A CRYPT CURRENCY AND DIGITAL CURRENCY PAYMENT NETWORK connects to a network of countries that cryptographically verify and validate transactions and record transactions on copies of a distributed book, commonly called a blockchain. Once the transaction is confirmed, the cryptocurrency payment network can approve the transaction by saving the transaction in the blockchain.

While FIG. 1 illustrates merchants 102 sending transaction data directly to the payment service 108 as part of the request for authorization of the payment instrument, in some cases other entities (eg merchant-related banks or customer payment instruments) may provide transaction data, such as) as part of a batch, periodic process.

While consumer profiles 132 may store indications of consumer preferences, trade profiles 130 may store information related to those of retailers 102. For example, trade profiles 130 may indicate a class of items offered by respective retailers (eg coffee products, dairy products, clothing, equipment, etc.), type of business of the trader (eg restaurant, cafe, retail store, etc.), geographical location of the trader and the like.

In some cases, a computing device connected to the merchant (eg POS device 105, merchant servers, etc.) determines when the customer visits the physical premises or digital presence of the merchant. For example, the device 103 of the customer 104 may include an application (e.g., an application provided by a payment service 108) that communicates with the POS device 105 of the merchant 102 through near-field communication methods (e.g., Bluetooth, etc.). Therefore, when the customer visits the physical premises - the store of the merchant 102, for example, the POS device 105 can detect the presence of the customer device 103. The POS device can accordingly determine the presence of the customer. In another example, one or both POS devices 105 and client device 103 may share their location (e.g., GPS coordinates) on a common service to determine when devices are located within threshold proximity to each other and to mediate a transaction between client device 103 and POS. device 105.

In another example, client 104 may use client device 103 to "register" at the merchant's location, and POS device 105 may receive an indication of that transaction. When the customer visits the digital presence of a merchant 102 (e.g. a website, etc.), the customer 104 may log in or otherwise provide information (e.g. a cookie on the device 103) from which the merchant determines that the customer is with the merchant. For the purposes of the examples, it should be borne in mind that the merchant and / or the payment service 108 may determine when the customer is present with the merchant in any other way. In any case, after the payment service 108 receives an indication that customer 104 is with a merchant 102, the payment service 108 may determine whether to send one or more previously expressed preferences to the merchant's customer.

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK

In addition, customer 104 may wish to receive a copy of a payment application, such as a mobile wallet application, from the payment service 108. FIG. 1 illustrates, (at 118), that customer 104 may send payment requests to payment service 108. In response (at 120), payment service 108 may provide copies of the payment application back to customer device 103. In addition, the payment service 108 can map the identification of the payment application instance to the user profile.

According to the implementation of this technology, customers and merchants can send and receive payments in virtual currencies through the payment service for the purchase of items or a selected set of items. In other cases, customers send payments in virtual currencies through the payment service, while the payment service converts the first virtual currency into another virtual currency or fiat currency of the merchant's choice.

FIG. 1B illustrates another embodiment of exemplary medium 100, with the difference that FIG. 1B, the transaction is between a first user 150 operating device 152 and a second user 154 operating device 156. Devices 152 and 156 may be a computing device with an application provided by a payment service 108 running on them. In some cases, the app may be an on-site sales app. In other cases, the application may be a mobile wallet application. In the third case, the application may be an application provided by a third party capable of accessing at least one payment account.

FIG. 1B illustrates the broader concept that the present technology / invention provides that currency can be sent from any country of any nature (merchant, consumer, bank, etc.) to any other.

FIG. 2 illustrates an exemplary system architecture that allows client 104 to pay with virtual currency, especially and especially cryptocurrency, which uses a blockchain to record transactions. FIG. 2 is designed to address at least the above challenges common to payment transactions involving virtual currencies.

As stated with respect to FIG. 1, the payment service 108 may store a customer profile 132. The customer profile 132 may include customer data 202, which may include customer identification information (name, contact information, etc.), records of past transactions 205 including payment services 108 by customer 104, related account information (credit card information, bank account information, etc.), information about services used by user account 132 (e.g., account uses mobile wallet application 210 provided by payment service 108, etc.)

In addition to the customer data 202, the customer profile 132 may also include entries / information / ledger / for all accounts managed by payment service 108 on behalf of

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK client 104. For example, as shown in FIG. 2, the client profile 132 includes a client record / information / ledger / 204 for cryptocurrency and a client record / information / ledger / 206 for fiat currency, which shows that client 104 uses payment service 108 to manage accounts, respectively cryptocurrency (such as bitcoin) and fiat currency (such as the euro). In some cases, the user profile 132 for client 104 may include entries for more or less accounts.

Each record / information / ledger / (204,206) can reflect a positive balance when client 104 finances the accounts. An account can be financed by transferring currency in the form associated with the account from an external account (eg transferring the value of a cryptocurrency to a payment service and the value is credited as a balance in record / information / ledger / for cryptocurrencies 204) or by purchasing of currency in a form related to the payment service account using a currency in a different form (eg purchasing the value of a cryptocurrency from a payment service 108 using the value of the fiat currency reflected in the fiat currency 206 and crediting the value of the cryptocurrency in a cryptocurrency record / information / ledger / 204), or by making a transaction with another user (customer or merchant) of the payment service, where the account receives incoming currency. In some embodiments, the user profile 132 may include preferences for maintaining cryptocurrency balances. In such embodiments, the payment service 108 may automatically debit a fiat currency ledger 206 to increase the cryptocurrency record / ledger 204, or a customer-associated payment card when the cryptocurrency balances fall below a certain level. Conversely, in some cases, the payment service may automatically credit a fiat currency record / information / ledger 206 to reduce the cryptocurrency record / information / ledger / 204 when cryptocurrency balances rise above a certain level. In some cases, automatic transactions may be further defined by the cryptocurrency and fiat currency exchange rates, so that transactions to buy or sell cryptocurrencies may occur when exchange rates are favorable.

By specifically referring to cryptocurrency account financing, customer 104 may have a cryptocurrency balance stored in a third party's digital wallet 212 on the customer's 104 computing device 103 unrelated to the payment service 108, and customer 104 may transfer all or part of from the balance cryptocurrency stored in a third party's digital wallet 212 to a payment service 108, as is well known to those skilled in the art. Such a transaction requires the customer 104 to transfer an amount of the virtual currency in a message signed by the private key of the customer 104 to an address provided by a payment service 108. FIG. 9 illustrates a user interface screen 624 showing a user entering a third party digital wallet address 212 associated with the cryptocurrency balance that he would like to transfer to a payment service 108. The transaction is sent to miners to consolidate the transaction into a block from transactions and verify the authenticity of the transactions in the block. After the miner checks the block, the block is written in a public, block chain / block / 220 of blocks, where the payment service 108 can

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK then verify that the transaction is confirmed and can credit the client's cryptocurrency / ledger / 204 with the amount transferred.

