System and method for processing group gift cards using a temporary, limited scope social networking entity

A system comprising:

• a processor;
• and
• a non-transitory computer readable storage medium storing instructions that, when executed by the processor, cause the processor to perform operations comprising:
• sending, at a first time, a plurality of respective invitations to a plurality of givers each having a respective giver user device to contribute to a group gift, wherein:
• the group gift is associated with a policy, a person, and a payment account of the person, the payment account existing prior to the first time and wherein the policy is at least in part defined by the person;
• and
• each giver of the plurality of givers has an associated giver payment account that existed prior to the first time and is independent of other giver payment accounts and the payment account and wherein no account of the associated giver payment account and the payment account has control over each other;
• monitoring, in a continuous manner after the policy is established, purchases by the person using the payment account;
• and
• when the group gift is purchased for a gift amount using the payment account according to the policy and at a second time, which is later than the first time, transferring in an automated manner at least a portion of the gift amount from each associated giver payment account to the payment account.

A non-transitory computer-readable storage medium storing instructions which, when executed by a computing device, cause the computing device to perform steps comprising:

• sending, at a first time, a plurality of respective invitations to a plurality of givers each having a respective giver user device to contribute to a group gift, wherein:
• the group gift is associated with a policy, a person, and a payment account of the person, the payment account existing prior to the first time and wherein the policy is at least in part defined by the person;
• and
• each giver of the plurality of givers has an associated giver payment account that existed prior to the first time and is independent of other giver payment accounts and the payment account and wherein no account of the associated giver payment account and the payment account has control over each other;
• and
• monitoring, in a continuous manner after the policy is established, purchases by the person using the payment account;
• and
• when the group gift is purchased for a gift amount using the payment account according to the policy and at a second time, which is later than the first time, transferring in an automated manner at least a portion of the gift amount from each associated giver payment account to the payment account.