TECHNICAL FIELDOFTHE INVENTION
The subject matter of the present invention broadly relates to the Held of Fintech, particularly relates to a solution for monetary transaction using e-wallets for merchant payments and more particularly, it relates to a method and system for facilitating cross border merchant payments while a user travels overseas.
BACKGROUND QFTHE INVENTION
Based on statistical data and further market analysis reports, it is observed that approximately 2.1 billion consumers globally used e-wallets or digital wallets such as mobile wallets to make payments such as merchant payments or send money as of the year 2019, which is up nearly 30% from 1.6 billion recorded at the end of 2017. According to reports from Paymentscardsandmobile.com (Reference URL: hup:// www, paymentscardsandmobile.com /alternative-pay ments-overtake-cred it-debit-card-pay ments-globa I ly, last accessed November I 1, 2020), it has been estimated that alternative payments accounts \^ov 59% of alt online transactions in 2017, up from 43% in 2012. Evidently, there is a rise in the number of users of the digital wallets. The need of such digital, cashless monetary transaction obtained additional relevance in the face of the Indian government's demonetization, thereby fast tracking the use of mobile wallets. This growth gives an opportunity for a new paradigm to globally connect different mobile networks, banks and digital mobile wallet services to allow the functioning of different payment interfaces across systems, currencies and borders, thereby enabling the exploitation of digital payments and mobile wallets to international travellers and make economies more cashless.
Credit and debit cards have dominated the Fintech market for a substantial period of time and have been the payment method of choice for online transactions. However, it has been evidenced that alternative payments methods are equally preferred and used widely mostly for convenience and security. As per the earlier mentioned report, card payment market share inclusive of credit and debit cards showed a decline from about 57% in 2012 to about 41% in 2017.
On another instance, it is observed that during previous five years total outbound Indian travellers increased from 16.63 million in 2013 to 21.87 million in 2016 with an expected projection of 50 million by 2020 considering a normal scenario and not considering a pandemic. Most of these Volume of Indian travellers are from middle income groups and usually the travellers are not well acquainted with credit card in routine. International credit card usage is troublesome for them in general, but payment mobile wallet usage is usually recognised and comfortable to most people considering the Digital Payment initiatives made by Governments. Further most travellers feel comfortable and confident while travelling overseas as they are also in loop with own domestic payment system i.e. Bank/ Mobile Wallet and Indian Money changer. In other words, accountability is offered. This gives them a sense of freedom as inconveniences and grievances may be resolved easily in India at any time. As per the case studies and market analysis. Indian mobile wallet market size is projected to reach US $6.6 Billion by 2020. Another aspect is the fact

that digital wallets do not demand the need of carrying yet another entity to enable payment, which is the case with credit or debit cards. The services of a digital card can be accessed by way of a mobile phone itself.
Reference is made to US20150170112A1 that discloses a solution for conducting financial transactions, digital asset exchanges, and multi-currency interoperability on a private network of member subscribers in communication with other commercial banking and finance networks and services, where the system includes a specially adapted currency storage and conversion card apparatus, the card further comprising means for executing said transactions and exchanges using one or two or more currencies, where at least one of said currencies in preferred embodiments is a virtual digital currency hosted on said private network and combining features of both decentralized and centrally-regulated cryptocurrency systems; as well as a host of hardware and software means for integrating all of the above advantageously in various contingencies and circumstances. Although therein disclosed system involves systems and methods for providing multi-currency platforms comprising means lor exchanging and interconverting tangible and virtual currencies in various transactions, banking operations, and wealth management scenarios, it involves the use of cards and not particularly e-wallets.
Another reference is made to US20150262168A1 that discloses a system and method for transaction bitcoin. Bitcoin can be sent to an email address. No miner's fee is paid by a host computer system. Hot wallet functionality is provided that transfers values of some Bitcoin addresses to a vault \'ov purposes of" security. A private key of a Bitcoin address of the vault is split and distributed lo keep the vault secure. Instant exchange allows for merchants and customers to lock in a local currency price. A vault has multiple email addresses to authorize a transfer of bitcoin out of the vault. User can opt to have private keys stored in locations that are under their control. A tip button rewards content creators for their efforts. A bitcoin exchange allows for users to set prices that they are willing to sell or buy bitcoin and execute such trades. Apparently this prior art discloses'transactions that involve bitcoins.
Another reference is made to US20140304154AI that discloses a system and method for using a digital wallet. A request is received from a wallet application on a mobile device of a first user. The request indicates a transfer of a value to a second user. The value is associated with a source selected from a plurality of sources associated with a user account of the first user. The plurality of sources is associated with monetary values and non-monetary values. The value indicated in the request is transferred. The source of the value is updated to reflect the transfer of the value to the second user.
Yet another reference is made to US5884290A that discloses a method of transferring funds electronically, performed by a group of N computers X(l) through X(N) which are intercoupled to each other, and to another computer Y, by a communication channel. Each computer of the group includes multiple customer accounts, and the computer Y includes a net account for each computer of the group. To initiate the