Figure 2 - In some cases, the payment service 108 may individually acquire cryptocurrency from a third party source. Payment Service 108 Cryptocurrency Portfolio 215 may be associated with many different addresses and may vary the addresses used to acquire the cryptocurrency so that its holdings are represented under different addresses in the block chain 220. When the payment service 108 has its own cryptocurrencies, customers, such as customer 104, can acquire cryptocurrency directly from payment service 108. In some cases, the payment service may include logic for buying and selling cryptocurrency to maintain the desired level of cryptocurrency. The desired level can be based on the volume of transactions for a given period, balances of collective customer profiles, cryptocurrency books, exchange rates or exchange rate trends, so that the cryptocurrency seeks to gain or lose value in relation to the fiat currency. .

While the payment service 108 credits a record / information / ledger / 204 for the customer's cryptocurrency 104, the transferred cryptocurrency (data with the address provided for receiving the transaction and the cryptocurrency balance transferred in the transaction) is stored in the cryptocurrency portfolio 215 of the payment service 108 In addition, while the payment service 108 recognizes that customer 104 retains the value of the transferred cryptocurrency by crediting a record / information / ledger / 204 to the customer's cryptocurrency 104, anyone who checks blockchain 220 will see the cryptocurrency. as transferred to payment service 108. In some cases, the cryptocurrency portfolio 215 of payment service 108 may be associated with many different addresses. In these cases, any person checking blockchain 220 cannot easily associate the entire cryptocurrency stored in the cryptocurrency portfolio 215 as belonging to the same entity.

As noted above, in some examples, customer 104 may have other accounts maintained by payment service 108. For example, customer 104 may also have a euro account. Such an account may be financed by transferring money from bank account 222 to a third party bank to an account maintained in payment service 108, as is conventionally known. The transferred money will be reflected in a fiat currency record / information / ledger / 206.

The customer's fiat currency record / information / ledger / 206 104 or cryptocurrency record / ledger / information / 204 may be credited when making a transaction with another user (customer or merchant) of the payment service in which the account receives the incoming currency.

In addition, customer 104 may also have one or more external payment cards registered in payment service 108 and recorded in customer data 202. In contrast to cryptocurrency accounts and fiat currency accounts recorded in cryptocurrency, respectively

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK record / information / ledger / 204 and fiat currency record / information / ledger / 206, external payment card accounts are not accounts managed by payment service external payment 108. Instead appropriate network made with payment cards.

In addition, customer 104 may also have one or more internal payment cards registered in payment service 108. Internal payment cards can be linked to all accounts associated with customer account 132. In some cases, the options / settings regarding internal payment cards cards can be adjusted and managed using Annex 210. For example, when user profile 132 includes multiple payment accounts (e.g. cryptocurrency and fiat currency), Annex 210 may set one of these accounts to be the default debit or credit account. when using an internal payment card.

Customer 104 may access and monitor user profile 132, including payment cards registered with payment service 108, cryptocurrency record / information / ledger / 204 and fiat currency record / information / ledger / 206 through Annex 210. Annex 210 may be a client application provided by a payment service 108 or configured to access a user profile 132 using one or more APIs provided by the payment service.

In some cases, Annex 210 may provide digital wallet functionality, including storage of payment methods and authorization of electronic payments from a client device 103 under the instruction of Annex 210.

FIG. 3 illustrates, for example, a mobile device 103 and a payment application 210. In some cases, a mobile payment application 210 runs on the customer's mobile device 103. are connected to one or more trading systems and can be used by the customer to purchase products or services. Applicant applications 240 may also be websites, forums, URLs, application program interfaces (APIs), or any website or application that hosts a description of the product or service and / or provides an option to purchase the product or service, regardless of from whether it is directly connected to a commercial POS device 105. The mobile payment application 210 may also be a website provided by a payment service 108, or any source of a website or application that provides a portal for sending and receiving payments for transactions using payment service 108. The requesting application 240 and the mobile payment application 210 may be accessed via a web browser (eg Chrome® or Safari®) on the mobile device 103, in one example. In another example, the application application 240 and the mobile payment application 210 may be software applications that can be downloaded through an application store (e.g.

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK

Google Play Store, etc.). Once accessed or registered in applications 240 and 210, the web browser or application remembers credentials for subsequent customer visits (for example, by verifying a web browser, web cookies, web history, etc.), allowing the customer to access the application without registering -in an account. The description here is with reference to the mobile payment application 210 as an installed application; however, it should be borne in mind that the same is true when using an authenticated and non-authenticated server.

The mobile payment application 210 may include an e-wallet application, a money transfer application (for example, an application for sending and receiving money by email or phone), or any other application that has an account identifier that is associated with one or more payment accounts. cards and / or bank accounts and can be used by the owner of the mobile device to initiate transactions. Such transactions may include traditional purchases between customers and retailers or service providers, person-to-person transactions and the like.

In some cases, the mobile payment application 210 may be used to manage internal payment cards (ie, payment cards issued by payment service 108 to users with a customer account 132). In some cases, the options / settings for internal payment cards can be adjusted and managed using application 210. For example, when customer account 132 includes multiple payment accounts (eg cryptocurrency and fiat currency), application 210 may set one of these accounts to be the default debit or credit account when using an internal payment card, as shown in FIG. 10 В.

Together, all payment instruments are referred to herein as payment instruments. For example, payment instruments may relate to a mobile device 103 running a mobile payment application 210, may relate to internal payment cards, external payment cards, and the like. The use of the term payment instrument does not imply a mechanism of use. For example, the mobile device 103 may be used via NFC communications or by using software on the mobile device 103 to send messages via web forms, applications, APIs or messaging applications. As an additional example, payment cards, whether internal or external, may be presented to a merchant for reading or a card number may be entered in a terminal under the control of the merchant or under the control of the customer. In some cases, a payment instrument may include multiple payment instruments, for example, when a mobile device 103 is used to enter a payment card number. Specific payment instruments can be discussed throughout the description, but the specific payment instrument should not be considered restrictive and experts in this field will assess cases where a payment instrument such as a payment card may be replaced by another payment instrument such as a mobile device. , for example, and vice versa.

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK

FIG. 4A illustrates an exemplary method of using application 210 to pay merchant 102 on its POS device 105. The point-of-sale transaction may be initiated by customer 104 interacting directly with merchant 102, by customer 104 using customer device 103, for remote starting a section with a merchant 102 via communication is a payment service 108, by a customer 104 that interacts directly with a POS device 105, or by some other known mechanism. Regardless of the mechanism for initiating the transaction at the point of sale, POS device 105 can obtain (302) identification of items for purchase and can calculate or obtain a value due in any monetary currency chosen by the merchant - in this example the euro.

