A white label merchant stored value account peer linking/funding system includes a payment service provider database storing associations between different merchants and respective groups of white label merchant stored value accounts. A payment service provider links, in the database, a first user identifier received from a first user device with a first white label merchant stored value account that is included in a first group of white label merchant stored value accounts that are associated with a first merchant in the database. The payment service provider device then receives second user identifiers from the first user device, and links each of the second user identifiers with the first white label merchant stored value account in the database. The payment service provider device then receives respective second user account information from the second user devices and funds the first white label merchant stored value account with respective first funding amounts.