Abstract: This invention relates to the field of commerce and in particular to a method of transferring funds using a payment card. Existing funds transfer systems suffer from a number of problems including for example lengthy delays associated with their delivery, high processing costs and high administrative costs. To alleviate these difficulties the present invention provides a method of transferring funds from a first payment cardholder to a second payment cardholder comprising the steps of; receiving an indication from the first cardholder that a transfer of funds is required to the second cardholder, generating a first payment card transaction between a first merchant and the first cardholder for a negative amount associated with the value of funds to be transferred, and generating a second payment card transaction between a second merchant and the second cardholder for a positive amount associated with the value of funds to be transferred.

Abstract: The present invention relates to card payment systems. In particular, the present invention relates to systems and methods for processing payment card transactions in a dynamic currency conversion and/or multi-currency scheme. To operate correctly, ghost transactions are used. However to prevent duplication of debits against the Card Holder, these “ghost copy” transactions must not be processed into the card schemes with the normal transactions. Thus the Acquirer's and/or third parties host systems have to be amended, in addition to modifications to the related accounting thereof.

Abstract: The present invention relates to Card Payment Systems for use in a multi-currency environment. In particular, the present invention provides a system and method for identifying an appropriate currency for individual transactions conducted using a card payment system, using the steps of identifying (50) an identifier code (60(1-n)) from a payment card, and determining (52) from the identifier code (60(1-n)) a suitable currency (61(1-n)) for association with said payment card transaction. The identifier code is preferably a portion of the card number of the payment card. The transaction may be processed (54) in the suitable currency or the transaction amounts may be displayed in the suitable currency for information purposes.