A merchant 102 or POS device 105 may prompt the customer 104 to make a payment for the items in the amount due. Client 104 may manage a payment application 210 on client device 103 that represents (304) payment types. The payment application 210 may receive a choice (306) from cryptocurrency client 104 as a payment option.

In some cases, payment application 210 may also provide an option (307) to select an alias (alias) from a list of previously used aliases (alias) or provide an alias to be used in the transaction. In some cases, the alias may be a machine-readable code, such as a QR code, that can be used to identify the customer.

In some cases, the alias is registered as part of client profile 132, so the client profile can be identified by alias or alias in combination with another piece of information, such as a device identification attribute. client. In some cases, the alias may be conceived and used for the first time in a transaction. In some cases, an alias may be reused for a specific merchant unless the customer chooses to provide a new alias to that merchant.

In some cases, the alias may be sent in plain form, which means that it is not encrypted so that the merchant can use the alias as a mechanism to identify the transaction or customer. Any account information or other customer identification information will be encrypted so as not to be provided to the merchant and to protect the anonymity of the user.

The payment application 210 may instruct the hardware of the device 103 to send information (308), declaring that the customer 104 would like to pay using cryptocurrency, alias of the customer 104 and encrypted user profile information. Encrypted user profile information may include at least some of the data used by payment service 108 to identify a client account 132. In some cases, this information may include a username and password. In some cases, this data

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK may include account number and PIN (or other authentication). In some cases, authentication may be performed from client device 103 by biometric authentication or other means, and authentication by password or PIN should not be transmitted to the server. In some cases, the payment service may identify user profile 132 by using a registered alias, perhaps in combination with other information.

It is important that any information that can be used to identify customer 104 must be encrypted and not shared with merchant 102 unless it is an alias. If customer 104 wishes their identity to be known to merchant 102, customer 104 may provide their real name as their alias (307). In this way, client 104 can take advantage of the anonymity that is common in cryptocurrency transactions. At the same time, merchants can be confident that they are doing business with a legitimate party, as they can trust that the payment service 108 has sufficiently verified and identified the customer.

POS device 105 may receive the cryptocurrency payment statement along with the other data described above, but merchant 102 may not wish to receive cryptocurrency payment. Merchant account 130 may not be linked to a cryptocurrency account or even if the merchant has a cryptocurrency account within payment service 108, the merchant profile may indicate that he wants all POS transactions to be made in euros and would want deposits in trader 's currency 208.

In some cases, instead of using a mobile device 103 to provide payment information, the customer may present an internal payment card associated with a cryptocurrency account. The point-of-sale device 105 may use the card information to communicate with the payment service 108 to learn that the customer wishes to pay with cryptocurrency.

In some cases, instead of a mobile device 103 communicating directly with the POS device 105 via NFC, Bluetooth or a local area network, the mobile device may send a message to the POS device via a wide area network or via an intermediary. Such a message can take any form, including a text message that identifies the customer by an alias and declares a willingness to pay with cryptocurrency.

The trader can choose in which currency he would like to receive deposits. The POS 105 merchant user interface can provide the merchant with the options: 1) automatically convert the cryptocurrency to the euro or 2) invest in the cryptocurrency. If the second option is selected and the merchant does not have a cryptocurrency portfolio, the payment service 108 will automatically create a cryptocurrency record / ledger 207 for the merchant. In some cases, this user interface may be bypassed when merchant 130 indicates that merchant 102 is not interested in receiving virtual currency. In some cases this custom

Cryptocurrency and digital digital currency payment network interface can be bypassed when the tag (described below) associated with the transaction sets the rules for the transaction.

In the cases illustrated in FIG. 4A and FIG. 5 trader 102 has chosen to automatically convert the cryptocurrency into euros. Accordingly, the POS device 105 to the merchant 102 transmits (310) details of the transaction, including the value due from the customer 104 in euro, together with the information received from the customer device 103 (in step 308), to the payment service 108.

Payment service 108 receives transaction data and encrypted cryptocurrency payment information and calculates (312) value in cryptocurrency using the exchange rate between cryptocurrency and fiat currency (euro in this example) sufficient to cover the value due to merchant 102. In some executions the payment service 108 may also add a transaction fee on the transaction to be paid to the payment service 108.

The payment service may then debit the cryptocurrency record (ledger) 204 for the value calculated in step 312 and the cryptocurrency record / information (ledger) 219 for the credit payment service 108 of the same value.

Because this transaction is an online transaction (within a payment service 108), the transaction must not be transmitted in a block chain 220. The block chain / 220 continues to reflect that payment service 108 is the owner of the cryptocurrency and this remains true. Only the obligations between payment service 108 and customer 104 have changed. Since the transaction does not need to be recorded on a block chain / block chain / 220, the transaction can be completed immediately without waiting for confirmation of the transaction by a block chain / block chain / 220.

In addition, the current transaction is in fact more anonymous than a normal block chain transaction, as in a normal blockchain transaction it is possible to at least trace transactions passing from one address to another. It is true that the identity of the user can be anonymous on the block chain / block chain / 220, but it is possible to trace the flow of cryptocurrency. However, the current technology / invention keeps the customer's identity anonymous to those with whom the customer makes transactions and it is also not possible to trace the flow of cryptocurrency from public countries.

In addition to debiting ledger 204 for the customer's cryptocurrency 104, the payment service 108 debits (314) its own ledger for money (in euros) and in turn credits ledger 108 of the fiat currency of the trader 102 with the due value. In some cases, the payment service 108 may charge a fee.

While the payment service ledger 108 (cash ledger 217, cash ledger 219) reflects two different transactions - one with customer 104 and the other

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK with merchant 102 - from the point of view of customer 104 and merchant 102 only one transaction has been made. Accordingly, the payment service 108 may record (318) the transaction between customer 104 and merchant 102 in logbook 205 of past transactions (Figure 2) of merchant and customer transactions and in journal 209 of merchant transactions (Figure 2). The transaction recorded at least in the trade transaction log 209 identifies customer 104 only by its alias.

The payment service 108 may then send a transaction confirmation to the POS device 105.

While some of the transactions described here occur in multiple parts (for example, a customer-to-merchant transaction may be broken down into a customer-to-payment service transaction and a payment-to-merchant transaction), such transactions should not be treated like other known multicomponent transactions such as escrow and bank guarantees both require additional aspects (the deposit requires proof of performance before the release of funds) (guarantees refer to contractual obligations to provide guarantees). Rather, the multicomponent transactions described herein are provided in part because of the unique architecture of the current technology / invention and improvements in payment networks to provide the described and obvious advantages.

