CPC G06Q 20/405 (2013.01) [G06Q 20/202 (2013.01)] | 20 Claims |
1. A method, comprising:
broadcasting, by a processor of a financial institution computing system, a math based currency (MBC) transfer comprising transaction information to a plurality of MBC verification nodes via a network;
in response to broadcasting to the plurality of MBC verification nodes, receiving, by the processor of the financial institution computing system from a merchant point of sale (POS) terminal, a payment reimbursement request comprising a guarantee identifier associated with the MBC transfer generated by the processor of the financial institution computing system and wherein the guarantee identifier is embedded into a metadata field for the MBC transfer;
determining, by the processor utilizing the guarantee identifier, the transaction information comprising at least one of an identifier of a merchant and an identifier of the merchant POS terminal;
determining, by the processor utilizing the transaction information, the guarantee identifier is associated with a failed transaction based on accessing and analyzing a plurality of transactions on the plurality of MBC verification nodes of a MBC blockchain;
based on identifying the failed transaction, initiating, by the processor, a MBC payment from a MBC address of the financial institution computing system to a MBC address of the merchant.
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