METHOD AND SYSTEM FOR PROCESSING A CROSS-BORDER PAYMENT

METHOD AND SYSTEM FOR PROCESSING A CROSS-BORDER PAYMENT

METHOD AND SYSTEM FOR PROCESSING A CROSS-BORDER PAYMENT A method for processing a cross-border payment includes receiving inbound payment data from a first financial institution located in a first country. The inbound payment data is in a first message format. The method further includes generating...

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Hauptverfasser: PARMAR, Twinkle Mahendra, AGARWALLA, Sachin Kumar, CHANDRASEKARAN, Vasudevan, SRINIVASAN, Haribabu, PAREEK, Ravi
Format: Patent
Sprache:eng
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Zusammenfassung:METHOD AND SYSTEM FOR PROCESSING A CROSS-BORDER PAYMENT A method for processing a cross-border payment includes receiving inbound payment data from a first financial institution located in a first country. The inbound payment data is in a first message format. The method further includes generating a payment request based on the inbound payment data such that the payment request is in the second message format, and processing the generated payment request. Processing comprises approving or declining the payment request. If the payment request is approved, the method further includes generating outbound payment data such that the outbound payment data is in the first message format, and sending the outbound payment data to a second financial institution located in a second country. A system for processing a cross- border payment is also provided. FIG. 2