CPC G06Q 20/401 (2013.01) [G06Q 20/102 (2013.01); G06Q 20/36 (2013.01); G06Q 20/389 (2013.01); H04L 9/30 (2013.01); H04L 9/3239 (2013.01); H04L 9/3297 (2013.01); H04L 63/0428 (2013.01); G06F 16/2379 (2019.01); G06Q 2220/00 (2013.01); H04L 9/50 (2022.05); H04L 2209/56 (2013.01)] | 16 Claims |
1. A method, comprising:
requesting, by a merchant system in electronic communication with a merchant blockchain wallet, a merchant public key and a merchant private key from the merchant blockchain wallet;
generating, by the merchant system, a smart contract based at least in part on an input regarding a proposed good or service;
selecting, by the merchant system, the smart contract;
deploying, by the merchant system, the smart contract to a blockchain;
registering, by the merchant system, the deployed smart contract with an issuer system, wherein registering further comprises:
transmitting, by the merchant system in electronic communication with the issuer system, a merchant ID, the merchant public key, and the deployed smart contract to the issuer system to register a merchant-to-smart contract relationship, which links the deployed smart contract with the merchant ID; and
receiving, by the merchant system in electronic communication with the issuer system, a registration confirmation;
receiving, from a user device, a request for a transaction to purchase the good or service based on the deployed smart contract, the transaction request comprising a transaction account number;
transmitting, by the merchant system to the issuer system, a transaction authorization request comprising the merchant ID and the transaction account number; and
receiving, by the merchant system from the deployed smart contract via the issuer system, a payment receipt, the payment receipt comprising a status of the transaction.
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