Patent ID: 8191775

Claim:
A method of a merchant processing a gift card, the method comprising: receiving payment from a purchaser purchasing a gift card from the merchant; associating an account number and a key number with the purchased gift card when payment is received from the purchaser; storing in a gift card account the account number and the key number associated with the purchased gift card; presenting the gift card and the key number to the purchaser of the gift card; receiving the gift card and the key number from a gift card recipient when the gift card recipient presents the gift card to the merchant; receiving payment instrument information from the gift card recipient when the gift card recipient presents the gift card to the merchant; applying a hashing algorithm to the payment instrument information received from the gift card recipient to provide a hashed value; and accessing the gift card account based upon the key number received from the gift card recipient to store the hashed value at a location associated with the key number and the account number of the gift card received from the gift card recipient so as to allow the gift card recipient to apply the gift card towards a future purchase of goods or services from the merchant without having to present the gift card again to the merchant.