In one embodiment, an architecture that consummates an electronic transaction between a first electronic device, such as an acquirer device, a second electronic device, such as an issuer device, and a plurality of electronic terminals, such as merchant terminals, by establishing a communication between the plurality of devices and terminals and accumulating transactions that are approved by the second electronic device. Then, periodically the plurality of transactions are settled using a transfer of monetary value between the first electronic device and the second electronic device. For example, the present invention uses electronic cash transfer to replace conventional settlement, which requires the use of a third-party settlement service.

Payments in cash are submitted to a merchant at a point of sale. The payment transaction is effected electronically to credit the end user's intermediary account. Subsequent electronic communications between the intermediary account and a vendor site effect payment to the vendor for goods or services on behalf of the end user. This system leverages the existing credit card payment system in reverse so as to provide the convenience of submitting cash payments at a multitude of merchant locations.

This disclosure describes a system that electronically collects, translates, groups, and delivers wage assignment information from at least one initiator to at least one recipient via an accumulator. An initiator initially receives the wage assignment information. Then, an accumulator collects the wage assignment information from at least one initiator, such as a government agency. The accumulator then translates the wage assignment information into a format compatible with electronic data interchange (EDI), such as the ANSI X12 standard. The accumulator then groups the EDI wage assignment information into specific files, batching the files based upon one data field contained within the wage assignment information data set, such as a recipient. The accumulator then delivers a batched EDI wage assignment file to each respective recipient. Once the EDI wage assignment file is received by the recipient, the wage assignment may then be implemented.

This disclosure describes a payment and disbursement system, wherein an initiator authorizes a payment and disbursement to a collector and the collector processes the payment and disbursement through an accumulator agency. The accumulator agency processes the payment as a debit-based transaction and processes the disbursement as an addendum-based transaction. The processing of a debit-based transaction generally occurs by electronic funds transfer (EFT) or by financial electronic data interchange (FEDI). The processing of an addendum-based transaction generally occurs by electronic data interchange (EDI).

A money management card adapted to provide a method of saving and investing for a user of the money management card. An entity, such as, for example, a card issuer, receives a user designation of one or more designated accounts that are to receive at least a portion of any additional amount added to purchases made using the money management card. The entity receives an indication that a user has used the money management card to make a purchase for a specified purchase amount subsequent to receiving the user designation. The entity adds a calculated additional amount to the specified purchase amount, for example, based on the fact a purchase was made or based at least in part on the specified purchase amount. The entity transfers an appropriate portion of the calculated additional amount to each of the one or more designated accounts. Third parties can also transfer matching funds that match at least a portion of the calculated additional amount.