The patent badge is an abbreviated version of the USPTO patent document. The patent badge does contain a link to the full patent document.
The patent badge is an abbreviated version of the USPTO patent document. The patent badge covers the following: Patent number, Date patent was issued, Date patent was filed, Title of the patent, Applicant, Inventor, Assignee, Attorney firm, Primary examiner, Assistant examiner, CPCs, and Abstract. The patent badge does contain a link to the full patent document (in Adobe Acrobat format, aka pdf). To download or print any patent click here.
Patent No.:
Date of Patent:
Oct. 05, 2021
Filed:
Nov. 25, 2019
Mastercard International Incorporated, Purchase, NY (US);
MASTERCARD INTERNATIONAL INCORPORATED, Purchase, NY (US);
Abstract
A method for minimizing inter-bank settlement through incremental updates stored via blockchains includes storing three blockchains: a balance blockchain updated periodically that includes an available balance for a plurality of blockchain wallets, a credit blockchain that includes credits made to a blockchain wallet, and a debit blockchain that includes payments made from the blockchain wallet. Holds are placed on related transaction accounts to enable the blockchain wallets to utilize payments made thereto without the need for a transaction account, where the holds are only updated when necessary based on periodic updates to the balance blockchain, thus minimizing settlements performed by the issuing institutions, thus reducing inter-bank settlements and enabling payees to receive payments from a transaction account without their own.