FIG. 4B illustrates an embodiment of the present technology / invention in which a merchant 102 via POS device 105 wishes to be paid in cryptocurrency and a customer 104 via device 103 wishes to pay in cryptocurrency.

FIG. 4B is similar to FIG. 4A in many respects, except that the POS system 105 calculates a due value in cryptocurrency (332). In some cases, POS system 105 may not calculate a value held in cryptocurrency until it learns that device 103 has indicated that it wishes to pay in cryptocurrency.

POS device 105 may transmit (310) transaction details, including the cryptocurrency value due. Just as in FIG. 4A, the payment service 108 may debit (314) a record / information (ledger) 204 for the cryptocurrency of the customer account 132 and a record / information (ledger) for the credit cryptocurrency 219 of the payment service 108.

The payment service 108 may then debit (334) the cryptocurrency record / ledger payment service 108 (219) and the cryptocurrency record / information (ledger) credit trader profile 1307 and may complete the transaction as addressed to steps 318 and 320 of FIG. 4A.

In FIG. 4B, the transaction is still performed in multiple parts to increase the transaction speed. Although it would be possible for customer 104 to pay merchant 102 for a direct cryptocurrency transfer, such a transfer will require confirmation of the blockchain transaction 220, which may take too long for a typical merchant client transaction.

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK

FIG. 5 illustrates an embodiment of the present technology / invention in which a client device 103 and a POS device 105 communicate with a payment service 108 and do not communicate directly with each other.

In FIG. 5 a client device selects (402) a merchant using application 210 and receives an alias entry (alias) (404). In some cases, the customer device 103 may also browse a merchant's web page 102 and facilitate the selection of items for purchase by the merchant. This information is sent to the payment service 108. The payment service 108 may communicate (406) to the customer 104 with the POS device 105, where it is displayed for selection / options by the merchant 102 when the merchant is ready to make a transaction with the customer 104.

In some cases, the alias may be a machine-readable code, such as a QR code, that can be used to identify the customer. In such cases, the alias may also include a human-readable part.

In some cases, the mobile device may send a message to a POS device over a wide area network or through an intermediary. Such a message can take any form, including a text message that identifies the customer by an alias and declares a willingness to pay using cryptocurrency. For example, the payment service 108 may maintain message tagging in such a way that the message itself becomes an instruction to perform a transaction, as explained in more detail below.

POS device 105 receives a choice (408) from the alias of the customer 104, and also receives (410) the item for purchase and calculates the due value in the respective currency. The POS device 105 sends this transaction information to a payment service 108, which transmits at least part of the transaction information to the client device 103.

After receiving transaction information, the client device 103 presents (412) payment options and receives a selection (414) of a cryptocurrency payment option and sends an instruction to a payment merchant 102 using the selected payment option to payment service 108. In some In this case, the user device 103 may need to send authentication information or a PIL to complete the transaction. In some cases, the authentication is not sent to the payment service and is instead left to Annex 210 for user authentication to instruct the payment.

Once the payment service has received a payment instruction from merchant 102, the payment service may complete the transaction in the same manner as described with respect to steps 312,314,316,318 and 320 described in FIG. 4.

As noted above, making transactions with an unknown country can increase various risks. With the present technology / invention, merchants 102 or users 150 can make transactions with a party identified only by an alias through the payment service 108, which reduces the risks associated with such transactions. The payment service 108 may require a user profile 132 to be created before the processing of each transaction, when a party wishes to be identified only by an alias. Creating a user profile 132 may be subject to background checks or other identity checks. As payment service 108 has verified the identity of those parties wishing to make transactions using an alias, it

CRYPTOCURRENCY AND DIGITAL CURRENCY PAYMENT NETWORK Merchants 102 or users 150 can safely and securely make such transactions.

Although the figures and description provided herein may refer to existing objects and / or entities, such as an account, merchant, POS device, client device or customer, it should be borne in mind that such references are not limited to the single form of such existing objects and / or subjects. Rather, such references will be understood by those skilled in the art as one of many such single existing sites and / or entities, such as one of multiple accounts, merchants, POS devices, client devices or customers, and so on.

While in some cases, the present technology / invention relates to the crediting or debiting of a book of value. It will be understood that in some cases the actual value to be credited or debited may in fact be slightly greater or less than the stated value to account for transaction fees or exchange rates, etc.

While referring to merchant 102 or POS device 105, those skilled in the art will appreciate that merchant 102 may be easily replaced by another customer 103, where the first customer 103 may send currency to another customer 103. As such references to merchant 102 or POS device 105 receiving currency in a transaction should not be considered restricted to such entities. Rather, such objects are illustrative only, and each type of object can be replaced by a merchant 102 or a POS device 105 as an entity that receives currency in a transaction.

In some cases, the merchants mentioned here may have a trading profile 130 with payment service 108, as described above, or may be external to payment service 108. When merchants are not registered with payment service 108, it may be assumed that that these traders wish to make transactions in the fiat currency of their jurisdiction. Customers registered with payment service 103 can pay in any currency associated with their account, as described here.

FIG. 6 illustrates an exemplary embodiment of the system, wherein the payment service 108 includes a private block chain 230 for recording and validating cryptocurrency transactions. FIG. 6 is similar to FIG. 2 in most respects. The system illustrated in FIG. 6 does not include record / information (ledger) for cryptocurrency 219, record / information (ledger) for cryptocurrency of client 104 is replaced by cryptocurrency portfolio 235 of client 104, record / information (ledger) for cryptocurrency 235 of trader 102 is replaced by the merchant's cryptocurrency portfolio 237 and the payment service 108 include a private block chain 230.

The private block chain / 230 can function to record sender addresses, recipient addresses, public keys, transferred cryptocurrency values and can be used to verify ownership of the cryptocurrencies to be transferred.

In some cases, the payment service 108 may record transactions performed within a payment service 108 involving cryptocurrency until the number of transactions exceeds a certain limit (the limit may be the number of transactions, the storage allocation for the number of transactions or some other limit and etc.). After reaching the limit

Cryptocurrency and digital digital payment network 108 / block chain / 220.

In some cases, the payment service 108 may participate as a miner at least for its transactions to be positioned to a public block chain 220.

With a specific reference to the financing of a cryptocurrency account in a system as illustrated in FIG. 6, client 104 may have a cryptocurrency balance stored in a third party digital wallet 212 of the client 104's computing device 103 unrelated to the payment service 108, and client 104 may transfer all or part of the cryptocurrency balance stored in digital third party portfolio 212 to payment service 108, as is well known to those skilled in the art. Such a transaction requires client 104 to transfer an amount of virtual currency in a message signed from the client's private key 104 to a cryptocurrency wallet address 235 within the payment service 108. The cryptocurrency amount transferred is then in client wallet wallet 235 for client 104. cryptocurrency for use in later transactions. Note that in this transaction, the cryptocurrency remains in the client's portfolio 104, unlike the payment service portfolio 108.

