Authorization and capture with multiple currencies

Abstract

Techniques are presented for authorization and capture with multiple funding sources and currencies. A transaction amount associated with a target currency is authorized from one or more funding sources, where at least one of the one or more funding sources includes funds associated with a different currency from the target currency. The funds from the different currency are calculated at authorization to cover the transaction amount and converted at settlement or capture to determine if the transaction amount is still covered at capture.

What is claimed is: 
     
         1 . An authorization and conversion system comprising:
 at least one processor;   a memory in communication with the at least one processor, storing instructions that when executed by the at least one processor cause the at least one processor to perform the operations of:   storing at least one settlement policy and at least one mutually agreed threshold for a currency conversion between a buyer and a merchant;   receiving a transaction from a second party computer, for an amount in a target currency;   determining that funds in an account of the buyer in a source currency are insufficient to cover the transaction amount in the target currency;   based on the settlement policy, acquiring a balance of funds from an account of the buyer in a backup currency, wherein the backup currency is different from the source and target currencies;   acquiring a currency conversion rate for conversion between the source currency and the backup currency;   comparing a difference between the acquired currency conversion rate and an initial currency conversion rate with the mutually agreed threshold; and   authorizing the transaction based on the comparison.