System and method for card linked reward exchange account

Abstract

A system and method for operating a reward points accumulation and redemption program wherein a user earns rewards from a plurality of independent reward issuing entities, with each tracking the user's earned rewards. A trading server accumulates some or all of the user's earned rewards from the reward servers and credits the accumulated rewards into a single reward exchange account associated with the user. The user may then select an item for purchase with the accumulated rewards. The item is provided to the user in exchange for a subset or all of the rewards. Reward points may also be redeemed in exchange for services, such as the playing of a video game or Internet access.

1 - 29 . (canceled) 
     
     
         30 . A method of a user executing a purchase transaction with a merchant computer comprising the steps of:
 a user operating a user computing device receiving from a reward exchange computer:
 (i) a display of reward points determined by the reward exchange computer to have been previously stored in a reward account, and 
 (ii) computer-based controls for the user via the user computing device to designate a quantity of reward points from the reward account for exchange into a reward exchange account stored on the reward exchange computer, 
   the user computing device sending to the reward exchange computer instructions that designate reward points from the reward account to be exchanged into the reward exchange account by the reward exchange computer causing the reward server computer on which the reward account is stored to decrease the reward account by the designated reward points, increasing the reward exchange account by a corresponding number of reward points based on a predetermined rate of exchange, and receiving consideration conveyed by the reward server computer corresponding to the number of reward points decreased in the reward account; and   the user presenting to a merchant computer for payment for a transaction a portable token linked to the reward exchange account to cause the merchant computer to send to the reward exchange computer a payment request including information for the portable token for payment for the transaction, which causes the reward exchange computer to redeem reward points from the reward exchange account for use as consideration in the transaction, the reward points previously exchanged in real time response to receiving the instructions from the user computing device.   
     
     
         31 . The method of  claim 30  wherein the portable token is a credit card. 
     
     
         32 . The method of  claim 30  wherein the portable token is a debit card. 
     
     
         33 . The method of  claim 30  wherein the portable token is a stored value card. 
     
     
         34 . The method of  claim 30  further comprising the step of using a credit card infrastructure with the portable token to link to the user's reward exchange account. 
     
     
         35 . The method of  claim 34  wherein the credit card infrastructure comprises the reward exchange computer with the reward exchange account. 
     
     
         36 . A user computing device comprising processing means programmed to execute a purchase transaction with a merchant computer by:
 receiving from a reward exchange computer:   
       (i) a display of reward points determined by the reward exchange computer to have been previously stored in a reward account, and (ii) computer-based controls for the user via the user computing device to designate a quantity of reward points from the reward account for exchange into a reward exchange account stored on the reward exchange computer;
 sending to the reward exchange computer instructions that designate reward points the reward account to be exchanged into the reward exchange account by the reward exchange computer causing the reward server computer on which the reward account is stored to decrease the reward account by the designated reward points, increasing the reward exchange account by a corresponding number of reward points based on a predetermined rate of exchange, and receiving consideration conveyed by the reward server computer corresponding to the number of reward points decreased in the reward account; and 
 presenting to a merchant computer for payment for a transaction a portable token linked to the reward exchange account to cause the merchant computer to send to the reward exchange computer a payment request including information for the portable token for payment for the transaction, which causes the reward exchange computer to redeem reward points from the reward exchange account for use as consideration in the transaction, the reward points previously exchanged in real time response to receiving the instructions from the user computing device. 
 
     
     
         37 . The user computing device of  claim 36  wherein the portable token is a credit card. 
     
     
         38 . The user computing device of  claim 36  wherein the portable token is a debit card. 
     
     
         39 . The user computing device of  claim 36  wherein the portable token is a stored value card. 
     
     
         40 . The user computing device of  claim 36  further comprising the step of using a credit card infrastructure with the portable token to link to the user's reward exchange account. 
     
     
         41 . The user computing device of  claim 40  wherein the credit card infrastructure comprises the reward exchange computer with the reward exchange account.