FIG. 7A illustrates an exemplary embodiment of a method for conducting a cryptocurrency transaction mediated by a payment service 108, as shown in FIG. 6 (with private block chain). The method can be started by performing steps 302,304,306 and 307 of FIG. 5.

In step 502, the client device 103 communicates with the POS device 105 and declares that the client device 103 will pay in cryptocurrency. Upon receipt of this message, the POS device 105 may indicate 504 option to merchant 102 whether it would like to receive payment in cryptocurrency or in another currency such as fiat currency. As noted above, in some cases this option may not be shown, for example when a merchant profile 130 includes a declared preference on how to handle such cases.

When merchant 102 selects and POS device 105 receives the choice 506 to receive payment in cryptocurrency, POS device 105 may send 508 address to wallet 237 for cryptocurrency and other transaction details, such as value due to client device 103. Then the client device 103 may send to 510 a message signed by his private key, including his wallet 235 address, to identify the cryptocurrency and the value to be transferred to the trading wallet 237 of the payment service 108.

The payment service 108 may complete the transaction by reducing the cryptocurrency balance 512 in the client's wallet 235 and increasing the cryptocurrency balance 512 in the merchant's wallet 237 102. This can be done by methods known in cryptocurrency transactions.

In addition to recording the transaction in cryptocurrency portfolios 235 and 237, the transaction can be recorded in a private block chain 230 and the transaction can be confirmed 320.

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK

In some cases, the transaction described in FIG. 7A can be performed in multiple parts. Instead of sending a message via payment service 108 from client profile 132 cryptocurrency portfolio 235 to trading profile 130 cryptocurrency portfolio 237, the transaction can also be modified so that both the customer and the merchant make transactions directly with payment service 108. For example, portfolio 235 for the cryptocurrency may send a cryptocurrency transfer message to the cryptocurrency wallet 215 of the payment service 108. The cryptocurrency portfolio may then send a cryptocurrency transfer message to the cryptocurrency wallet 237 from a merchant profile 130.

Such a transaction also has many benefits associated with speed. As both the merchant and the customer make transactions directly with payment service 108, there is an increased confidence that the transactions are legitimate and therefore the transfers can be registered immediately, e.g. in almost real time. These transactions can be recorded first in a private block chain / 230 or directly in a public block chain / 220. While the public block chain can still take minutes or hours to save the transaction to the block chain, profile of merchant 130 and customer profile 132 may reflect the changed balance before the entry in the public block chain 220. In such a transaction, the payment service 108 carries the theoretical risk of double spending of the cryptocurrency. However, the risk is negligible, as payment service 108 has visibility in 235 cryptocurrency portfolio transactions.

In some cases, one or more steps of the method illustrated in FIG. 7A may not be necessary. For example, some communications with payment service 108 can be avoided and the transaction can be conducted as a more traditional equivalent transaction, common in cryptocurrency transfers.

The method illustrated in FIG. 7A has advantages over traditional cryptocurrency transactions, as the payment service 108 manages both portfolios 235,237 and private block chain 230. As such, the transaction does not have to wait for confirmation from the public block chain 220, which it can take an unreasonable amount of time for many transactions. Instead, the payment service 108 can quickly verify that the transfer is legitimate and complete the transaction.

FIG. 7B illustrates an exemplary embodiment of a method for conducting a cryptocurrency transaction mediated by -mediated by payment service 108, as shown in FIG. 6 (with private block circuit). The method can be started by performing steps 302,304,306,307 and 308 of FIG. 5.

After receiving a message 308 (that customer 104 pays through cryptocurrency and encrypted account information), POS device 105 may indicate 504 option to merchant 102 whether he would like to receive payment in cryptocurrency or in another currency, such as fiat currency. As noted above, in some cases this option may not be shown, for example when a merchant profile 130 includes a declared preference on how to handle such cases.

When the merchant 102 selects and the POS device receives 530 payment option selection to receive payment in fiat currency, the POS device 105 may proceed as in step 310 of FIG. 5, where the POS device communicates a value due in fiat currency and encrypted payment information received from the customer device 103 to the payment service 108. The payment service 108 may calculate an amount due in the cryptocurrency as in

CRYPTOVOLUTE AND DIGITAL CURRENCY PAYMENT NETWORK step 312 of FIG. 5. The payment service 108 may then perform a cryptocurrency transaction between the customer's cryptocurrency portfolio 235 and the payment service's cryptocurrency portfolio 215 and record the transaction on a private chain block 230. The method may then end in the same manner. as described with reference to steps 316, 318 and 320, as described in FIG. 5.

Although the above cases focus primarily on transactions between a trader and a customer, it should be understood that the principles discussed above are applicable to transactions between any two countries transferring currency, including transfers between colleagues, employers and employees. etc., people with ordinary skills in the field will recognize the countries at the basic level as a transferring country and a host country.

In some cases, due to the presence of multiple currencies associated with customer account 132, the payment service may be configured to use the most customer-friendly currency. For example, if the customer is in a foreign country and the merchant requires payment in a currency for which the customer has no account balance, the payment service may choose which of the payment accounts associated with customer account 132 has the most favorable exchange rate for the customer.

FIG. 8,9,10A and 10B illustrate exemplary application interfaces of application 210, useful when transferring cryptocurrency to or outside the payment service 108, when spending cryptocurrency.

FIG. 8 illustrates several pages for reviewing accounts 602,604,606. Page 602 illustrates the total amount available (ie € 380) associated with customer account 132. Page 604 illustrates a breakdown of individual accounts in payment service 108. In particular, page 604 illustrates a summary of the breakdown in account 610, showing that the balance of € 380, linked to the client's account, consists of holdings of € 240 and a value of $ 140 from Bitcoin. Page 604 also provides details of the market 612 of the bitcoin accounts held by customers 132. Market data show a change in the market value of bitcoin for the period (ie 1.2%), total bitcoin holdings (customer account 132 holds 0.015 bitcoin) and the value in bitcoin in euro (ie € 908.91). Page 614 illustrates a cash view, as well as provides selectable icons 614 for selecting loyalty cards stored in connection with a customer profile 132.

All three views 602,604,606 illustrate payment card 608 associated with client profile 132. In some cases, card 608 is a virtual card that allows transactions using a virtual card number. In some cases, payment card 608 is an illustration of an actual card issued to customer 104 that is associated with customer account 132.

