SYSTEMS AND METHODS FOR FINANCIAL DATA COMMUNICATIONS AND DATA MANAGEMENT

The principles and embodiments of the present invention relate to a system for facilitating an interaction between a person (group or sponsor) and a merchant. In some embodiments, a system is provided in which the person electronically institutes a promise to spend a specific amount of money on purchases with the particular merchant in a specific time period and the merchant electronically institutes a savings offer on transactions made using a credit or debit card in exchange for the customer setting aside the predetermined amount of money. The system can comprise an account management system, user interface, first communication system, merchant interface system, second communication system and payment processor that may be dispersed elements or nodes interconnected by communication lines.