System and method for multiple currency transactions

Details System and method for multiple currency transactions System and method for multiple currency transactions

2005-05-10

2005-05-10

Cuff, Michael (Department: 3627)

Data processing: financial, business practice, management, or co

Automated electrical financial or business practice or...

Electronic shopping

C705S035000

Reexamination Certificate

active

06892184

ABSTRACT:
A system and a method for supporting e-commerce transactions in multiple currencies, in which the local currency of the buyer is different from the local currency of the vendor, such that the exchange between the currencies is hedged at the time of sale of the product. The system and method enable the buyer to receive a final price for the product before the transaction is performed. The system and method also provide a mechanism for the actual exchange between the currencies of the buyer and of the vendor, such that the aspects of the transaction regarding payment are fully supported. Preferably, online hedging of the currency transactions is performed, in order to reduce the risk involved with predetermination of prices.

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