System and method for converting a stored value card to a credit card

A method for facilitating the re-association of a card number from a first transaction account to a second transaction account, comprising the steps of:

• providing said second transaction account;
• receiving said card number associated with said first transaction account;
• associating said card number with said second transaction account;
• wherein said card number corresponds to a proxy account number, and said proxy account number within a proxy system is configured to associate said proxy account number to one or more transaction accounts;
• wherein said card number comprises unchangeable indicia permanently associating said card number with a proxy account;
• facilitating, during a customer-merchant transaction, a merchant authorization process after said conversion, wherein said authorization process comprises the steps of:
• providing an authorization system;
• recognizing said indicia of said card number as the indicia of a proxy account;
• forwarding to a proxy account system;
• identifying said second transaction account associated with said card number;
• determining if said second transaction account is authorized for a transaction;
• and
• returning authorization result to said merchant;
• facilitating a merchant settlement process after said conversion, wherein said settlement process comprises the steps of:
• receiving a settlement request from said merchant;
• recognizing said indicia of said card number is the indicia of said proxy account;
• forwarding to said proxy account system;
• recognizing said proxy account as associated with said second transaction account;
• charging amount of transaction against said second transaction account;
• and
• adjusting said second transaction account balance by amount of said transaction.

A method of re-associating an existing stored value account number, that is associated with a stored value account, to a new account, comprising the steps of:

• providing a conversion interface;
• receiving a conversion request from a customer;
• presenting to said customer an account application form, wherein said customer is prompted to provide said existing stored value account number;
• communicating a completed account application to a new accounts system;
• determining if said customer qualifies for a new account;
• issuing said new account to said customer;
• and
• associating said new account with said existing stored value account number, wherein said existing stored value account number is authorized for multiple purchases, and wherein said associating step further comprises the steps of:
• forwarding said existing stored value account number to a proxy account system;
• and
• using said proxy account system to recognize said existing stored value account number account as associated with said new account.

A system for converting a first transaction account to a second transaction account comprising:

• a user interface system configured to communicate with said user to accept a request from said user to convert a card number associated with said first transaction account to a card number associated with a second transaction account;
• a new accounts system configured to generate a second transaction account;
• a modifiable computer data structure configured to associate a card number with a plurality of transaction account types;
• and
• a proxy account system configured to facilitate the re-association of said card number from said first transaction account to said second transaction account.

A method for facilitating the re-association of a transaction instrument number from a first transaction account to a second transaction account, comprising the steps of:

• issuing a transaction instrument, wherein said transaction instrument is associated with a first number, wherein said first number is a proxy account number, and wherein said proxy account number is associated with the first transaction account;
• providing the second transaction account;
• receiving said proxy account number associated with the first transaction account;
• disassociating said proxy account number from the first transaction account;
• and
• associating said proxy account number with the second transaction account.

A method for issuing transaction accounts comprising the steps of:

• issuing a first transaction account number, wherein said first transaction account number is associated with a proxy number;
• providing a second transaction account;
• receiving said first transaction account number associated with said first transaction account, wherein said first transaction account number is usable in successive transactions;
• using said proxy number to associate, during authorization and settlement phases, said first transaction account number with said second transaction account number.

A method for issuing a credit card transaction account comprising the steps of:

• issuing a stored value transaction card, wherein said stored value transaction card is a physical object having a first transaction account number associated therewith, wherein said first transaction account number is associated with a proxy number, and wherein said proxy number is associated with a stored value transaction account;
• providing a credit card transaction account having a second transaction account number different from said first transaction account number;
• changing said proxy number association from said stored value transaction account to said credit card transaction account;
• receiving said first transaction account number;
• and
• using said proxy number to associate said first transaction account number with said second transaction account number.