SYSTEMS AND METHODS FOR FACILITATING TRANSACTIONS IN OPEN LOOP AND CLOSED LOOP NETWORKS

摘要

Systems and methods for facilitating e-commerce transactions by providing systems and methods for executing transactions in both an open loop and closed loop networks.

主权项

1. A system for facilitating e-commerce transactions, comprising:
a) an application module configured to receive user data and an electronic signature on relevant tax forms, the receipt of user data facilitating the issuance of at least one member financial account to a user, wherein the member financial account is accessible for the transfer of funds to a plurality of members within a closed loop network of members and linked to a user debit card, wherein the debit card is enabled for use in an open loop network; b) a transaction processing module configured to receive transaction instructions relating to the transfer of funds from a member financial account to one or more different member financial accounts of members of the plurality of members; and c) a reporting module for providing notification of transactions to members, wherein the transaction information is stored in memory.