Patent ID: 7647246

Claim:
A method of executing a bilateral action between a first party and a person, the method comprising: receiving at a first host system associated with the first party, a communication from a communications device local to the first party, wherein the communications device is one of a plurality of communications devices that define nodes of a first network providing information pathways between the nodes of the first network and the first host system; determining at the first host system that the communication identifies a student identification instrument issued to the person to identify the person and to identify an account of stored value for use by the person in supporting execution of bilateral actions between the person and a second party associated with nodes of a closed second network, wherein the closed second network providing information pathways between the nodes of the closed second network and a second host system, the second host system is distinct from the first host system, the second network is distinct from the first network, the student identification instrument is issued on behalf of the second party, the first host system and the second host system have equal status within their respective networks; the first host system and the first network are comprised by a first interaction arrangement that administers stored value accounts, the second host system and the second network are comprised by a second interaction arrangement that administers stored value accounts; and transmitting a request from the first host system to the second host system to debit the account of stored value by an amount identified in the communication, the amount supporting the bilateral action; receiving a confirmation at the first host system from the second host system that the account of stored value has been debited; and transmitting an approval for the bilateral action from the first host system to the communications device.