Patent ID: 7445147

Claim:
A method of conducting a transaction using a stored value card associated with an adjustable monetary value, the method comprising: determining magnetic stripe data from the stored value card; using the magnetic stripe data to identify that the stored value card is a stored value card as opposed to a non-stored value card; in response to identifying that the stored value card is a stored value card, prompting a user at a point of sale register to input bar code data from the stored value card; determining bar code data from the stored value card; comparing at the point of sale register the determined bar code and magnetic stripe data to determine whether to proceed with the transaction; if the comparison results in a match, determining account data from at least one of the bar code and magnetic stripe data; sending the account data to a networked computer in communication with the point of sale register; receiving a transact signal at the point of sale register in response to the account data being determined correct; receiving a payment at the point of sale register; and generating and sending a confirmation of payment to the networked computer subsequent to receiving the transact signal and receiving the payment such that the monetary value associated with the stored value card is adjusted only after the payment and the transact signal are received.