transfer of funds between two customer accounts, a customer sends an input request to one of computers X(i) of the group; and this input request specifies that funds F(z) be transferred in a particular direction between a customer account A(r) in computer X(i) and a customer account A(s) in another computer X(j) of the group. For each input request that is received by computer X(i), a respective sequence of electronic control messages is sent on the communication channel among the computers X(i). X(j) and Y. By this sequence of control messages, computer X(i) tests the status of customer account A(r); computer X(j) tests the status of customer account A(s); and computer Y tests the status of the net accounts for computers X(i) and X(j). If all of the tests by the computers X(i) and x(j) are satisfied, then those computers both authorize computer Y to transfer the funds F(z) between the net accounts for computers X(i) and X(j); and if all of the tests by computer Y are satisfied, then computer Y authorizes the computers X(i) and X(j) to transfer the funds F(z) between the customer accounts A(r) and A(s). However, it does not provide any solution for the payment via digital wallets of one country to another country.
Observing the rate of growth of mobile wallet users and that of international travellers worldwide, it is therefore observed that a solution facilitating the users to make payments across the globe through mobile wallet is required. Therefore, in view of the prior art disclosed herein above, there exists a need of a simple convenient system that is also under the watch of regulatory bodies, to facilitate the payment through digital wallets across the globe.
SUMMARY OFTHE INVENTION
The following presents a simplified summary of one or more aspects in order to provide a basic-understanding of such aspects. This summary is not an extensive overview of all contemplated aspects, and is intended to neither identify key or critical elements of all aspects nor delineate the scope of any or all aspects. Its sole purpose is to present some concepts of one or more aspects in a simplified form as a prelude to the more detailed description that is presented later.
An object of the present invention is to overcome the drawbacks of the prior ait solutions of the present invention.
Another object of the present invention is to provide a system for digital payments to merchants while a user is on an international travel.
Yet another object of the present invention is to provide a method enabling creation of an Alternate Payment Methodology for facilitating payments to overseas merchants while travelling, using home country's Bank or digital wallet.

A further object of the present invention is to provide a method that assures overseas traveller's transactions accountable to the regulatory bodies.
A still further object of the present invention is to provide a system for Real-time Payments (RTP). > immediate funds availability and instant confirmation of the payments made through the digital forex conversion.
Another object of the present invention is to provide a system that avoids the securities and risks involved in carrying cash while travelling to a foreign country such that it provides secure and safe method of ) payments even for petty expenses.
Yet another object of the present invention is to provide a system that has transparency on conversion charges of currencies and real-time forex rates to the foreign travellers before making the payment.
A further object of the present invention is to provide a method to avoid paying of existing dual conversion charges for the remaining forex conversion to home currency post travel.
The herein disclosed invention will provide to be essential for moving towards Digital economy roadmap at the same time providing a comfort zone to the international travellers to have an alternative payments solution.
In an aspect of the present invention is disclosed a system for interlinking at least two e-wallets of two different countries for facilitating merchant payments via e-wallet of a second country from a registered bank account in a first country, while being in a second country. The system comprises a Verification Engine, configured to complete a procedure of verifying a user based on a set of multiple guidelines and rules, thereby enabling an authorized authentic user to use e-wallet of the first country while being in the second country; a Foreign exchange, Forex Conversion Engine, configured to convert the currency of the first country to the currency of the second country based on a latest foreign exchange rate for facilitating a transaction in the second country from the registered bank of e-wallet of the first country and a Payment Processor Engine configured to send a request to the registered bank of the first country for transaction involving the converted currency of the second country.
In another aspect of the present invention is disclosed a registration method for a new user using a mobile communication device, to register itself to a digital forex conversion and payment system when the user is travelling from a first country to a second country, wherein the first country is the home country and the second country is the foreign country. This disclosed the method comprises selecting, by the user, the system as an option in an e-wallet of the first country in the mobile communication device; registering with the chosen system to complete a verification procedure of the user, wherein the verification procedure

