Patent ID: 8005756

Claim:
A method for processing a stored value card over a computer network comprising: receiving notification that a recipient has received a stored value card, wherein: (1) before the card is provided to the recipient, the card is marked with the recipient's name, (2) the stored value card is capable of being used for payment wherever cards associated a predetermined transaction network are capable of being used, (3) an independent and separate account is associated with the stored value card, and (4) the stored value card is funded with an initial value that is loaded into the independent and separate account by transferring funds associated with the initial value into the independent and separate account and storing the funds in the independent and separate account, wherein the recipient is an individual; prompting the recipient to provide predetermined card information and verification information over the computer network to activate the stored value card; verifying the predetermined card information and verification information using at least one computer processor and generating verification results; and notifying a purchaser of the stored value card of the verification results, wherein the purchaser is different than the recipient.