Merchant device for interacting with portable hand-held multi-function device having multiple transaction accounts

Abstract

A system and method for operating a reward points accumulation and redemption program wherein a user earns reward points from a plurality of independent reward points issuing entities, with each tracking the user's earned reward points in a user reward point account stored on a multi-function card (such as a frequent flyer account or a credit card loyalty account). The multi-function card is adapted to aggregate some or all of the user's earned reward points from the reward accounts and credit the aggregated points into a single reward exchange account on the multi-function card. The user may then select an item for purchase with the accumulated reward points from the multi-function card. The item is provided to the user in exchange for a subset or all of the reward points from the multi-function card.

1 - 34 . (canceled) 
     
     
         35 . A merchant terminal comprising:
 means for reading a portable multi-function device comprising a plurality of transaction applications stored in a data memory on the device, the plurality of transaction applications comprising a default transaction application designated in a user profile on the portable multi-function device for execution of a purchase transaction,   a display screen programmed to display the plurality of transaction applications read from the device,   means for selecting a transaction application from the plurality of transaction applications displayed on the display screen to override the default transaction application designated by the portable multi-function device for execution of the purchase transaction, and   an interconnection to a computer network for effecting payment for the purchase transaction using the default transaction application or, if selected, the selected transaction application.   
     
     
         36 . The merchant terminal of  claim 35 , wherein the display screen is further programmed to display a plurality of payment options associated with a selected transaction application. 
     
     
         37 . The merchant terminal of  claim 36 , wherein the plurality of payment options associated with a selected transaction application comprises credit associated with a credit card. 
     
     
         38 . The merchant terminal of  claim 36 , wherein the plurality of payment options associated with a selected transaction application comprises reward points associated with the credit card account that are stored on the portable multi-function device. 
     
     
         39 . The merchant terminal of  claim 36 , wherein the plurality of payment options associated with a selected transaction application comprises reward points associated with the credit card account that are stored on a remote rewards account. 
     
     
         40 . The merchant terminal of  claim 36 , wherein the plurality of payment options associated with a selected transaction application comprises a display of total reward points accrued. 
     
     
         41 . The merchant terminal of  claim 36 , wherein the plurality of payment options associated with a selected transaction application comprises a display of points awarded the purchase transaction. 
     
     
         42 . The merchant terminal of  claim 36 , wherein the plurality of payment options associated with a selected transaction application comprises an option to enter a number of reward points to be used to apply to the purchase transaction. 
     
     
         43 . The merchant terminal of  claim 42 , wherein the plurality of payment options associated with a selected transaction application comprises a price to be applied to the purchase transaction when the number of reward points entered are used for the purchase transaction. 
     
     
         44 . The merchant terminal of  claim 42 , wherein the plurality of payment options associated with a selected transaction application comprises a number of reward points remaining when the number of reward points entered are used for the purchase transaction. 
     
     
         45 . The merchant terminal of  claim 35  further programmed to upload a purchase incentive into the data memory of the device based on the purchase transaction. 
     
     
         46 . The merchant terminal of  claim 45  wherein the purchase incentive comprises a coupon. 
     
     
         47 . The merchant terminal of  claim 45  wherein the purchase incentive comprises reward points. 
     
     
         48 . A method of executing a purchase transaction comprising:
 a merchant terminal reading a portable multi-function device comprising a plurality of transaction applications stored in a data memory on the device, the plurality of transaction applications comprising a default transaction application designated in a user profile on the portable multi-function device for execution of a purchase transaction,   the merchant terminal displaying on a display screen the plurality of transaction applications read from the device,   the merchant terminal receiving a selection of transaction application from the plurality of transaction applications displayed on the display screen to override the default transaction application designated by the portable multi-function device for execution of the purchase transaction, and   the merchant terminal interconnecting to a computer network for effecting payment for the purchase transaction using the default transaction application or, if selected, the selected transaction application.   
     
     
         49 . The method of  claim 48 , wherein the merchant terminal further displays a plurality of payment options associated with a selected transaction application. 
     
     
         50 . The method of  claim 49 , wherein the plurality of payment options associated with a selected transaction application comprises credit associated with a credit card. 
     
     
         51 . The method of  claim 49 , wherein the plurality of payment options associated with a selected transaction application comprises reward points associated with the credit card account that are stored on the portable multi-function device. 
     
     
         52 . The method of  claim 49 , wherein the plurality of payment options associated with a selected transaction application comprises reward points associated with the credit card account that are stored on a remote rewards account. 
     
     
         53 . The method of  claim 49 , wherein the plurality of payment options associated with a selected transaction application comprises a display of total reward points accrued. 
     
     
         54 . The method of  claim 49 , wherein the plurality of payment options associated with a selected transaction application comprises a display of points awarded the purchase transaction. 
     
     
         55 . The method of  claim 49 , wherein the plurality of payment options associated with a selected transaction application comprises an option to enter a number of reward points to be used to apply to the purchase transaction. 
     
     
         56 . The method of  claim 55 , wherein the plurality of payment options associated with a selected transaction application comprises a price to be applied to the purchase transaction when the number of reward points entered are used for the purchase transaction. 
     
     
         57 . The method of  claim 55 , wherein the plurality of payment options associated with a selected transaction application comprises a number of reward points remaining when the number of reward points entered are used for the purchase transaction. 
     
     
         58 . The method of  claim 48  further comprising the merchant terminal uploading a purchase incentive into the data memory of the device based on the purchase transaction. 
     
     
         59 . The method of  claim 58  wherein the purchase incentive comprises a coupon. 
     
     
         60 . The method of  claim 58  wherein the purchase incentive comprises reward points.