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:
Sep. 19, 2023
Filed:
Jul. 24, 2019
Mastercard International Incorporated, Purchase, NY (US);
Peter J. Groarke, Dublin, IE;
MASTERCARD INTERNATIONAL INCORPORATED, Purchase, NY (US);
Abstract
A method for real-time settlement of financial institutions for a standard electronic payment transaction using a blockchain network includes: receiving a response message for a financial transaction from an issuing institution via payment rails including a transaction amount, issuer identifier, and acquirer identifier; identifying a public key using the acquirer identifier and a private key using the issuer identifier; generating a destination address using the public key and a digital signature using the private key; transmitting a blockchain transaction request to a node in a blockchain network using an alternative communication network including the destination address, digital signature, and transaction amount; receiving a confirmation message from the node including a transaction hash value; modifying the response message to include the transaction hash value; and transmitting the modified response message to an acquiring institution using the payment rails.