Smart card electronic wallet system

A method, comprising:

• receiving, by a payment device from a recipient device, a request to consummate an offline transaction for a monetary amount;
• determining, by the payment device, that a value stored in a reserve purse is adequate to cover the monetary amount and a reconciliation charge amount, wherein the reconciliation charge amount is equal to a reconciliation charge value imposed by a financial institution to cover the offline transaction;
• transmitting, by the payment device to the recipient device, the monetary amount and subtracting the monetary amount from the value in the reserve purse;
• and
• transferring, by the payment device, the reconciliation charge amount from the reserve purse to a reconciliation purse.

A non-transitory computer-readable medium storing instructions configured to instruct a processor to:

• receive a value for use in conducting offline transactions from an issuer bank computer;
• store the value in a reserve purse of an electronic wallet;
• receive a second value from a second payment device;
• store the second value in a received purse of the electronic wallet;
• and
• transmit at least a portion of the value stored in the reserve purse to one of a merchant device to consummate a purchase transaction or to a consumer payment device to consummate a payment transaction.

A non-transitory computer-readable medium comprising instructions configured to cause a processor to:

• receive a request to consummate an offline transaction for a monetary amount from a recipient device;
• determine that the value stored in a reserve purse is adequate to cover the monetary amount and a reconciliation charge amount, wherein the reconciliation charge amount is equal to a reconciliation charge value imposed by a financial institution to cover the offline transaction;
• transmit the monetary amount to the recipient device and subtract the monetary amount from the value in the reserve purse;
• and
• transfer the reconciliation charge amount from the reserve purse to a reconciliation purse.

An apparatus comprising:

• a processor;
• a non-transitory computer readable medium operably connected to the processor, the non-transitory computer readable medium comprising a reserve purse and a received purse and storing instructions configured to instruct the processor to:
• receive, from an issuer bank computer, a value for use in conducting offline transactions;
• store the value in the reserve purse of the storage device;
• receive, from a second payment device, a second value;
• store the second value in a received purse of the storage device;
• and
• transmit at least a portion of the value stored in the reserve purse to one of a merchant device to consummate a purchase transaction or to a consumer payment device to consummate a payment transaction.