FIG. 9 illustrates several views of a virtual currency portfolio. View 620 illustrates a view of a bitcoin wallet showing the amount of bitcoin stored in the wallet. View 622 illustrates an optional UI element for adding a bitcoin wallet "to user profile 132. View 624 illustrates a view that follows a selection of the UI element adding a bitcoin wallet" in view 622. In view 624, client 104 may enter the address of an external wallet that contains bitcoin so that bitcoin can be transferred to / from the cryptocurrency wallet 215 (Fig. 2 and Fig. 6) or the cryptocurrency wallet 235 (Fig. 6), depending on the configuration of system, see for example Fig. 2 and Fig. 6).

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK

FIG. 10A and FIG. 10B illustrate sample screens for investing in virtual currency. For example, view 630 illustrates a graph of changes in bitcoin pricing during the day, together with the current value of € 633 owned by customer 104 in bitcoin, and bitcoin data 631 showing the percentage change in bitcoin price during the period (1.42% for the day). ), the currency number of bitcoins held by customer 104 (3.15), and the value in euros of each bitcoin (€ 2300). In addition, Vista 630 offers optional options for buying 637 or selling 635 bitcoins.

Views 632 and 634 are the result of the corresponding selection of purchases 637 and sales of 635 options in view 630. View 632 provides a user interface for buying bitcoin, and view 634 provides a user interface for selling bitcoin. Both views 632 and 634 show a value of € 639 per bitcoin to be bought or sold and show the number of 641 bitcoins to be bought or sold. The value of the bitcoins to be bought or sold can be adjusted using the 640 slider. In some cases, the maximum value of the slider can be configured to be the maximum amount in another account (eg fiat currency account) associated with the user account of the payment system.

View 636 illustrates a screen showing confirmation of a successful bitcoin purchase using € 50 to acquire 0.0217 bitcoin.

View 638 illustrates a screen showing multiple cryptocurrency portfolios. Customer profile 132 is associated with bitcoin holdings 643 and ether holdings 645. Any holding company can be selected and detailed views on these holdings will be available, including surveys, and these cryptocurrencies can be bought and sold. While many of the user interface screens are addressed with respect to FIG. 8,9,10A and 1 OB illustrate actions or research on bitcoin, it will be relevant that similar screens are provided for other cryptocurrencies such as ether, etc.

In some cases, holdings in cryptocurrencies or other non-fiat currencies may be subject to customer-defined rules 104, as illustrated in FIG. 10B. For example, the rules may set a maximum holding of 645 in each non-fiat currency, and when each holding reaches a maximum, the payment service 108 may automatically sell part of those holdings to keep the holdings below the maximum specified amount. In the same way, rules can be set for keeping holdings of certain non-fiat currencies above the minimum holdings.

The rules can be based on any defined factor, including maximum, minimums, cost of conversion, change in value, specific targets, and more.

When client 104 has more than one currency ledger / information book related to client profile 132, application 210 may also include options for specifying a currency as the default currency for transactions 647.

In some cases, Annex 210 may also provide an option that allows transactions to be financed by combining different currencies 649, for example if the default account has been underfunded. In some cases, the combined currency may include funds from an account external to the payment service 108, such as a bank account 222, a payment network 224 or an external cryptocurrency portfolio.

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK

In some cases, one or more of the options illustrated in FIG. 10B can be automatically selected or adjusted by a payment service by communicating with Annex 210. For example, the payment service may notice that a currency is preferred or used recently and make it the default. In some cases, the payment service may set limits on maximum bitcoin holdings based on the volume of transactions associated with the customer account 132 or based on a percentage of the total availability of payment services 108 in the cryptocurrency portfolio 215.

In addition to the rules that determine when customer account 132 accounts must be purchased in or outside cryptocurrency, payment service 108 may also use heuristics or machine learning techniques to predict when currency conversions will be needed, and may make such a conversion in advance.

For example, bitcoins can be converted to another currency before the transaction based on the relationship between the customer and the merchant. By considering customer behavior 104 when purchasing, the customer's payment instrument and / or location chosen by them (eg geo location, geo protection, etc.), the system can anticipate the sale of bitcoin in the public block chain / 220 or take the value of bitcoin from the local wallet. This will speed up bitcoin transactions. For example, in some cases, the payment service 108 may monitor the location of a client device 103 to determine that it is in the merchant's store 102 and that the merchant 102 does not accept cryptocurrency. The payment service may pre-liquidate part of the cryptocurrency so that customer 104 can pay merchant 102 directly in fiat currency.

In some cases, the transaction may appear to customer 102 as having paid with cryptocurrency, as addressed above, although the transaction actually consisted of two parts (converting cryptocurrency to fiat currency and paying in fiat currency).

While the above cases have been discussed regarding the purchase and sale of cryptocurrency with or in cash, it should be borne in mind that cryptocurrency can also be converted into / from other currencies, including securities.

As will be appreciated by those skilled in the art, in some cases payment service 108 may accumulate large amounts of cryptocurrency in the cryptocurrency portfolio 215. In some cases, large amounts of cryptocurrency may pose a risk to payment service 108 due to instability in cryptocurrency value. and other factors. Accordingly, the payment service 108 may include calculating the risk threshold and managing its holdings according to this threshold. When the amount of a cryptocurrency (or other non-fiat currency) triggers a risk threshold, in some cases the payment service 108 may automatically withdraw from its positions in the non-fiat currency. In some cases, the payment service may also delay the processing of transactions in non-fiat currency. This may give more time to offset transactions that reduce the holdings of the non-fiat currency payment service 108.

In some cases, the payment service 108 may support tagging of messages in such a way that the message itself becomes an instruction to perform a transaction. As used herein, the term tagging refers to the marking of an alphanumeric character (or string of alphanumeric characters (e.g., a message or statement) to identify it (i.e., a character or string) for processing in a particular way). Briefly described, the marking allows

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK to the sender who wishes to send virtual or fiat currency to a recipient to trigger a currency transfer, indicating in each message an amount and a recipient using one or more syntax inputs. Includes a currency indicator prefixed with one or more alphanumeric characters. The currency indicator works as a marking mechanism that shows the computer system to treat inputs as a request from the sender to transfer a currency that detects syntax (which includes one or more alphanumeric characters marked by a currency indicator) triggers a transfer of currency. The currency indicator can correspond to different currencies, e.g. lev, dollar ($), euro (€), pound (£), yuan (¥), bitcoin (VTS), ether (ETN), etc.

