Abstract: A payment processing system configured to provide merchant-specific accounts to consumers, such as virtual prepaid parking accounts, that are accessed by payment instruments. In one embodiment, the payment processing system can create and provide a variety of payment methodologies for purchases, such as pay-as-you-go, virtual prepaid, virtual subscription, and post-paid purchases. In some embodiments, the merchant can provide consumers with rewards accounts and opportunities to earn reward points or other loyalty-based currencies through qualifying purchase transactions. The system can also refund merchant-specific accounts for returns or unused portions of prepaid resources. The consumer can access their merchant-specific accounts for purchase payment or refund using a preferred payment instrument, such as a credit or debit card.