is based on the regulations of both the first country and the second country; uploading by the user one or more documents for enabling the verification procedure of the user; aborting, by the system, if the verification procedure fails and generating, by the user, a secured 3D login personal identification number (PIN) and secured 3D transaction PIN, if the verification procedure succeeds.
In a further aspect of the present invention is disclosed a method for making payments for purchase of goods or services by a user in a second country using a mobile communication device through a digital forex conversion and payment system from a registered bank account in a first country, wherein the first country is the home country and the second country is the foreign country. The said method comprises selecting, by the user, the system as an option in a digital wallet of the second country in the mobile communication device to make payment from a registered bank account in the first country; forwarding, by the digital wallet of the second country the payment request to system; calculating, by the system, the net payable amount based on the foreign exchange rate and the additional charges and further reverting, by the system, to the digital wallet of the second country, the net calculated amount; displaying, by digital wallet of the second country, the net calculated amount in the equivalent currency of the first county with the currency conversion charges to the user and proceeding to make the payment, via the system, using a secure 3D transaction personal identification number (PIN).
The present invention provides transparency regarding conversion rate and other levied charges before the payment and avoids double conversion charges. It will also give users a flexibility to convert and pay the money conversion charges only for the payable amount on the real-time basis. It also provides aggregator services to various mobile wallets and provides interoperability within the regulatory framework of respective countries, Further, the present invention provides loading money in home country bank account/ mobile wallet with home currency and transact through partner mobile wallet in foreign country in the respective currency. It also maintains transaction records and keep overall track of amount spent during the visit and providing updated balance in the home country bank account/ mobile wallet.
To the accomplishment of the foregoing and related ends, the one or more aspects comprise the features hereinafter fully described and particularly pointed out in the claims. The following description and the annexed drawings set forth in detail certain illustrative features of the one or more aspects. These features are indicative, however, of but a few of the various ways in which the principles of various aspects may be employed, and this description is intended to include all such aspects and their equivalents.
BRIEF DESCRIPTION OF THE ACCOMPANYING DRAWINGS
The accompanying figures, where like reference numerals refer to identical or functionally similar elements throughout the separate views, together with the detailed description below, are incorporated in

and form part of the specification, and serve to further illustrate embodiments of concepts that include the claimed invention, and explain various principles and advantages of those embodiments.
Figure I illustrates a schematic network showing the use of the system for cross-country payments using existing digital mobile wallets in different countries according to an embodiment of the present invention.
Figure 2 illustrates an exemplary system involving a consumer-to-merchant payment environment according to an embodiment of the present invention.
Figure 3 illustrates a flowchart depicting the registration method for a new user using a mobile communication device when the user intends to travel overseas through XeOPAR according to an embodiment of the present invention.
Figure 4 (a)-(c) illustrates flowchart depicting the payment method using a mobile communication device through XeOPAR while the user is travelling overseas according to an embodiment of the present invention.
Figure 5 illustrates a schematic flow diagram depicting flow of transactions happening between various involved entities by way of an example according to an embodiment of the present invention.
Skilled artisans will appreciate that elements in the figures are illustrated for simplicity and clarity and have not necessarily been drawn to scale. For example, the dimensions of some of the elements in the figures may be exaggerated relative to other elements to help to improve understanding of embodiments of the present invention.
DETAILED DESCRIPTION OF THE PRESENT INVENTION
Various aspects are now described with reference to the drawings. In the following description, for purposes of explanation, numerous specific details are set forth in order to provide a thorough understanding of one or more aspects. It may be evident, however, that such aspect(s) may be practiced without these specific details. Further, the elements, and their configuration thereof which are well known in the art are omitted from the disclosure made herein for purposes clarity and conciseness.
Accordingly, those skilled in the art will derive various changes and modifications of the embodiments described herein can be made without departing from the scope of the invention.
The terms and words used in the following description are not limited to the bibliographical meanings, but. are merely used by the inventor to enable a clear and consistent understanding of the invention.

Accordingly, it should be apparent to those skilled in the art that the following description of exemplary embodiments of the present invention are provided for illustration purpose only and not for the purpose of limiting the invention as defined by their equivalents. It is to be understood that the singular forms "a," "an," and "the" include plural referents unless the context clearly dictates otherwise.
By the term "substantially'' wherever used or will be used later it is meant that the recited characteristic, parameter, or value need not be achieved exactly, but that deviations or variations, including for example, tolerances, measurement error, measurement accuracy limitations and other factors known to those of skill in the art, may occur in amounts that do not preclude the effect the characteristic was intended to provide.
It should be emphasized that the term "comprises/comprising" when used in this specification is taken to specify the presence of stated features, integers, steps or components but does not preclude the presence or addition of one or more other features, integers, steps, components or groups thereof
Disclosed in the various embodiments of the present invention is a solution that enables digital payment to the merchants while a user is on an international travel. As per the disclosed invention, the users move from cash to digital economy and at the same time makes it accountable to concerned regulatory bodies. Therefore, it easily solves the drawbacks of the state-of-the-art with systems and methods fov digitally making payments to merchants vide usage of a respective country's mobile wallet using a system that acts as bridge between a first country and a second country, such that the First country is the home country and the second country is the country in which the user is visiting.
Reference is made to figure 1 of the present disclosure that shows schematically a network in which the disclosed invention may be used. A user in his home Country has an account with his domestic Bank or e-wallet like a mobile payment wallet i.e. Domestic Bank/ mWallet (101). in which mWallet is a digital wallet or e-wallet such as a mobile wallet. The deposit in this wallet will be in the local currency of his home country. The visiting Country has its local mobile wallet i.e. overseas mWallet (102) in the local currency of the visiting country. At various junctures in the disclosure, home country or domestic country is referred as a first country while foreign country is referred as a second country. The Domestic Bank/ mWallet (101) is indicative of a registered bank account in the first country.
According to an embodiment of the invention is disclosed a system, a Digital Forex Conversion and Payment System referred from now onwards as XeOPAR (100) in the present disclosure. The disclosed system (100) is associated with domestic bank/ mWallet (101) in the home country and the overseas mWallet (102) in the visiting country. Firstly, a user having a mobile device (103) needs to register with Domestic Bank/ mWallet (101) for availing the service of the system. XeOPAR (100) operates in accordance with multiple guidelines provided by regulatory of home country (105) and visiting country (106). Overseas mWallet is associated with the various local merchants and service providers of the

