Patent ID: 7499872

Claim:
A method comprising: a) providing: i) debit and credit card accounts, ii) at least one higher education account, iii) at least one registered merchant offering rebates ranging from 0.01% to 30%, and iv) a rebate network manager connected to processors that track debit and credit card purchases to provide debit and credit card transaction information, wherein said at least one registered merchant is registered with said rebate network manager and said debit and credit card accounts are registered with said rebate network manager, b) via said rebate network manager, monitoring all of said debit and credit card transaction information from said processors and associated with said at least one registered merchant and determining if said transactions are consummated using said debit and credit card accounts registered with said rebate network manager, c) calculating a rebate on each purchase made from said at least one registered merchant using said registered debit and credit card accounts, wherein said calculating step is performed by said rebate network manager utilizing a computer processor configured to calculate said rebate based on an existing formula wherein said rebate ranges from 0.01% to 30% for each transaction, wherein said rebate network manager then debits the account of the merchant, and wherein said computer processor is located at a location other than the location of the merchant; and d) via a computer network, crediting said at least one higher education account with said rebate, wherein said rebate is provided by said at least one registered merchant.