Patent ID: 7734544

Claim:
An authorization and conversion system comprising: at least one processor; a memory in communication with at least one processor, storing instructions that when executed by the at least one processor cause the at least one processor to perform the operations of: storing at least one settlement policy and at least one mutually agreed threshold for a currency conversion between a buyer and a merchant; receiving by a settlement and capture service a transaction from a merchant computer, for an amount in a target currency; determining by the settlement and capture service that funds in an account of the buyer in a source currency are insufficient to cover the transaction amount in the target currency; based on the settlement policy, acquiring by the settlement and capture service a balance of funds from an account of the buyer in a backup currency, wherein the backup currency is different from the source and target currencies; acquiring by the settlement and capture service a currency conversion rate for conversion between the source currency and the backup currency; comparing by the settlement and capture service a difference between the acquired currency conversion rate and an initial currency conversion rate with the mutually agreed threshold; and authorizing the transaction by the settlement and capture service based on the comparison.