visiting country for receiving digital payment from visitors. The system (100) is operably linked with the registered bank of the home country, e-vvallet of the first country, and e-vvallet of the second country.
The disclosed XeOPAR (100) is configured to manage all the Forex transactions between the Domestic Bank/ mWallet (101) and the overseas mWallet (102). The transactions are in accordance with the rules and regulations of the Foreign Exchange Regulatory of both the countries. Additionally, the entire data will also be shared with both the regulatory bodies to increase transparency of monetary transactions and for audit purposes.
Reference is made to figure 2 that disclose a schematic representation of a system and a sub-system of the disclosed XeOPAR (100). The figure shows the different components of the XeOPAR in accordance with one of the embodiment of the invention. The system, XeOPAR, comprises at least four different components, in which said components include Verification Engine (107), Foreign Exchange (Forex) Conversion Engine (108), a Payment Processor Engine (109) and User Database (110). The foreign country to which the user decides to travel from his home country ought to have XeOPAR (100) partnered with the overseas m Wallet (102). The user (103) needs to register himself to the XeOPAR (100) through a partner Domestic Bank/ mWallet (101) in the home country.
The verification engine (107) of the XeOPAR is configured to complete the international verification procedures associated with the visiting country. Such verification procedure may include but not limited to know your customer, KYC with the verification of details of an international document such as either passport, VISA or any other documents as per the guidelines provided by international travelling norms of the home country and the visited country. The information associated with the user is then validated in accordance with the regulatory compliances, as and where applicable.
When the verification procedure is completed, verification engine (107) of the XeOPAR is capable of generating a Login PIN for registering the user (103) to the overseas mWallei (102). Followed by this, the user (103) is required to generate a secured 3D Transaction PIN. The Digital Forex Conversion and Payment System, XeOPAR (100) comprises the Forex Conversion Engine (108) for conversion from domestic currency to foreign currency. When the user having the mobile wallet, mwallet registered with the XeOPAR (100) and the domestic bank in home country, purchases goods or services from a merchant (104) in the visiting country, the user's mobile device initiates payment request from overseas mwallei (102). It is the overseas mwallet (102) that forwards this request to XeOPAR (100). The Forex Conversion Engine (108) is capable of doing the conversion from domestic currency to foreign currency. The converted amount (which is now in domestic currency) is then reverted to the overseas mwallet (102). During the process of conversion, the forex conversion engine (108) is configured to include current forex conversion rate and the applicable conversion charges. Once the user (103) obtains the net amount payable

at the merchant inclusive of additional charges can decide to continue the transaction by proceeding to pay or may proceed to abort the transaction.
In the present invention, the Forex Conversion Engine (108) converts the amount the shares it with the user 5 each time. This advantageously renders the user with transparency on the forex rate every time the user makes a purchase. Had the user been using the existing systems, he would have been deprived of such transparency. In the current systems, the overseas travellers are locked in for the exchange rate in case of say carrying hard currency (wherein exchange rate is locked prior to his journey). In case of forex card or in case of credit card / debit card, exchange rate is unknown to user till the generation of statement. ) Therefore, the disclosed invention will enable the overseas users to know the current exchange rate and conversion charges applicable before carrying out any transaction and enable the visitor to make more informed decision. The concept of dual exchange rate systems is susceptible to manipulation by parties with the most to gain from currency differentials. In this advantageous embodiment, with the present invention, the visitor will not be a prey of the double currency conversation rates. Dual exchange rate systems are susceptible to manipulation by parties with the most to gain from currency differentials. The user will be saving more if he will be converting only the amount that needs to be paid.
When the user (103) decides to proceed towards payment, he/she makes the payment by using the secured 3B transaction PIN through overseas mwallet (102). The overseas mwallet is configured to forward this request to XeOPAR (100), in which the procedure is received and further handled by the Payment Processor Engine (109). The payment processor engine (109) is configured to send a request to Domestic Bank/m Wallet (101) for the converted amount in domestic country currency to make final payment to the merchant.
The advantageous technical benefit of the invention can be extended to real-time payment systems. Such systems offer an instant 24/7 fund transfer service that can be initiated through a smart mobile phone. These embodiments of the invention makes use of a low value real-time payment request initiation enabling the user payments to merchant and secure transaction posting with immediate notification features.
Reference is made to figure 3 that shows a flowchart depicting the registration method for a new user using a mobile device to register itself to the XeOPAR system (100) when the user is about to travel overseas.
When a Domestic Bank/Mobile Wallet User (103) intends to travel to the visiting country, for availing the advantages of XeOPAR (100), the user needs to get himself registered to at least a domestic partner Bank or a mWallet(IOl). Step 302 demonstrates this registration procedure. Further, the mobile wallet user (103) registers himself with XeOPAR (100). The registration with XeOPAR (100) needs to be completed with verification procedure. At step 303, the user completes the verification process for completion of the

