System and method for processing payment in cryptocurrency

Abstract

A system for processing payments using cryptocurrency, the system comprising: a software development kit operably coupled with at least one encrypted wallet having at least one encrypted address; wherein the SDK is configured to transmit a user ID and at least one encrypted address to the payment terminal and the server platform; a payment terminal configured to transmit an invoice message to the server platform, the invoice message including a payment amount in the first currency and an encrypted address or a user ID; a server platform, the server platform is configured to query at least one blockchain network for a balance of at least one cryptocurrency type in the at least one cryptocurrency wallet and determine at least one store in the first currency by applying at least one available exchange rate of the first currency with the at least one cryptocurrency type a value of the balance; the server platform responds to the invoice message by sending an encrypted payment offer message to the SDK, the encrypted payment offer message including at least one payment amount in at least one cryptocurrency type.

Description

Technical Field

[0001] The present disclosure relates generally to methods and systems for processing payments, and more particularly to methods and systems for processing payments made using cryptocurrency. Background Art

[0002] Despite being around for more than a decade, cryptocurrencies have yet to achieve their goal of becoming widely used as currency in everyday business scenarios.

[0003] There are many drawbacks that hinder the widespread adoption of cryptocurrencies by consumers, including high transaction costs, high latency in processing payments, and an unusual diversity of cryptocurrency types, which forces different software to be used for each cryptocurrency. For example, US2020013046A1 provides a device that stores information about accounts and information about whether each account can be used to realize payment of the total cost of a transaction; a computer; a distributed ledger and blockchain technology system; and a receiver. For example, WO2022212248A1 provides a technology that integrates a payment processing platform (PPP) and a payment production platform (PMP) to use cryptocurrency for differentiated payment allocation. PPP can receive a request for receiving funds in the form of cryptocurrency. Based on the request, a cryptocurrency wallet account for a merchant can be accessed. PPP can receive one or more payment authorization requests associated with a transaction, and the PPP causes (i) a first portion of the funds to be deposited in a cryptocurrency wallet account in cryptocurrency, and (ii) a second portion of the funds to be deposited in a merchant account in fiat currency.

[0004] Therefore, there is a need for a system and method that can overcome the shortcomings of cryptocurrency so that cryptocurrency can be widely adopted by the public. Summary of the invention

[0005] Embodiments involving systems, server platforms, and software development kits (SDKs) for processing payments made using cryptocurrencies are described below by way of example only.

[0006] One embodiment may include a system for processing payments made using cryptocurrency, the system comprising a server platform configured to: receive an invoice message including a payment amount in a first currency from a payment terminal; receive at least one or more encrypted addresses at a blockchain; request a query on the blockchain network for the balance of cryptocurrency in at least one of the encrypted addresses; determine the value of the balance in the first currency by applying at least one available exchange rate between the first currency and the cryptocurrency type; respond to the invoice message by sending an encrypted payment offer message to a software development kit (SDK) of one or more crypto wallets installed on an electronic device and operably connected to at least one of the encrypted addresses, wherein the encrypted payment offer message includes at least one payment amount in at least one of the cryptocurrency types.

[0007] For example, the system includes an electronic device, wherein the electronic device is configured to: operably connect the SDK with at least one encrypted wallet having at least one encrypted address; transmit at least one encrypted address to the payment terminal; receive the encrypted payment offer message from the server platform; and approve the encrypted payment offer.

[0008] For example, wherein at least one or more of the encrypted addresses are received from a payment terminal together with the invoice message.

[0009] For example, the system includes an electronic device, wherein the electronic device is configured to: operably connect the SDK with at least one encrypted wallet having at least one encrypted address; transmit a user ID to the payment terminal for transmission to the server platform together with the invoice message; return at least one of the encrypted addresses in response to a request from the server platform; receive the encrypted payment offer message from the server platform; and approve the encrypted payment offer.

[0010] For example, wherein at least one of the payment amounts in at least one of the cryptocurrencies of the encrypted payment offer message is determined based on at least one factor selected from: the value of the balance, a preference for a cryptocurrency type; a risk factor for at least one of the cryptocurrency types, a transaction cost for at least one of the cryptocurrency types.

[0011] For example, after the encrypted payment offer is approved by the SDK, the SDK instructs the at least one encrypted wallet to pay at least one of the payment amounts in at least one of the cryptocurrency types to the encrypted address of the server platform.

[0012] For example, the electronic device is configured such that after the encrypted payment offer is approved by the SDK, the SDK notifies the server platform of the approval.

[0013] For example, wherein the server platform pays the payment amount in the invoice message in the first currency to the POS.

[0014] For example, wherein the server platform is configured to convert the received at least one payment amount in at least one of the cryptocurrencies into a total amount in a first currency at a liquidity provider.

