Patent EA-003766-B1 (EA)
Title: Dynamic currency conversion for card payment system
Inventor: BARRY GERALD J
IPC: G06Q20/00
Filed: 1999-09-01
Abstract: 1. A data processing method for determining a preferred currency for association with charge, debit or credit card transaction between a merchant and a charge, debit or credit card cardholder comprising the steps of: obtaining (30,205) the card number of the card from the cardholder, characterised in that the method further comprises the steps of: identifying an identifier code (50) from said card number, determining the operating currency (61(1-n)) for said identifier code (60(1-n)), by comparing said identifier code with entries in a table, wherein each entry in the table contains an issuer code (60(1-n)) or range of issuer codes and a corresponding currency code (61(1-n)), and setting the currency (215, 420) for association with the card transaction as the determined operating currency for the issuer code (60(1-n)). 2. A data processing method according to claim 1, wherein the preferred currency is set to the default currency of the merchant when no operating currency can be determined for the identifier code (60(1-n)). 3. A data processing method according to any one of claims 1 to 2, wherein the cardholder is prompted (265) as to whether the transaction is to be conducted in the preferred currency. 4. A data processing method according to claim 3, wherein said prompting (265) comprises the additional step of converting the transaction amounts to equivalent amounts in the preferred currency and presenting these amounts for review by the cardholder. 5. A data processing method according to claims 4, further comprising the step of presenting an exchange rate to the cardholder, said exchange rate corresponding to a rate between the merchant's currency and the preferred currency. 6. A data processing method according to claim 5, wherein if the cardholder indicates that the transaction is to proceed in the preferred currency, the transaction is processed in the preferred currency. 7. A data processing method according to claim 5, wherein if the cardholder indicates that the transaction is not to proceed in the preferred currency, the transaction proceeds in the merchant's currency. 8. A data processing method according to claim 1, wherein at least one of the transaction amounts is converted to an equivalent amount in the preferred currency and is presented to the cardholder. 9. A data processing method according to claim 8, further comprising the step of presenting an exchange rate to the cardholder, said exchange rate corresponding to a rate between the merchant's currency and the preferred currency. 10.A data processing method according to claim 9, wherein the transaction details in the merchant's currency are also presented to the cardholder. 11.A data processing method according to claim 10, wherein the transaction details are presented to the cardholder after cardholder approval has been obtained for the transaction. 12.A data processing method according to claims 10, wherein the transaction details are presented to the cardholder prior to cardholder approval of the transaction. 13.A data processing method according to claim 1, further comprising the step of initially checking (240) to determine if the transaction amount exceeds a predetermined minimum level for processing in an alternative currency to that of the merchant's currency. 14. A system (22) for use with a charge, debit or credit card transaction between a merchant and a charge, debit or credit card cardholder having means for obtaining (20, 71, 72) the card number of the card from the cardholder, characterised in that the system has means for determining a preferred currency for association with the transaction comprising means for identifying (24) an identifier code from said card number, means for determining (24) the operating currency for said identifier code by comparing said identifier code with entries in a table, wherein each entry in the table contains an issuer code or range of issuer codes and a corresponding currency code, and means for setting (24) the currency for association with the card transaction as the determined operating currency for the identifier code. 15.A system according to claim 14, further comprising means for setting the preferred currency to the default currency of the merchant when no operating currency can be determined for the identifier code. 16.A system according to anyone of claims 14 to 15, further comprising prompting means for prompting the cardholder as to whether the transaction is to be conducted in the preferred currency. 17.A system according to claims 16, wherein said prompting means comprises conversion means for converting the transaction amounts to equivalent amounts in the preferred currency and presenting these amounts for review by the cardholder. 18.A system according to claims 17, wherein said prompting means further comprises means for presenting an exchange rate to the cardholder, said exchange rate corresponding to a rate between the merchant's currency and the preferred currency. 19.A system according to claim 18, further comprising means for accepting an indication from the cardholder as to whether the transaction is to proceed in the preferred currency and means for permitting the transaction to be processed in the preferred currency if such an indication is received. 20.A system according to claim 19, further comprising means for accepting an indication from the cardholder as to whether the transaction is to proceed in the preferred currency and means for permitting the transaction to be processed in the merchant's currency if no such indication is received. 21.A system according to claim 14, further comprising conversion means for converting at least one of the transaction amounts to an equivalent amount in the preferred currency and presenting this converted amount to the cardholder. 22.A system according to claim 21, wherein the conversion means further comprises means for presenting an exchange rate to the cardholder, said exchange rate corresponding to a rate between the merchant's currency and the preferred currency. 23. A system according to claim 22, wherein the conversion means is adapted to present the transaction details to the cardholder after cardholder approval has been obtained for the transaction. 24. A system according to claim 23, wherein the conversion means is adapted to present the transaction details to the cardholder prior to cardholder approval of the transaction. 25.A system according to claim 24, further comprising means for initially checking to determine if the transaction amounts exceeds a predetermined minimum level fox processing in an alternative currency to that of the merchants currency. 26.A system according to claim 14, wherein said system is a card terminal (70). 27. A system according to claim 14 wherein said system is a central payment router. 28. A system according to claim 14, wherein said system is an authorisation host. 29.A system according to claim 14, wherein said system is implemented using an authorisation host in co-operation with another system. 30.A system according to claim 29, wherein said other system is card terminal. 31.A system according to claim 24, wherein said other system is a central payment router. 32.A system according to claim 14, further comprising means for connecting to a node in a computer network. 33.A system according to claim 32, wherein the card number is received via the computer network. 34. A computer usable storage medium having encoded thereon data and computer instructions for determining a preferred currency for association with a transaction between a merchant and a cardholder, for causing a data processing system to implement the method as claimed in any one of claims 1 to 13.