Methods and systems for processing, accounting, and administration of stored value cards

摘要

Methods are described for accounting, administration and processing of transactions utilizing a stored value card utilizing an EFT service gateway and providing balances for the cards across a plurality of point of sale devices. One method includes receiving an ISO 8583 formatted message generated by the point of sale system of a merchant and parsing the message into data elements. The method also includes validating a merchant ID exists within the merchant database assigned to the issued card, routing the message through a switch controller to an account holder database based on an institution ID and a branch ID, accessing an account within the database utilizing the account key, and determining if an account holder's monetary balance in the account is greater than or equal to the transaction amount. An ISO-8583 compatible message is formatted and one of an authorization approval or a denial based upon the determination is transmitted.