Patent ID: 8267312

Claim:
A method for imposing restrictions on virtual cash transmitted from a first wireless device to a second wireless device, comprising: establishing a first account record at a processing center which is associated with the first wireless device, the first account record comprising: a first amount of virtual cash; and a first security code, wherein the first security code comprises a first fixed code portion to verify a first deposit of money corresponding to the first amount of virtual cash; establishing at the processing center a second account record which is associated with the second wireless device, the second account record comprising: a second amount of virtual cash; and a second security code, wherein the second security code comprises a second fixed code portion to verify a second deposit of money corresponding to the second amount of virtual cash; transferring a third amount of virtual cash from the first account record to the second account record; and receiving a restriction associated with the third amount of virtual cash comprising an identification of one more merchants in which the third amount of virtual cash may be spent.