Patent ID: 7818253

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 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; providing notice to the recipient to activate the stored value card using the computer network; prompting the recipient to provide predetermined card information, verification information and additional data over the computer network; processing the predetermined card information, verification information and additional data using at least one computer processor and generating processing results; notifying a purchaser of the stored value card of the processing results wherein the purchaser is different than the recipient; and processing a load request, subsequent to the funding of the initial value, for the independent and separate account upon receiving the load request from the purchaser or the recipient.