Method and system for reloading prepaid card
System and methods for managing value products such as stored value cards are provided. A computer-implemented system comprising: a first value product, wherein a first value product package identifier requires that all of the first value product's digital funds be redeemed in a single transaction; a second value product; and a specially programmed computer server, the methods and system allowing a user to use a portion of the first value product's digital funds in a first transaction and a remainder of the first value product's digital funds in one or more subsequent transactions.
1. A computer-implemented method for the secure management of digital funds and a plurality of general purpose reloadable cards performed by computer system comprising a processor and a non-transitory computer readable memory storing executable instructions, the processor executing the executable instructions to cause the computer system to perform the method comprising:
establishing, by the computer system, a user account in a database, for a user, wherein the user account is enabled by source code for the secure storage of value;
providing a physical reload card;
associating, by the computer system, the user account with a unique user account identifier;
providing, by the computer system, the user with an ability to associate a value product and the plurality of general purpose reloadable cards with the user account, wherein the value product is the physical reload card associated with digital funds, and wherein the value product cannot, by itself, transact a general purpose reloadable card transaction;
providing, by the computer system, the user with an ability to use a first portion of the value product's digital funds in a plurality of transactions, wherein the plurality of transactions comprise at least one general purpose reloadable card transaction utilizing funds transferred from the value product, and wherein the method improves the overall functioning of the computer system components by reducing data storage necessary required for the computer system; and
providing, by the computer system, the user with an ability to use the value product's digital funds and a portion of one or more additional value product's digital funds in a single transaction.
2. The method of claim 1 , wherein associating the value product with the user account comprises receiving, from a point of sale device, a digital funds request, wherein the digital funds request comprises the unique user account identifier and a digital funds amount, and wherein receipt of request directs the computer implemented sever to create a virtual value product comprising the requested digital funds amount.
3. The method of claim 2 , wherein the computer system associates the virtual value product with the user account.
4. The method of claim 1 , wherein associating the value product with the user account comprises receiving a value product unique identifier, wherein receipt of the value product unique identifier directs the computer implemented sever to associate the value product identified by the value product unique identifier with the user account.
5. The method of claim 1 , wherein the unique user account identifier is present in a barcode, matrix code, magnetic strip, microchip, RFID tag, near field communication component, biometric component, or a combination thereof.
6. The method of claim 2 , wherein the unique user account identifier is present in a barcode, matrix code, magnetic strip, microchip, RFID tag, near field communication component, biometric component, or a combination thereof.
7. The method of claim 1 further comprising providing, by the computer system, the user with an ability to use a second portion of the one or more additional value product's digital funds in the plurality of transactions.
8. The method of claim 1 , wherein the plurality of transactions comprise a combination of at least two of the following: (i) adding value to a first designated value product; (ii) adding value to a second designated value product; and (iii) paying a bill.
9. The method of claim 7 , wherein the plurality of transactions comprise a combination of at least two of the following: (i) adding value to a first designated value product; (ii) adding value to a second designated value product; and (iii) paying a bill.
10. The method of claim 1 , wherein the single transaction consists essentially of adding value to a first designated value product or paying a bill.
11. The method of claim 1 further comprising providing, by the computer system, the user with the ability to schedule one or more specific transactions.
12. The method of claim 11 wherein the one or more specific transactions comprise adding value to a designated value product, paying a bill, or combinations thereof.
13. The method of claim 1 further comprising providing, by the computer system, a third party with the ability to add a value product to the user account.