registration process. The said verification process may include but limited to the procedure such as know your customer, KYC, requirements as per the international travelling norms to activate services of XeOPAR at 303.
> The system comprises provisions for the user to upload documents via a suitable interface for verification of the user. At step 304, the verification Engine (107) of XeOPAR (100) is configured to verify the uploaded documents by the user. The verification of documents includes verifying whether or not the documents comply with the requirements of the regulatory body of the domestic country (105) as well as the visiting country (106).
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In the event in case where verification is successful, the user is prompted to generate a secured 3D Login PIN and a Secured 3D Transaction PIN at step 305 to proceed further to using the system. The 3D Login PIN is used to complete the registration process once the user arrives at the visiting country and the Transaction PIN is used by the user to authorize each merchant payment. If the verification failed, the registration process gets aborted and the step 31 I will be executed. Further, lo the aborting of the process, the system notifies the user. The notification to the user is accompanied with appropriate notification failure message.
In the light of the prior art solution, usually international credit cards do not operate transactions with PIN, however the according to securing transaction through 3D pin security system of the disclosure, payment is made only after authorising a 3D secured PIN. This significantly reduces the chances of misuse or fraudulent transactions over normal modes of payment i.e. fiat currency, credit card or travellers' cheque.
At step 306, the user receives a prompt from XeOPAR (100) to enable download of the overseas digital wallet. The said overseas digital wallet may be but not limited to mobile wallet application. The prompt received may be a direct link from XeOPAR (100) to download the overseas wallet. Step 307. involves the user to download and install the wallet.
The registration process of the user is completed only when the user arrives at the second country. At step 308, the registration of the user with XeOPAR (100) is completed by way of an entity of telecommunication based on the second country. The user requires the visiting country's subscriber identifier for the mobile communication device, or a mobile SIM to complete the registration process with the overseas mWallet (102). At step 309, XeOPAR (100) prompts the user to provide a 3D secured login PIN to complete the registration process. The overseas mobile wallet (102) sends the Login PIN over a secured channel in an encrypted format to XeOPAR (100) for authentication. XeOPAR (100) is configured to forward user's login authentication details received from overseas wallet to the domestic bank/ mobile wallet for authentication. At step 310, the user is capable of making payment via overseas m Wallet (102) using XeOPAR (100).

Reference is now made to figure 4 that shows a flowchart depicting the payment method using a mobile communication device through XeOPAR (100) while the user is travelling overseas in accordance with an embodiment of the invention. For convenience the flow chart has been spread across figure 4 a, 4 b and 4 c and the figures have been linked using suitable connectors.
After the registration process of the user with XeOPAR (100) is completed and after the user arrives at the foreign country, he can purchase goods or services from a merchant (104) in the second country i.e. the foreign country. The merchant here need to be partnered with overseas in Wallet (102). At the step 401. the user is able purchase goods or services from the partnered merchant. At step 402, the user is capable of making payments of the merchant from his domestic bank account/ mWallet (101) in the local currency. For making the payment possible from the domestic bank/mobile wallet of user, firstly, at step 403, the user need to open the mobile wallet for facilitating the functioning of the wallet and from a means to select options in the wallet, the user is required to select XeOPAR option from overseas m Wallet (102) to pay the merchant.
At step 404, overseas mWallet (102) forwards the payment request to XeOPAR (100). At step 405. XeOPAR (100) does the required currency conversion for the payment requested. Additionally, the other charges and taxes levied by the visiting country are added to the net payment amount. XeOPAR (100) now responds back to the overseas mWallet (102) in an equivalent domestic mWallet (101). Further at step 406, overseas wallet displays the equivalent domestic currency with the currency conversion charges to the user.
Based on the converted amount displayed to the user, the user decides whether or not to proceed with the payment. This decision to whether or not proceed further is decided by the user at step 407. If the user decides to proceed with the payment process, step 408 will be performed.
At step 408, the user is prompted to confirm the payment of the converted payable amount in domestic currency. At this step for along with the confirmation the user is required to input the secured 3D Transaction PIN, to confirm the converted payable amount in the domestic currency. If the user does not wish to proceed with the payment, the payment process gets aborted at 415.
Further, before completing the payment at step 410, XeOPAR (100) is configured to check the applicable transaction limits as per the regulatory of the home country (101). If the transaction amount does not comply with the regulatory specified limit, the payment process is aborted at step 415 and a notification indicating this is sent to the user in overseas country mWallet (102). At step 410. XeOPAR (100) is configured to send the debit request for the equivalent amount in domestic currency to home country bank/' mWallet, if the transaction amount is within the regulatory specified limits.

