System and method for converting closed loop cards into gift codes

摘要

Disclosed herein are systems, methods, and computer-readable storage media for generating a gift code. The system receives an indication from a first user identifying a closed loop card, receives a confirmation of an amount of money in an account associated with the closed loop card, offers to purchase the closed loop card at an amount less than the amount of money in the account associated with the closed loop card, and upon acceptance of the offer, deactivates the closed loop card. The system then offers to sell the amount of money at a discount rate to a second user, receives acceptance of the offer to sell the amount of money at the discount rate, and associates a gift code with the amount of money for use by the second user. Gift codes can have no expiration date. A multi-process secure gateway can confirm the amount of money.

主权项

1. A method comprising:
receiving an indication from a first consumer identifying a closed loop card, wherein the first consumer is not a company; receiving a confirmation of an amount of money in an account associated with the closed loop card; presenting a first offer to purchase the closed loop card at an offer amount less than the amount of money; upon acceptance of the first offer, deactivating the closed loop card; presenting a second offer to sell the amount of money at a discount rate to a second consumer, wherein the first consumer differs from the second consumer, and wherein the second consumer is not a company; receiving acceptance of the second offer; and associating, via a processor, an electronic gift code with the amount of money for use by the second consumer, wherein the electronic gift code is redeemable at a merchant point of sale and does not represent a physical gift instrument.