[0015] For example, the system includes determining a risk factor for a consumer based on at least one factor selected from: historical data of previous payments made by the consumer and verified alternative payment methods for the consumer available to the SDK.

[0016] For example, the system includes transmitting the payment in the first currency to the POS before receiving at least one of the payment amounts in at least one of the cryptocurrency types based on at least one factor selected from the following: a risk factor of a consumer; a risk factor of at least one of the cryptocurrency types; a network condition of at least one blockchain network of at least one of the cryptocurrency types.

[0017] One embodiment may include a server platform comprising one or more tangible computer-readable non-transitory storage media, the one or more tangible computer-readable non-transitory storage media comprising program instructions for processing payments made using cryptocurrency, wherein execution of the program instructions by one or more processors causes the server platform to: receive an invoice message from a payment terminal at a point of sale (POS), the invoice message comprising a payment amount in a first currency and at least one encrypted address of at least one crypto wallet, the at least one crypto wallet being operably connected to a software development kit (SDK) installed on an electronic device; query at least one blockchain network for at least one balance of at least one cryptocurrency type in the at least one crypto wallet; determine a value of at least one of the balances in the first currency by applying at least one available exchange rate between the first currency and at least one of the cryptocurrency types; and respond to the invoice message by sending an encrypted payment offer message to the SDK, wherein the encrypted payment offer message comprises at least one payment amount in at least one of the cryptocurrency types.

[0018] For example, wherein at least one or more of the encrypted addresses are received from a payment terminal together with the invoice message.

[0019] For example, at least one or more of the encrypted addresses are received from the SDK in response to a request from the server platform to the SDK after receiving the user ID from the payment terminal.

[0020] For example, wherein program instructions are executed by one or more processors so that the server platform: generates at least one payment amount in at least one of the cryptocurrency types in the encrypted payment offer message based on at least one factor selected from the following: the value of the balance, the preference for the cryptocurrency type; the risk factor of at least one of the cryptocurrency types, and the transaction cost of at least one of the cryptocurrency types.

[0021] For example, wherein the program instructions are executed by one or more processors so that the server platform: registers at least one payment amount in at least one of the cryptocurrency types received to the encrypted address of the server platform in a database.

[0022] For example, upon receiving at least one payment amount in at least one of the cryptocurrency types, one or more processors execute program instructions such that: the received at least one payment amount in at least one of the cryptocurrency types is converted into a total amount in the first currency at the liquidity provider.

[0023] For example, upon receiving at least one payment amount in at least one cryptocurrency type, one or more processors execute program instructions to cause the server platform to: pay the payment amount in the first currency in the invoice message to the POS.

[0024] For example, wherein program instructions executed by one or more processors cause the server platform to: determine a consumer's risk factor based on at least one factor selected from: historical data of previous payments made by the consumer and verified alternative payment methods of the consumer that can be utilized by the SDK.

[0025] For example, wherein program instructions executed by one or more processors cause the server platform to: transmit the payment in the first currency to the POS before receiving at least one payment amount in at least one of the cryptocurrency types based on at least one factor selected from the following: consumer's risk factors; risk factors of at least one of the cryptocurrency types; network conditions of at least one blockchain network of at least one of the cryptocurrency types.

[0026] One embodiment may include an electronic device comprising one or more tangible computer-readable non-transitory storage media, the one or more tangible computer-readable non-transitory storage media having installed thereon a software development kit (SDK) for processing payments made using cryptocurrencies, wherein program instructions of the SDK are executed by one or more processors so as to: operably connect to at least one crypto wallet having at least one crypto address; transmit at least one crypto address to a payment terminal at a point of sale (POS); receive an encrypted payment offer message from a server platform; wherein the encrypted payment offer message includes at least one payment amount in at least one of the cryptocurrency types; approve the encrypted payment offer; and instruct at least one of the crypto wallets to pay at least one of the payment amounts in at least one of the cryptocurrency types to an encrypted address of the server platform.

[0027] For example, one or more processors execute program instructions of the SDK to enable the electronic device to: transmit at least one of the encrypted addresses to a remote payment terminal via an Internet protocol.

[0028] For example, one or more processors execute program instructions of the SDK to enable the electronic device to: transmit at least one of the encrypted addresses to the payment terminal via near field communication of the electronic device.

[0029] For example, one or more processors execute program instructions of the SDK so that: after the SDK approves the encrypted payment offer, the SDK notifies the server platform of the approval. BRIEF DESCRIPTION OF THE DRAWINGS

[0030] The present disclosure may be more fully understood in conjunction with the following detailed description, considering the accompanying drawings, in which:

[0031] Figure 1 A block diagram of a system for processing payments made using cryptocurrency is shown, in accordance with some demonstrative embodiments.