At step 41 1, the Domestic mWallet is configured to determine whether the available balance in domestic mwallet is sufficient to facilitate the payment. If the balance is insufficient to make the payment, the domestic mwallet sends a message to XeOPAR informing the insufficiency of balance. In response to this, at step 415, XeOPAR (100) aborts the payment request, notifying the user in the overseas mWallet about the insufficiency of available balance in the wallet.
Otherwise, if sufficient balance is available the payment step 412 is performed. At step 412, domestic-bank/ mWallet is configured to authorize the payment and debits the net amount (in home country currency) from the account of the user in home country and confirms the successful debit transaction. Now, at step 413, XeOPAR (100) confirms to overseas mWallet (102) to make the payment to the merchant in the currency of the foreign country. It is at step 414, that the merchant finally receives the payment and in return of the goods/services to the user.
Thus, in this embodiment the user who is the traveller here is advantageously provided with his domestic country bank/ mobile wallet as invoice on payments for goods and/or services for each transaction, as the traveller is pre-infonned about forex rate and conversion charge. On the other hand in the conventional credit card statements, only service charges with disfiguration of conversion charges are available. Service charge usually creates ambiguity in mind of travellers of whether or not the charges are inclusive or exclusive. While loading of foreign mobile wallets with international card during travel, the traveller shall have to bear exchange risk for retained currency in foreign mobile wallet till it is withdrawn/ spent/ return.
Reference is made to figure 5 showing the schematic flow diagram depicting flow of transactions occurring among the different entities involved. Figure 5 basically shows an exemplary embodiment of the method disclosed in the present invention.In figure 5, the home country say Country-A, (India in this example is the home country) has a local mobile payment wallet. Wallet-A in local currency (i.e. INR) and the visiting Country say Country-B (UAE in this example is the visiting country) has a local mobile wallet Wallet-B in AED. The Digital Forex Conversion and Payment System. XeOPAR (100) as per the present invention is associated with Wallet-A in India and Waliet-B in UAE. Wallet-B is linked with various local merchants and service providers in UAE.
In the disclosed embodiment at step 501, the user of Wallet-A travels from Country-A (India) to Country-B (UAE) and intends to buy goods/services at merchant's location. The user is now required to pay AED 400 to the merchant. At step 502, the user decides to pay the merchant via Wallet-B in currency of UAE i.e AED. For the purpose, at step 503, the user opens Wallet-B in which wallet-B is a mobile application and scans a payment code such as a QR Code of the merchant and enters the amount 400 AED to the to be paid to the merchant. Wallet-B now forwards the payment request to XeOPAR.