Marking technology ensures the efficient execution of financial transactions (eg transfers of payments), allowing the sender to trigger a currency transfer by using the syntax in each communication message. In particular, the sender may indicate in a communication message the amount of currency to be transferred by including a syntax input, where the input may include a currency indicator and one or more numeric characters (eg € 10). In some cases, the sender may also indicate in the communication message the recipient to whom the sender intends to send the money, including another syntax input. The entry may include the currency indicator and one or more alphabetic and / or numeric characters (eg € petr or € petr123).

While a variety of transactions are disclosed here, including customer-merchant transactions, consumer-consumer transactions, direct transfers between the first and second parties and indirect transfers in which the first party transfers to payment service 108 and then payment service 108 transfers to second party, it should be borne in mind that any combination of countries, whether merchants, customers, consumers can participate in direct or indirect transfers addressed here.

FIG. 11 shows an example of a computing system 500 in which system components communicate with each other using a connection 705. The computing system 700 may be, for example, a payment service 108 computing system, a POS device 105 and / or a client device 103. While these devices have some common components, such as those illustrated in computer system 500, must be borne in mind that each of the payment service 108, the POS device 105 and / or the customer device 103 are specialized devices configured for their specific purposes. The connection 705 may be a physical bus connection or a direct connection to a processor 710, such as in a chipset architecture. Connection 705 may also be a virtual connection, a network connection, or a logical connection. For example, when the computing system 700 is a payment service 108, cryptocurrency transactions between a customer and a merchant are centrally managed, aggregated, and traded at computer-generated intervals and according to user preferences.

In some cases, the computing system 700 is a distributed system in which the functions described in this representation can be distributed in a data center, multiple data centers, a partner network, and the like. In some cases, one or more of the described system components are many such components each performing part or all of the functions for which the component is described. In some cases, the components may be physical or virtual devices.

Exemplary system 700 includes at least one processor (CPU or processor) 710 and a connection 705 that connects various system components, including system memory 715, such as read-only memory (ROM) and random access memory (RAM) to processor 710.

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK system 700 may include a cache of high-speed memory directly connected to, adjacent to, or integrated as part of processor 710.

Processor 710 may include any general-purpose processor and hardware service or software service, such as services 732,734 and 736 stored in a storage device 730 configured to control processor 710, and a special-purpose processor that includes software instructions. CPU design. The processor 710 may be substantially a stand-alone computing system comprising multiple cores or processors, a bus, a memory controller, a cache, and the like. A multi-core processor can be symmetric or asymmetric.

To enable user interaction, the computing system 700 includes an input device 745, which may be any number of input mechanisms, such as a speech microphone, touch screen or graphic input, keyboard, mouse, motion input, speech etc. The computing system 700 may also include an output device 735, which may be one or more of a number of output mechanisms known to those skilled in the art. In some cases, multimodal systems may allow the user to provide multiple types of input / output for communication with a computing system 700. The computing system 700 may include a communication interface 740 that can typically control and manage user input and output of the system. There is no limit to working with any hardware layout and therefore the main features here can easily be replaced with improved hardware or firmware devices as they are developed.

The storage device 730 may be non-volatile memory and may be a hard disk or other type of computer readable medium that can store data accessible from a computer, such as magnetic cassettes, flash memory cards, hardware memory devices, digital floppy disks, cassettes, random access memory (RAM), read only memory (ROM) and / or some combination of these devices.

The storage device 730 may include software services, servers, services, etc., so that when the code that defines such software is executed by the processor 710, it causes the system to perform a function. In some embodiments, a hardware service that performs a specific function may include the software component stored on a computer-readable medium in conjunction with the required hardware components, such as processor 710, connection 705, output device 735, etc., to perform the function .

For clarity of explanation, in some cases the present technology / invention may be represented as including separate functional blocks, including functional blocks including devices, device components, steps or routine methods in a method embodied in software, or combinations of hardware and software. .

Each of the steps, operations, functions, or processes described herein may be performed or implemented through a combination of hardware and software services or services, alone or in combination with other devices. In some cases, the service may be software that resides in the memory of a client device and / or one or more content management system servers and performs one or more functions when the processor executes the software associated with the service. In some cases, a service is a program or collection of programs that performs a specific function. In some cases, the service may be considered a server. Memory can be a non-transient computer-readable medium.

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK

In some cases, computer-readable storage devices, media, and memory may include a cable or wireless signal containing bitstream and the like. However, when mentioned, non-readable storage media explicitly exclude media such as energy, carrier signals, electromagnetic waves and signals as such.

The methods of the above examples can be implemented using computer-executable instructions that are stored or otherwise accessible from a computer-readable medium. Such instructions may include, for example, instructions and data that cause or otherwise configure a general purpose computer, a special purpose computer, or a special purpose processing device to perform a particular function or group of functions. Parts of the computer resources used may be accessible over a network. Executable instructions on the computer can be, for example, binaries, instructions in an intermediate format, such as assembly language, firmware, or source code. Examples of computer readable media that can be used to store instructions, information used and / or information created during methods according to the examples described include magnetic or optical disks, hardware memory devices, flash memory, USB devices equipped with with non-volatile memory, network storage devices, etc.

Devices applying methods according to these disclosures may include hardware, firmware and / or software and may adopt any of a variety of formats. Typical examples of such form factors include servers, laptops, smartphones, low-factor personal computers, personal digital assistants, and so on. The functionality / invention described herein may also be embodied in peripherals or additional cards. Such functionality can also be implemented on a board among different chips or different processes running in one device, as an additional example.

The instructions, media for transmitting such instructions, computational resources for their execution, and other structures for maintaining such computational resources are means of providing the functions described in these disclosures herein.

Although various examples and other information have been used to explain aspects within the scope of the appended claims, it should not be implied to limit claims on the basis of specific characteristics or mechanisms in such examples, as a person of ordinary skill in the art could use the given examples and implement them in a wide variety of cases. Furthermore, and although some objects may have been described in a language specific to examples of structural characteristics and / or steps of the method, it should be understood that the subject matter defined in the appended claims is not necessarily limited to those described characteristics or actions. For example, such functionality may be distributed in different ways or implemented in components other than those identified herein. Rather, the described features and steps are disclosed as examples of system components and methods within the scope of the appended claims.

Thank you for your attention.

CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK

APMG Net Ltd. - APMG NET Ltd.

