Combination payment card and methods thereof

A non-transitory computer readable medium having instructions stored thereon which when executed by a processor cause the processor to:

• receive transaction information for a transaction originating from a point-of-sale device, wherein the transaction information comprises an account number and a merchant identifier;
• determine whether the account number is linked to both an open-loop account and a closed-loop account, wherein the open-loop account is affiliated with a sponsoring network and the closed-loop account is affiliated with a closed-loop merchant;
• when the account number is linked to both (i) the open-loop account and the closed-loop account and (ii) the point-of-sale device is affiliated with the closed-loop merchant, determine whether the closed-loop account has sufficient funds to complete the transaction;
• and
• when either the account number is not linked to both (i) the open-loop account and the closed-loop account or (ii) the point-of-sale device is not affiliated with the closed-loop merchant, communicate with the sponsoring network to determine whether the open-loop account has sufficient funds.

A payment processing system, comprising:

• a combination payment card readable by each of a plurality of point-of-sale devices, the combination payment card having an account number is linked to both an open-loop account and a closed-loop account, wherein the open-loop account is affiliated with a sponsoring network and the closed-loop account is affiliated with a closed-loop merchant;
• an acquirer processor configured to:
• receive transaction information for a transaction originating from one of the plurality point-of-sale devices, wherein the transaction information comprises the account number and a merchant identifier;
• based on the account number, determine whether the transaction was originated using the combination payment card;
• when the transaction was originated using the combination payment card and the transaction originated at a merchant associated with the closed-loop account, determine whether the closed-loop account has sufficient funds to complete the transaction;
• and
• when either (i) the transaction was originated using the combination payment card or (ii) the transaction did not originate at a merchant associated with the closed-loop account, communicate with the sponsoring network to determine whether the open-loop account has sufficient funds.