At step 505, XeOPAR converts the amount in domestic currency i.e. INR. As would be obvious the conversion of the currency is based at the current prevailing currency conversion rate e.g. 1 AED is equivalent to INR 20. Accordingly, Wallet-B thus displays Forex Conversion Rate, amount INR 8.000(400 X 20) and the applicable service charges (e.g. @2%) i.e. INR 160. At step 506, Wallet-B provides the final amount to the traveller in Wallet-B of country-2. At step 507. to proceed with the payment, the user shall be required to enter a 3D Secured Transaction PIN to confirm the payment. At step 508, Wallet-B in turn forwards the data over a secured channel to XeOPAR (100). At step 509. XeOPAR performs money exchanger activities as per the regulatory requirement and defined forex limits.
After checking the limits, XeOPAR forwards this request to Wallet-A over the secured channel along with the amount i.e INR 8,160 to debit the traveller's accounts at 510. Wallet-A authorizes the request based on balance availability and debits the user account with INR 8,160. At step 512, XeOPAR confirms to overseas m Wallet (102) to make the payment to the merchant in his currency. Then, at step 513. Wallet-B confirms the payment in AED 400 to the merchant to complete the transaction. At step 514, the payment cycle gets completed and the user will receive the intended goods/services.
The present invention also relates a system for making digital cross border payment by a user mobile phone/ device (103) to a merchant of the visiting country in their currency. The said system comprises a scanner for scanning a commodity of merchandise such as QR code scanner to scan the code on the goods, an Overseas mWallet, a domestic Bank/mWallet and a Digital Forex Conversion and Payment System XeOPAR which comprises Verification Engine, Forex Conversion Engine and Payment Processor Engine.
This further contributes in rendering freedom for the user to imbibe a peace of mind. When foreign mobile wallet has been loaded by credit cards, traveller has to act upon according to instruction of foreign mobile wallets while withdrawing money back. Quite opposed to this, in the embodiment of the present invention. the traveller is basically dealing with his own trusted bank back in this home country. This provides a sense of security and confidence to the user visiting a foreign country. Payment to overseas merchants has been made wherever required by the foreign mobile wallet through the disclosed application interface on a transaction basis. Therefore there is no requirement to maintain balance with foreign mobile wallet while the user is in overseas destination. This further renders the visitor with the discretion of depositing his domestic Bank account/ mobile wallet in case of situations like meeting with any emergency situation, out of the planned expenses or like extended stays.
The above disclosed embodiments of the present invention will help the merchants in enabling better cash management and assist them better manage day-to-day operations by improving liquidity. The liquidity improvement can be especially impactful to small merchants who may be used to waiting days for their settlement. Yet another benefit of this is to drive foreign traveller acquisition intending to pay for goods/ services using digital payment system, thereby paving path to cashless economy, which is all the more

important in events of pandemic such as COVID-19. The present invention provides to load money in home country bank account/ mobile wallet with home currency and transact through partner mobile wallet in foreign country in the respective currency. It also maintains transaction records and keep overall track of amount spent during the visit and providing updated balance in the home country bank account/ mobile wallet.
Besides, the proposed solution is in line with the Government's initiatives and road map towards the digital payments system and leadership on the global stage. The growing ubiquity of smart phones and digital payments to micro and small merchants while the user is on international travel could help the Government with increased accountability and enhanced fraud prevention.
Some of the non-limiting advantages of the present invention are provided in the following:
• It provides increased transparency of monetary transactions for the user.
• It provides enhanced security, especially with 3D PIN security system.
• The present invention facilitates real-time payments.
• As opposed to the conventional methods which involve a number of junctures incurring charges, the present invention provides scope of cutting down cost and renders savings to the user.
• The present invention renders freedom to deal with foreign mobile wallets with peace of mind as there are no requirements of prefunding or any provisions for claiming balance refundable if any.
• As per the present invention, there is an on-the-go availability of fund.
• With the present invention, merchants experience improved Liquidity and foreign traveller acquisition, thereby blooming the business prospects.
• The present invention involves an approach towards Government's digital payment Initiative-connivance to use Indian wallet at overseas destination.
• The present invention renders increased accountability and enhanced fraud prevention.
It is apparent to one skilled in the art that the present invention is a combination of software and hardware. While the present disclosure includes many embodiments shown and described in detail, various modifications and improvements thereon will become readily apparent to those skilled in the art. Accordingly, the essence and scope of the invention disclosed herein is not to be limited by the foregoing examples, but is to be understood in the broadest sense allowable by law.
Accordingly, every portion (e.g., title, field, background, summary, description, abstract, drawing figure, etc.) of this application, other than the claims themselves, is to be regarded as illustrative in nature, and not as restrictive, and the scope of subject matter protected by any patent that issues based on this application is defined only by the claims of that patent.

WE CLAIM
1. A system for interlinking at least two e-wallets of two different countries for facilitating merchant
payments via e-wallet of a second country from a registered bank account in a first country, while being in a second country, wherein the system comprises:
a Verification Engine (107), configured to complete a procedure of verifying a user based on a set of multiple guidelines and rules, thereby enabling an authorized authentic user to use e-wallei of the first country while being in the second country;
a Foreign exchange, Forex Conversion Engine (108), configured to convert the currency of the first country to the currency of the second country based on a latest foreign exchange rate for facilitating a transaction in the second country from the registered bank of e-wallet of the first country; and
a Payment Processor Engine (109) configured to send a request to the registered bank of the first country for transaction involving the converted currency of the second country.
2. The system as claimed in claim 1, comprising a User Database (110) having data of the user accessed by one or more terminals or one or more servers of the system.
3. The system as claimed in claim 1, wherein the system is operably linked with the registered bank of the first country, e-wallet of the first country, and e-wallet of the second country: and
the first country is the home country of the user and the second country is the country where the user is visiting.
4. The system as claimed in claim 2, wherein the entire data is shared with both regulatory body of the first country and the regulatory body of the second country to increase transparency.
5. The system as claimed in claim I, wherein the Verification Engine (107) is configured to generate a login personal identification number (PIN) for registering the user (103) to the e-wallet of (102) of the second country.
6. The system as claimed in claim 5, wherein the user (103) generates a secured 3D Transaction PIN.
7. The system as claimed in claim 5, wherein the Verification Engine (107) is configured to verify the verification documents uploaded by the user in the system via an interface, wherein the verification o\' the user is based on the regulatory requirements of the first country (105) and the second country (106).
8. The system as claimed in claim 5, wherein Verification Engine (107) is configured to prompt the user to generate a secured 3D Login PIN and a Secured 3D Transaction PIN, if the verification process succeeds.