[0032] Figure 2 A block diagram of a system for processing payments made using cryptocurrency is shown, in accordance with some demonstrative embodiments.

[0033] Figure 3 A flowchart of a method for processing payments made using cryptocurrency is shown, in accordance with some demonstrative embodiments. DETAILED DESCRIPTION

[0034] In the following detailed description, numerous specific details are set forth to provide a thorough understanding of some embodiments. However, it will be appreciated by those of ordinary skill in the art that some embodiments may be practiced without these specific details. In other cases, well-known methods, procedures, components, units, and / or circuits are not described in detail to avoid obscuring the discussion.

[0035] Discussion herein utilizing terms such as, for example, “processing,” “computing,” “calculating,” “determining,” “establishing,” “analyzing,” “examining,” and the like may refer to one or more operations and / or processes by a computer, computing platform, computing system, or other electronic computing device that manipulate and / or transform data represented as physical (e.g., electronic) quantities within computer registers and / or memories into other data similarly represented as physical quantities within computer registers and / or memories, or other information storage media that may store instructions for performing the operations and / or processes.

[0036] As used herein, the terms "plurality" and "a plurality" include, for example, "multiple" or "two or more." For example, "a plurality of items" includes two or more items.

[0037] References to "one embodiment," "an embodiment," "illustrative embodiments," "various embodiments," etc., indicate that the described embodiment may include a particular feature, structure, or characteristic, but not every embodiment must include the particular feature, structure, or characteristic. Furthermore, repeated use of the phrase "in one embodiment" does not necessarily refer to the same embodiment, but it may.

[0038] As used herein, unless otherwise specified, the use of ordinal adjectives "first," "second," "third," etc. to describe common objects merely indicates that different instances of similar objects are referred to, and is not intended to imply that the objects described must be in a given order, whether in time, space, order, or any other manner.

[0039] As used herein, the term "circuitry" may refer to, be part of, or include an application specific integrated circuit (ASIC), an integrated circuit, an electronic circuit, a processor (shared, dedicated, or grouped), and / or a memory (shared, dedicated, or grouped) that executes one or more software or firmware programs, combinational logic circuits, and / or other suitable hardware components that provide the described functionality. In some illustrative embodiments, the circuitry may be implemented in one or more software or firmware modules, or the functionality associated with the circuitry may be implemented by one or more software or firmware modules. In some illustrative embodiments, the circuitry may include logic that is at least partially operable in hardware.

[0040] As used hereinafter, the term "module" is an object file containing code for extending the running kernel environment.

[0041] The term "software development kit" as used hereinafter is a set of software tools that contains code to implement functions and interact with other modules or applications, and the set of software tools may include integrated modules, libraries, APIs, documentation, communication protocols, etc.

[0042] Some illustrative embodiments may be built upon the web3 ecosystem concept and blockchain technology. For example, the web3 ecosystem concept and blockchain technology establish a secure, transparent, and decentralized payment system. The use of blockchain enables consumers and businesses to exchange cryptocurrencies (such as, for example, Bitcoin and Ethereum) directly via crypto wallets without the need for intermediaries. Payments are verified and anonymously registered on a distributed ledger, where, for example, a copy of the distributed ledger may be stored on a crypto wallet.

[0043] For example, ownership verification of a crypto wallet and its funds can be achieved through the use of a private-public key, as the underlying assumption is that only the owner of the crypto wallet has access to the private key, making the public key usable as a unique wallet identifier.

[0044] More than a decade after the bitcoin blockchain was first implemented, the technology is still struggling to gain adoption as a consumer payment method and remains primarily a speculative investment channel.

[0045] There are many reasons why blockchain technology and cryptocurrencies have not yet achieved their purpose of becoming viable alternatives to traditional centralized means of payment and fiat currencies.

[0046] As used hereinafter, the term "crypto wallet" may refer to an application, module, backend application, server-side SDK, or API configured to generate and store a random private key-public key pair and a corresponding crypto wallet address generated from the public key. The crypto wallet may also be configured to interact with at least one blockchain network (such as, for example, the Ethereum blockchain and other similar blockchain networks) and facilitate payments with at least one blockchain network such as, for example, Bitcoin, Solana, Cardano, Polkadot, Avalanche, etc.

[0047] The term "cryptocurrency" as used hereinafter may refer to fungible cryptocurrencies such as, for example, Bitcoin, ETH, and Sol or other tokens built on blockchain concepts and technologies.