Peter Petrov; Angelina Petrova

Claims: Network for payment with cryptocurrency and digital currency

Claims (12)

What is claimed is as follows: 1. A method of carrying out a transaction (transaction) at a point of sale between a customer and a trader, in which the customer provides cryptocurrency / digital currency and the trader receives fiat and / or cryptocurrency / digital currency, the method comprising: determining through a payment service in communication with a trader's sales system that the trader has chosen to receive payment in fiat and / or cryptocurrency / digital currency in order to carry out the point of sale transaction; determining, in the point of sale system, monetary value due in fiat and / or cryptocurrency / digital currency, where the monetary value is related to an item purchased as part of the point of sale transaction between the customer and the trader; receiving from the point of sale system information identifying the cryptocurrency / digital currency to enable the point of sale transaction to take place; determining through the payment service the exchange rate between the cryptocurrency / digital currency and the fiat currency; Determining through the payment service the monetary value of the item purchased by the customer in cryptocurrency / digital currency, where the monetary value in cryptocurrency is based on the exchange rate between cryptocurrency / digital currency and fiat currency and the monetary value of the item in fiat and / or cryptocurrency digital currency; receipt by the merchant payment service from the point-of-sale system, request for payment for the purchased item, request for payment, including indication that the cryptocurrency / digital currency is the currency specified by the customer to pay for the item and the request to receive a payment including a customer ID, merchant ID; CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK determination through the payment service using the client's identifier, the client's account, which stores funds in cryptocurrency / digital currency; execution by the payment service of a first transaction between the customer identified by the customer ID and the payment service, wherein the first transaction facilitates the transfer of monetary value in cryptocurrency / digital currency from the customer's account to the first payment service account; recording in the payment service of the first transaction between the payment service and the customer; execution through the payment service of a second transaction between the payment service and the merchant identified by the merchant ID, where the second transaction transfers monetary value in fiat and / or cryptocurrency / digital currency from the second payment service account to a merchant account identified by the merchant indicator ; and recording in the payment service the second transaction between the payment service and the merchant; and creating in the payment service a record of the transaction at the point of sale between the customer and the merchant. The method of claim 1, wherein the information identifying the cryptocurrency / digital currency is received in electronic communication from a client device executing a mobile wallet application. The method of claim 1, wherein the identification of the cryptocurrency / digital currency is obtained by selecting a cryptocurrency / digital currency in the user interface of the point of sale system. The method of claim 1, wherein the customer identifier is an alias. 5. A point-of-sale (transaction) point of sale system in which the customer provides cryptocurrency / digital currency and the merchant receives fiat and / or cryptocurrency / digital currency, the system including a payment service server and a system for sale and is configured to: determine through the payment service in communication with the merchant's point of sale system that the merchant has chosen to receive payment in fiat and / or cryptocurrency / digital currency in order to carry out the transaction at the point of sale; determine, in the point of sale system, the monetary value due in fiat and / or cryptocurrency / digital currency, where the monetary value is CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK related to an item purchased as part of a point-of-sale transaction between a customer and a merchant; receive from the point of sale system information identifying the cryptocurrency / digital currency to enable the point of sale transaction to take place; determines the exchange rate between the cryptocurrency and the fiat currency through the payment service; determines through the payment service the monetary value of the item purchased by the customer in cryptocurrency / digital currency, where the monetary value in cryptocurrency / digital currency is based on the exchange rate between cryptocurrency / digital currency and fiat currency and the monetary value of the item in fiat and / cryptocurrency / digital currency; to receive from the merchant payment service related to the merchant, a request to receive payment for the purchased item, the request to receive payment, including an indication that the cryptocurrency / digital currency is the currency specified by the customer to pay for the item and the payment request includes a customer ID, a merchant ID; determines through the payment service and with the help of the client's identifier the client's account, which stores funds in cryptocurrency / digital currency; executes, through the payment service, a first transaction between the customer identified by the customer ID and the payment service, where the first transaction facilitates the transfer of monetary value in cryptocurrency / digital currency from the customer's account to the first payment service account; records in the payment service the first transaction between the payment service and the customer; executes, through the payment service, a second transaction between the payment service and the merchant identified by the merchant identifier, where the second transaction transfers monetary value in fiat and / or cryptocurrency / digital currency from the second payment service account to a merchant account identified by the merchant identifier. the merchant; and records in the payment service the second transaction between the payment service and the merchant; and creates in the payment service a record of the transaction at the point of sale between the customer and the merchant. CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK The system of claim 5, wherein the information identifying the cryptocurrency / digital currency is received in electronic communication from a client device executing a mobile wallet application. The system of claim 5, wherein the information identifying the cryptocurrency / digital currency is obtained by selecting a cryptocurrency / digital currency in the user interface of the point of sale system. The system of claim 5, wherein the customer identifier is an alias. 9. One or more computer readable storage media for a transaction (transaction) at a point of sale between a customer and a merchant, where the customer provides cryptocurrency / digital currency and the merchant receives fiat and / or cryptocurrency / digital currency embodying software, who performs: determines, through a payment service in communication with a trader's sales system, that the trader has chosen to receive payment in fiat and / or cryptocurrency / digital currency in order to settle the transaction at the point of sale; determines, in the point of sale system, monetary value due in fiat and / or cryptocurrency / digital currency, where the monetary value is related to an item purchased as part of the point of sale transaction between the customer and the trader; receive from the point of sale system information identifying the cryptocurrency / digital currency to enable the point of sale transaction to take place; determines the exchange rate between the cryptocurrency / digital currency and the fiat currency through the payment service; determines through the payment service the monetary value of the item purchased by the customer in cryptocurrency / digital currency, where the monetary value in cryptocurrency / digital currency is based on the exchange rate between cryptocurrency / digital currency and fiat currency and the monetary value of the item in fiat and / or cryptocurrency / digital currency; to receive from the merchant payment service related to the merchant, a request to receive payment for the purchased item, the request to receive payment, including an indication that the cryptocurrency / digital currency is the currency specified by the customer to pay for the item and the application for CRYPTOVENUT AND DIGITAL CURRENCY PAYMENT NETWORK receiving payment includes customer ID, merchant ID; determines, through the payment service and with the help of the client's identifier, the client's account, which stores funds in cryptocurrency / digital currency; executes, through the payment service, a first transaction between the customer identified by the customer ID and the payment service, where the first transaction facilitates the transfer of monetary value in cryptocurrency / digital currency from the customer's account to the first payment service account; records in the payment service the first transaction between the payment service and the customer; executes, through the payment service, a second transaction between the payment service and the merchant identified by the merchant identifier, where the second transaction transfers monetary value in fiat and / or cryptocurrency / digital currency from the second payment service account to a merchant account identified by the merchant identifier. the merchant; and records in the payment service the second transaction between the payment service and the merchant; and creates in the payment service a record of the transaction at the point of sale between the customer and the merchant. The medium of claim 9, wherein the information identifying the cryptocurrency / digital currency is received in electronic communication from a client device executing a mobile wallet application. The medium of claim 9, wherein the information identifying the cryptocurrency / digital currency is obtained by selecting a cryptocurrency / digital currency in the user interface of the point of sale system. The carrier of claim 9, wherein the customer identifier is an alias.