9. The system as claimed in claim 8, wherein the secured 3D Login PIN is required for completing the registration process, when the user is in the second country and the Secured 3D Transaction PIN is used by the user to authorize each merchant payment.
10. The system as claimed in claim I, wherein the system for making digital cross border payment by a user mobile phone/ device (103) further comprises a code scanner to scan the code on one or more commodity of merchandise.
11. A registration method for a new user using a mobile communication device, to register itself to a digital forex conversion and payment system (100) when the user is travelling from a first country to a second country, wherein the first country is the home country and the second country is the foreign country, and wherein the method comprises:
selecting (302), by the user, the system (100) as an option in an e-wallet of the first country in the mobile communication device;
registering (303) with the chosen system (100) to complete a verification procedure of the user. wherein the verification procedure is based on the regulations of both the first country and the second country;
uploading by the user one or more documents for enabling the verification procedure (304) of the user;
aborting (311), by the system (100), if the verification procedure (303) fails; and
generating (305), by the user, a secured 3D login personal identification number (PIN) and secured 3D transaction PIN, if the verification procedure (303) succeeds.
1 1. The method as claimed in claim 10, comprising receiving (306) a prompt from the system (100) to
download a digit wallet (102) of the second country.
12. The method as claimed in claim 10, comprising downloading and installing (307) the digit wallet (102) of the second country.
13. The method as claimed in claim 1 I, wherein the registration process is completed with the digit wallet of the second country, once the user is in the second country, by using a subscriber identifier of the mobile communication device for the second country and the method further comprises providing (309), by the user, the 3D Secured Login PIN to complete the registration process.
14. The method as claimed in claim I 1. wherein the subscriber identifier of the UE for the second country is a mobile subscriber identity module (SIM) for the second county.

15. The method as claimed in claim I I, comprising sending, by the digit wallet (102) of the second country, the Login PIN over a secured channel in an encrypted format to system (100) for authentication.
16. The method as claimed in claim II, comprising forwarding, by the system (100). the login parameters of the user, from the digit wallet (102) of the second country to the digital wallet of the first country for authentication.
17. The method as claimed in claim 10, wherein once authenticated, the user is capable of making payment for purchase of goods or services in the second country via the digit wallet (102) of the second country using system (100).
18. A method for making payments for purchase of goods or services by a user in a second country using a mobile communication device through a digital forex conversion and payment system (100) from a registered bank account in a first country, wherein the first country is the home country and the second country is the foreign country, and wherein the method comprises:
selecting (403), by the user, the system (100) as an option in a digital wallet of the second country in the mobile communication device to make payment from a registered bank account in the first country;
forwarding (404). by the digital wallet of the second country the payment request to system (100);
calculating (405), by the system (100), the net payable amount based on the foreign exchange rate and the additional charges and further reverting, by the system, to the digital wallet of the second country, the net calculated amount;
displaying (406), by digital wallet of the second country, the net calculated amount in the equivalent currency of the first county with the currency conversion charges to the user; and
proceeding to make the payment (408), via the system (100). using a secure 3D transaction personal identification number (PIN).
19. The method as claimed in claim 18 further comprising checking (409), if the displayed payment amount is in accordance with the transaction limits as per the regulatory of the first country.
20. The method as claimed in claim 19, comprising sending (410) a debit request for net calculated amount in the equivalent currency of the first county from registered account in the first country.
21. The method as claimed in claim 20, comprising checking (411) for sufficiency of balance in the registered account in the first country, before debiting the net calculated amount.
22. The method as claimed in claim 21, comprising if there is sufficient balance in the registered account in the first country, authorizing (412), by the registered account in the first country, the payment and debiting the payment from registered account in the first country.

23. The method as claimed in claim 22, comprising confirming (413) to the digital wallet of the second country to make the payment for purchased good or service.
24. The method as claimed in any one of the preceding claims, wherein the method is aboned (415), if the user does not confirm the displayed payment amount or if the displayed payment amount is not in accordance with the transaction limits as per the regulatory of the first country or if there is an insufficiency of balance in the registered account in the first country.
25. The method as claimed in claim 24, comprising notifying, by the system (100), to the user with a message a reason for aborting the method.