[0048] As used hereinafter, the term "payment terminal" may include, for example, a credit card terminal of a particular merchant and / or supplier and / or store, etc., on which various payment transactions may be conducted when a consumer decides to use a payment card or other type of payment means for a payment transaction. In some illustrative embodiments, the payment terminal may be configured as a software application or SDK in an online payment processing software for e-commerce and online shopping.

[0049] First refer to Figure 1 , Figure 1 A system 100 for processing payments made using cryptocurrency is depicted in accordance with an illustrative embodiment of the present disclosure.

[0050] The system includes a software development kit (SDK) that is operably connected to at least one crypto wallet having at least one crypto address installed on an electronic device 102, wherein the SDK can be configured to transmit 104 the at least one crypto address to a payment terminal 103 at a point of sale (POS) (not shown).

[0051] In some illustrative embodiments, payment terminal 103 may be configured to transmit (shown by line 104) an invoice message to server platform 105, which may include a payment amount in a first currency (e.g., U.S. dollars) and at least one of the encrypted addresses (e.g., two encrypted addresses of the Ethereum blockchain and a single encrypted address of the Bitcoin blockchain).

[0052] In some demonstrative embodiments, system 100 may include server platform 105, which may be configured to query (illustrated by line 106) at least one blockchain network 107 for at least one balance of at least one cryptocurrency type in at least one of the crypto wallets. For example, the at least one balance of at least one cryptocurrency type in at least one of the crypto wallets may be obtained by instructing a crypto wallet module to interact with a blockchain and obtain a balance of a token associated with the crypto wallet.

[0053] For example, the server platform 105 can be configured to determine the value of at least one of the balances in a first currency (e.g., U.S. dollars) (shown by line 108) by applying at least one available exchange rate (e.g., the U.S. dollar-Bitcoin exchange rate) of the first currency from a liquidity provider (shown by line 109) to at least one of the cryptocurrency types (e.g., Bitcoin, Ethereum (ETH), etc.).

[0054] For example, the value of the cryptocurrency token can be determined by multiplying the number of tokens (e.g., 2.5 ETH) by the available exchange rate for the currency in the invoice message (e.g., $1,500). For example, the available exchange rate can be discounted by a partner company such as a liquidity provider (shown by line 109) to allow for a profit margin. The liquidity provider (shown by line 109) can be a third-party exchange that handles cryptocurrency.

[0055] In some demonstrative embodiments, server platform 105 may respond (shown by line 110) to the invoice message by sending an encrypted payment offer message to the SDK, e.g., the encrypted payment offer message may include at least one payment amount in at least one of the cryptocurrency types (e.g., Bitcoin).

[0056] For example, upon approval of the crypto payment offer by the SDK, the SDK may instruct at least one of the crypto wallets to pay (as shown by line 111) at least one of the payment amounts (e.g., 1.5 ETH) in at least one of the cryptocurrency types to the crypto address of the server platform 105.

[0057] In some demonstrative embodiments, upon approval of the crypto payment offer by the SDK, the SDK may notify the server platform of the approval, as shown by line 112. This functionality enables the system to decide, for example, to pay the payment amount in the currency in the invoice message before receiving payment in at least one of the cryptocurrency types.

[0058] For example, upon receiving at least one of the payment amounts (e.g., 1.5 ETH) in at least one of the cryptocurrency types, the server platform may be configured to pay (shown by line 113) the payment amount in the first currency (e.g., USD) in the invoice message to the payment terminal 103 of the POS (not shown).

[0059] In some demonstrative embodiments, the server platform may convert at least one payment amount (eg, 1.5 ETH) in at least one of the cryptocurrency types into a total amount in the first currency at liquidity provider 109 (shown by line 114 ).

[0060] Reference Figure 2 , Figure 2 Illustrative embodiments of the present disclosure are depicted.

[0061] In some illustrative embodiments, memory storage device 233 may be included in one or more tangible machine-readable non-transitory storage media 232. One or more tangible machine-readable non-transitory storage media 232 may include computer-executable instructions that are operable when executed, for example, by at least one computer processor and / or processing circuit system 231. For example, one or more tangible machine-readable non-transitory storage media 232 may cause at least one processing circuit system 231 to implement one or more program instructions for processing payments made using cryptocurrency, and / or one or more tangible machine-readable non-transitory storage media 232 may cause at least one processing circuit system 231 to perform, trigger, and / or implement one or more operations, communications, and / or functions, as described herein with reference to Figures 1 to 3 The phrase "non-transitory machine-readable medium" is intended to include all computer-readable media with the sole exception of transitory propagating signals.

