Patent ID: 7801816
Filing Date: 2010-09-21
Classification: G06Q,G07F

Abstract:
1. A method for redeeming value from a stored value instrument, comprising the steps of: a) loading value onto the stored value instrument or onto an account associated with the stored value instrument based upon a user-provided stored value currency, a load value, and a funding source, wherein the load value is obtained from the funding source and the load value is in the stored value currency; b) using a computer processor to determine whether a stored value currency is the same as a transaction value currency, wherein the value loaded onto the stored value instrument was designated by an owner or a user of the stored value instrument; c) using a computer processor to convert the stored value currency to the transaction value currency if the currencies are different; d) determining whether the stored value is sufficient to complete a transaction; e) providing value to a redeemer; and f) reconciling with the stored value instrument, wherein reconciling comprises transferring value from the stored value instrument to an individual or account associated with the transaction.