Browse Prior Art Database

Localized Currency Presentation

IP.com Disclosure Number: IPCOM000032947D
Original Publication Date: 2004-Nov-19
Included in the Prior Art Database: 2004-Nov-19
Document File: 1 page(s) / 30K

Publishing Venue

IBM

Abstract

Communication of transaction currency preference

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This is the abbreviated version, containing approximately 100% of the total text.

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Localized Currency Presentation

When travelling using a credit card or intransactions using point of sale terminals or Automated Teller Machines (ATMs) one must quickly perform a mental currency conversion. For example when withdrawing from an ATM in Mexico one often forgets that one is entering amounts in Pesos and elect to withdraw $200.00 which is aproximately $20 converted to Pesos, necessitating a second transaction and an additional transaction fee - or one may enter a Peso amount that marginally exceeds ones daily transaction limit in native currency causing a delay for others waiting.

When making a charge transaction or when making a purchase the amount is presented on the ticket and display - in local currency. It would be simpler and more convenient to read from the card or from a wireless device the native country / currency of the user and present a second set of figures with either a real time calculation of the exchange, the sites current exchange rate or an approximation of the exchange at the time of the transaction.

Encoding a native or preferred currency and country on the charge card or ATM card that the ATM or POS terminal could ( the information could be derived from another source wireless and instant preferably) and adjust the display and printing to accommodate the added information for the convenience of the traveller.

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