[0062] In some illustrative embodiments, the server platform 230 may be a central computer, a server cluster, or software running on a cloud server of a service provider. The server platform 230 may provide services to client computers such as, for example, payment terminals 221 and electronic devices including SDKs, and the server platform 230 may include a machine-readable storage medium 232, which includes one or more computer-readable storage media capable of storing data, including volatile memory, non-volatile memory, removable or non-removable memory, erasable or non-erasable memory, writable or rewritable memory, etc. For example, the machine-readable storage medium 232 may include any type of memory, such as, for example, RAM, DRAM, ROM, programmable ROM (PROM), erasable programmable ROM (EPROM), electrically erasable programmable ROM (EEPROM), flash memory, hard disk drive (HDD), solid state disk drive (SDD), fusion drive, etc. The computer-readable storage medium 232 may include any suitable media that involves downloading or transferring a computer program from a remote computer to a requesting computer carried by a data signal contained in a carrier or other propagation medium through a communication link (e.g., a modem, radio, or network connection).

[0063] In some illustrative embodiments, server platform 230 may include software, firmware, software modules, applications, programs, subroutines, instructions, instruction sets, computing codes, words, values, symbols, etc., or server platform 230 may be implemented as the above. Instructions may include any suitable type of code, such as source code, compiled code, interpreted code, executable code, static code, dynamic code, etc. Instructions may be implemented according to predefined computer languages, methods, and / or syntaxes to instruct a processor to perform a specific function. Instructions may be implemented using any appropriate high-level, low-level, object-oriented, visual, compiled, and / or interpreted programming languages, such as C, C++, C#, Java, Python, BASIC, Matlab, assembly language, machine code, etc.

[0064] In some illustrative embodiments, SDK 211 is installed on electronic device 210. For example, electronic device 210 may be a personal computer, a smart phone, and / or a tablet computer. SDK 211 may be implemented in various programming languages ​​compatible with the operating system of electronic device 210.

[0065] In some illustrative embodiments, SDK 211 may be operably coupled to at least one crypto wallet 212, 214, each crypto wallet having at least one crypto address 213, 215. For example, the operable coupling of SDK 211 and the crypto wallet may be implemented by integration as a software module in SDK 211, but may also be implemented by downloading a crypto wallet 214 application (e.g., Metamask) installed on the same electronic device 210 or a different electronic device. TM ) to gain access and control permissions.

[0066] In some demonstrative implementations, SDK 211 may include instructions for transmitting at least one encrypted address 213 , 215 to a payment terminal 221 at a point of sale (POS) 220 .

[0067] In some illustrative embodiments, payment terminal 221 and POS 220 may be located at a physical location such as a restaurant or store, in which case payment terminal 221 may be a payment processing computer, such as one used to process credit card payments. In this case, SDK 211 may use near field communication (NFC) of electronic device 210 to transmit identification information of the SDK that may include an encrypted wallet address.

[0068] It is understood that POS 220 may be located at a certain distance and may be purchased in an online store. For this case, SDK 211 may include instructions for transmitting the required information to payment terminal 221 via Internet protocol, which payment terminal 221 may be implemented as a software module or API that employs the functionality described herein.

[0069] For example, payment terminal 222 may receive encrypted address 213 and other information such as, for example, metadata from SDK 211, and payment terminal 222 may receive payment-related data such as a total amount to be paid and a list of items from a checkout register from POS 220.

[0070] In some demonstrative implementations, payment terminal 221 may generate invoice message 222. For example, invoice message 222 may include a JSON file containing structured information readable by server platform 230.

[0071] For example, the invoice message 222 may include identification information such as, for example, the identity of the POS 220 , the user ID operating the SDK 211 , the consumer's encrypted address 213 , and their respective blockchains 240 .

[0072] For example, invoice message 222 may include payment information, such as, for example, a payment amount in a first currency and a list of items to be paid for.

[0073] For example, invoice message 222 may include the following descriptive information: 50 Euros as the payment amount in the first currency, the supplier account name, 2 encrypted addresses of the Ethereum blockchain, and 1 encrypted address of the Bitcoin network.

[0074] In some demonstrative implementations, payment terminal 221 may be configured to transmit invoice message 222 to server platform 230. For example, the content of invoice message 222 may be retrieved and stored in a consumer and payment database.

[0075] In some demonstrative implementations, the balance of the cryptocurrency in crypto wallet 214 indicated in invoice message 222 may be queried by accessing blockchain 240 of crypto address 213 .

[0076] In some demonstrative embodiments, querying blockchain 240 may be performed for verification purposes because the SDK may include instructions for interacting with crypto wallet 212 and directly accessing balance information and thereafter providing the balance information to server platform 230 .

[0077] In some illustrative embodiments, the value of a crypto wallet balance may be determined by applying data from an exchange rate database 235, which may be updated as needed from various sources, such as, for example, exchange rates provided by liquidity providers that provide exchange services for various cryptocurrencies.

