Abstract: A method for enabling consumers in a commercial or gaming context to push funds from a traditional open loop account to a closed loop account, and back. At the request of a consumer, funds are transferred to an open loop account of an intermediary payment system that holds or keeps track of virtual closed loop accounts for each consumer and virtual open or closed loop accounts for individual electing merchants or gaming establishments. The consumer may elect to open and use an associated closed loop card to acquire goods or services at the electing private label merchant's or to place a bet at the private label gaming facility or device that will cause funds to be transferred from the consumer's virtual closed loop account to the merchant or gaming establishment's closed loop account. Thereafter, the funds are transferred from the intermediary payment system to an open loop account belonging to the commercial or gaming merchant.