Patent ID: 8630898

Claim:
A computer implemented method for creating a stored value account based on a purchase transaction, the computer implemented method comprising: distributing an indicia of a rebate account identifier to a merchant that is distributed to a customer at a point of sale in conjunction with a purchase of at least one product or service; receiving, by a computer processor, a confirmation from the merchant of the purchase of the at least one product or service associated with the indicia wherein the at least one product or service is purchased with the indicia; receiving, from the customer, a request, following the customer obtaining the indicia in conjunction with the purchase, comprising the rebate account identifier, to activate a stored value account associated with the rebate account identifier; and activating the stored value account, by a computer processor, the stored value account comprising information about a rebate value based upon the purchase of the at least one product or service and the rebate value is a separate value from a value of the purchase; loading the stored value account with funds, comprising the rebate value, for conducting transactions over a transaction network; providing the customer access to the funds; and receiving status updates from the merchant relating to subsequent actions by the customer regarding the at least one product or service, the subsequent actions comprising requesting an exchange or refund of the at least one product or service.