[0078] In some demonstrative embodiments, memory storage device 233 may include crypto wallet balance and value database 234 including information about crypto addresses 213 associated with consumers, balances of cryptocurrencies in crypto wallets 214, and their values ​​in traditional currencies.

[0079] In some demonstrative embodiments, memory storage device 233 may include offer module 236 containing instructions for generating and transmitting to SDK 211 an encrypted payment offer message 237 in response to invoice message 222. For example, a JSON file containing structured information readable by an application built using SDK 211.

[0080] For example, the encrypted payment offer message 237 may include at least one payment amount in at least one of the cryptocurrency types.

[0081] For example, based on the determined balance value, the offer module 236 can generate a crypto payment offer message 237 to the consumer to redeem the purchased goods for the cryptocurrency in its crypto wallet. This feature may be particularly useful because vendors may not be willing to accept cryptocurrency directly, and cryptocurrency owners may not be willing to deposit their cryptocurrency in an account held by a third party.

[0082] In some illustrative embodiments, the at least one payment amount in at least one cryptocurrency type of the encrypted payment offer message may be a plurality of payment amounts in a plurality of cryptocurrencies. For example, an offer 237 may be generated that includes three payments in different cryptocurrencies on different blockchains. For example, a dozen ETH and a few Bitcoins may be used to pay for the purchase of a car, with the value being all digits after a decimal point.

[0083] In some illustrative embodiments, at least one payment amount in at least one cryptocurrency type in the encrypted payment offer message can be determined based on at least one factor selected from the following: the value of at least one of the balances, a preference for cryptocurrency types (e.g., a preferred type list or a blacklist of prohibited types); a risk factor of the cryptocurrency, a profit margin, a transaction cost of the cryptocurrency (e.g., GAS cost).

[0084] For example, the composition of a payment made in a cryptocurrency may be determined to provide an optimal compromise between various often competing factors, e.g., server platform 230 may obtain a more favorable exchange rate from certain cryptocurrencies while transaction costs may not be sufficiently low at the time of payment. Other considerations may include volatility conditions on certain cryptocurrencies, which may affect the composition of the payment.

[0085] In some demonstrative embodiments, SDK 211 may include instructions for receiving offer message 237 and prompting a consumer to approve the offer, for example, by displaying the offer and listening for an approval event via a front-end user interface.

[0086] In some demonstrative embodiments, SDK 211 may include instructions for instructing at least one of the crypto wallets 212, 214 to pay at least one of the payment amounts in at least one of the cryptocurrency types to a crypto address 242 in a crypto wallet 241 of server platform 230 upon approval of the crypto payment offer 237.

[0087] Advantageously, the system disclosed herein features that consumers may not need to manually enter multiple payment amounts in cryptocurrencies, which may typically include 18 digits after a decimal point. This feature can combine user error prevention with practicality and ease of use while keeping cryptocurrency balances in a wallet held by the consumer rather than a wallet held by a third-party company.

[0088] In some demonstrative embodiments, after the encrypted payment offer 237 is approved by the SDK 211 , the SDK 211 may notify the server platform 230 of the approval.

[0089] In some demonstrative embodiments, server platform 230 may include payment processing module 239 that includes instructions for paying POS 220 a payment amount in the first currency in invoice message 222. For example, upon receiving at least one of the payment amounts in at least one of the cryptocurrency types, the payment amount in the first currency in invoice message 222 is paid.

[0090] In some demonstrative embodiments, payment processing module 239 may include instructions for paying POS 220 before receiving the payment amount in all cryptocurrencies in a crypto wallet of server platform 230. For example, if a delay in one of the blockchains does not allow the transaction to proceed immediately, server platform should pay POS 220 the amount of invoice message 222 even if confirmation of the cryptocurrency payment is still unavailable.

[0091] In some demonstrative embodiments, payment processing module 239 may include instructions for instructing SDK 211 to delay payment of at least one payment amount in at least one cryptocurrency type. For example, if the transaction cost of the cryptocurrency type is not optimal and the consumer has a low risk factor, server platform 230 may pay the amount of invoice message 222 to POS 220.

[0092] In some illustrative embodiments, payment processing module 239 may include instructions for converting at least one payment amount received in at least one of the cryptocurrencies into a total amount in a first currency at a liquidity provider (not shown), for example, to limit the exposure of the server platform operator to cryptocurrencies.

[0093] In some demonstrative embodiments, server platform 230 may include a risk assessment module 238 that includes instructions for determining a risk factor for a consumer based on at least one factor selected from: historical data of previous payments made by the consumer and verified alternative payment methods for the consumer available to the SDK 211.

