System and method for multiple currency transactions

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.

1 - 24 . (canceled)  
     
     
         25 . A method for supporting a transaction for purchasing a plurality of products by a plurality of buyers from a vendor, each product having a price, a local currency of at least a portion of the buyers being different from a local currency of the vendor, the buyers communicating with the vendor through a network, the method comprising: 
 purchasing a plurality of products from a plurality of suppliers by the vendor, each supplier being paid in a separate local currency of said supplier;    determining a supplier exchange rate for paying each supplier by the vendor and determining a buyer exchange rate for paying the vendor by each buyer, each of said exchange rates being hedged and being guaranteed for a separate predetermined period of time;    converting the price of the product from the local currency of the vendor to the local currency of each buyer to form a final price according to said exchange rate, such that each buyer receives information concerning said final price before a payment transaction is performed;    receiving payment from each buyer for said final price to perform said payment transaction;    converting said payment from the local currency of each buyer to the local currency of the vendor to form a converted payment according to said exchange rate, wherein said exchange rate is guaranteed at a time of calculating said final price for each buyer, such that the price in the local currency of the vendor is guaranteed and such that the price in the local currency of each buyer is guaranteed, and is hedged; and    paying the vendor with said converted payment.    
     
     
         26 . The method of  claim 25 , further comprising: 
 converting said payment from the local currency of the vendor to the local currency of each supplier according to said supplier exchange rate; and    paying each supplier with said converted payment.