Patent ID: 8489478

Claim:
A system of processing stored value card transactions over a network, the system comprising: a merchant processor configured to: use as a virtual terminal such that a dedicated physical merchant terminal is unnecessary, wherein the virtual terminal configured to display a plurality of stored value card transaction options, which including at least one of the set consisting of stored value card activation, stored value card deactivation, personal identification number (PIN) generation, and account value insertion; and transmit a transaction request in response to selection of one of the stored value card transaction options by a user of the virtual terminal; a central processor configured to: receive over the network the transaction request from the merchant processor, wherein the transaction request having been initiated by a merchant selection from the plurality of stored value card transaction request options; determine which of the transaction request options was selected; determine that sufficient information to carry out the transaction request was provided; determine, based on information of the transaction request, whether the transaction request meets at least one authorization criteria by determining whether the merchant processor is authorized to request one of the stored value card transaction options; responsive to a determination that the transaction request does not meet the authorization criteria, transmit an error message to the merchant processor; and responsive to a determination that the transaction request meets the authorization criteria, transmit a confirmation message to the merchant processor and initiating the requested transaction.