[0094] Reference Figure 3 , Figure 3 is an illustration of a flow diagram of a method for processing payments made using cryptocurrency, according to some demonstrative embodiments. For clarity, structural components are shown by Figure 2 The method is cited with reference in, but the method can be implemented with other embodiments.

[0095] In some demonstrative implementations, method 300 may begin by operatively coupling SDK 211 with at least one crypto wallet 212, 214, each crypto wallet having at least one crypto address 213, 215 (text box 301).

[0096] In some demonstrative implementations, method 300 may continue with SDK 211 transmitting at least one encrypted address 213 , 215 to payment terminal 221 at point of sale (POS) 220 (text box 302 ).

[0097] In some illustrative embodiments, the method may continue (not shown): SDK 211 transmits the user ID to payment terminal 221 at point of sale (POS) 220. For example, the user ID is transmitted with invoice message 222 to payment terminal 221. For example, at a later stage of the method, server platform 230 may send a request to SDK 211 to provide a list of at least one cryptographic address 213 of cryptographic wallet 212 connected to the SDK. For example, at a later stage of the method, in response to the request, SDK 211 may send the list of at least one cryptographic address 213 to server platform 230.

[0098] In some demonstrative implementations, method 300 may continue with payment terminal 221 generating invoice message 222. For example, invoice message 222 may include the encrypted address 213 of the consumer and the payment amount in the first currency (text box 303).

[0099] In some demonstrative embodiments, method 300 may continue with payment terminal 221 transmitting invoice message 222 to server platform 230 (text box 304 ).

[0100] In some demonstrative embodiments, method 300 may continue by server platform 230 querying blockchain 240 for encrypted address 213 to obtain the balance of the cryptocurrency in encrypted wallet 214 indicated in invoice message 222 (text box 305).

[0101] In some demonstrative implementations, method 300 may continue by determining a value of the crypto wallet balance by applying data from available exchange rate database 235 (box 306).

[0102] In some demonstrative embodiments, method 300 may continue by generating and transmitting encrypted payment offer message 237 to SDK 211 in response to invoice message 222. For example, encrypted payment offer message 237 may include at least one payment amount in at least one of the cryptocurrency types (text box 307).

[0103] In some demonstrative embodiments, method 300 may continue by SDK 211 instructing at least one of the crypto wallets 212, 214 to pay at least one payment amount in at least one of the cryptocurrency types to the crypto address 242 of server platform 230 after approving the crypto payment offer 237 (text box 308).

[0104] In some illustrative embodiments, method 300 may continue by server platform 230 paying POS 220 the payment amount in the first currency in invoice message 222 (text box 309). For example, after receiving at least one payment amount in a token of a cryptocurrency type, the payment amount in the first currency in invoice message 222 is paid to POS 220.

[0105] The subject matter described above is provided by way of illustration only and should not be construed as limiting. Various modifications and changes may be made to the subject matter described herein without following the illustrated and described example implementations and applications without departing from the true spirit and scope of the present disclosure as set forth in the appended claims.

Claims

1. A system for processing payments using cryptocurrency, the system comprising: A server platform, wherein the server platform is configured to: receiving an invoice message from a payment terminal at a point of sale (POS), the invoice message comprising a payment amount in a first currency and a plurality of encrypted addresses at at least one blockchain; Requesting a query on the at least one blockchain for the balances of the cryptocurrency in the plurality of the encrypted addresses; determining a value of the balance in the first currency by applying at least one available exchange rate between the first currency and the cryptocurrency; The invoice message is responded to by sending an encrypted payment offer message to a software development kit (SDK) installed on an electronic device and operably connected to one or more encrypted wallets containing multiple encrypted addresses, wherein the encrypted payment offer message includes multiple payment amounts in multiple cryptocurrencies; wherein the multiple payment amounts are determined based on at least one factor selected from the following: the value of the balance, the preference for the cryptocurrency type; the risk factor of at least one of the cryptocurrency types, and the risk factor of consumer transaction costs of multiple cryptocurrencies.

2. The system according to claim 1, comprising an electronic device, wherein: The electronic device is configured to: Operably linking the SDK with at least one crypto wallet having at least one crypto address; transmitting the plurality of encrypted addresses to the payment terminal; receiving the encrypted payment offer message from the server platform; Approve the crypto payment offer.

3. The system according to claim 2, wherein: The electronic device is configured to: after the encrypted payment offer is approved by the SDK, the SDK instructs the at least one encrypted wallet to pay multiple payment amounts in multiple cryptocurrencies to the encrypted address of the server platform.

4. The system according to claim 2, wherein: The electronic device is configured such that, after the encrypted payment offer is approved by the SDK, the SDK notifies the server platform of the approval.

