Patent ID: 7660768

Claim:
A computerized method for processing a credit card transaction, the transaction occurring between a merchant and a cardholder using a credit card of the cardholder, the merchant associated with a local currency, the credit card having an associated issuing currency, the method comprising: receiving an authorization request from a credit transaction processing device of the merchant via a first telecommunication network, the authorization request including a transaction amount denominated in the local currency; selecting an applicable conversion rate from a plurality of conversion rates between the local currency and the issuing currency; converting, by a computer, the transaction amount denominated in the local currency into an amount denominated in the issuing currency using the selected applicable conversion rate; forwarding the authorization request to a card association via a second telecommunication network, the forwarded authorization request denominated in the issuing currency; receiving via the second telecommunication network an authorization response from the card association, the authorization response denominated in the issuing currency; and using a computer, forwarding via the first telecommunication network the authorization response to the credit transaction processing device of the merchant, the forwarded authorization response including the amount denominated in the issuing currency and including conversion information.