5. The system according to claim 1, wherein: The server platform is configured to pay the payment amount in the invoice message in a first currency to the POS.

6. The system according to claim 1, wherein: The server platform is configured to convert the received multiple payment amounts in multiple cryptocurrencies into a total amount in the first currency at a liquidity provider.

7. The system according to claim 1, wherein: The server platform is configured to: A risk factor for a consumer is determined based on at least one factor selected from: historical data of previous payments made by the consumer and verified alternative payment methods for the consumer that are available to the SDK.

8. The system according to claim 2, wherein: The server platform is configured to: transmitting said payment in said first currency to said POS prior to receiving at least one said payment amount in at least one said cryptocurrency type based on at least one factor selected from: a risk factor of a consumer; At least one risk factor for the type of cryptocurrency described; A network condition of said at least one blockchain network of at least one of said cryptocurrency types.

9. A server platform comprising one or more tangible computer-readable non-transitory storage media, the one or more tangible computer-readable non-transitory storage media comprising program instructions for processing payments made using cryptocurrency, wherein: Execution of the program instructions by one or more processors causes: receiving an invoice message from a payment terminal at a point of sale (POS), the invoice message comprising a payment amount in a first currency and a plurality of encrypted addresses of at least one crypto wallet, the at least one crypto wallet operably coupled to a software development kit (SDK) installed on the electronic device; querying at least one blockchain network for the balances of the plurality of cryptocurrencies in the at least one crypto wallet; determining a value of at least one of said balances in said first currency by applying at least one available exchange rate between said first currency and said cryptocurrency; The invoice message is responded to by sending an encrypted payment offer message to the SDK, wherein the encrypted payment offer message includes multiple payment amounts in multiple cryptocurrencies; wherein the multiple payment amounts are determined based on at least one factor selected from the following: the value of the balance, a preference for a cryptocurrency type; a risk factor for at least one of the cryptocurrency types, and a risk factor for consumer transaction costs for multiple cryptocurrencies.

10. The server platform according to claim 9, wherein: Execution of the program instructions by one or more processors causes: At least one payment amount in a plurality of said cryptocurrencies received to the encrypted address of said server platform is registered in a database.

11. The server platform according to claim 9, wherein: Upon receiving the plurality of payment amounts in the plurality of cryptocurrencies, the program instructions are executed by one or more processors such that: The received payment amount is converted into a total amount in the first currency at the liquidity provider.

12. The server platform according to claim 9, wherein: Upon receiving the plurality of payment amounts in the plurality of cryptocurrencies, the program instructions are executed by one or more processors such that: The payment amount in the first currency in the invoice message is paid to the POS.

13. The server platform according to claim 9, wherein: Execution of the program instructions by one or more processors causes: A risk factor for a consumer is determined based on at least one factor selected from: historical data of previous payments made by the consumer and verified alternative payment methods for the consumer that are available to the SDK.

14. The server platform according to claim 9, wherein: Execution of the program instructions by one or more processors causes: transmitting said payment in said first currency to said POS prior to receiving a plurality of said payment amounts in a plurality of said cryptocurrencies based on at least one factor selected from: a risk factor of a consumer; At least one risk factor for the type of cryptocurrency described; A network condition of said at least one blockchain network of at least one of said cryptocurrency types.

15. An electronic device comprising one or more tangible computer-readable non-transitory storage media having installed thereon a software development kit (SDK) for processing payments made using cryptocurrency, wherein: The program instructions of the SDK are executed by one or more processors so that: transmitting a plurality of encrypted addresses of at least one encrypted wallet to a payment terminal; Receiving an encrypted payment offer message from a server platform, wherein the encrypted payment offer message includes a plurality of payment amounts in a plurality of the cryptocurrencies; wherein the plurality of the payment amounts are determined based on at least one factor selected from: a value of the balance, a preference for a type of cryptocurrency; a risk factor for at least one type of the cryptocurrency, and a risk factor for consumer transaction costs for a plurality of the cryptocurrencies; approving said crypto payment offer; Instructing the at least one crypto wallet to pay a plurality of the payment amounts in a plurality of the cryptocurrencies to the crypto address of the server platform.

16. The electronic device according to claim 15, wherein: The program instructions of the SDK are executed by one or more processors so that: The plurality of encrypted addresses are transmitted to a remote payment terminal via an Internet protocol.

17. The electronic device according to claim 15, wherein: The program instructions of the SDK are executed by one or more processors so that: The plurality of encrypted addresses are transmitted to the payment terminal via a near field communication kit of the electronic device.

18. The electronic device according to claim 15, wherein: The program instructions of the SDK are executed by one or more processors so that: After the encrypted payment offer is approved by the SDK, the SDK notifies the server platform of the approval.

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