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 reward exchange computer determining from a reward server computer a quantity of reward points previously stored in a reward account associated with a user,   a user computing device receiving from the reward exchange computer:
 (i) a display of the quantity of reward points determined by the reward exchange computer to have been previously stored in the 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 and associated with the user, 
   the user computing device sending to the reward exchange computer instructions that designate the quantity of reward points from the reward account to be exchanged into the reward exchange account by the reward exchange computer,   the reward exchange computer requesting the reward server computer to decrease the reward account by the designated quantity of 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 quantity of reward points decreased in the reward account;   the user presenting to a merchant computer for payment for a transaction a portable token linked to the reward exchange account,   the reward exchange computer receiving from the merchant computer a payment request including information for the portable token for payment for the transaction, and   the reward exchange computer redeeming reward points from the reward exchange account for use as consideration in the transaction.   
     
     
         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 system comprising
 a user computing device,   a merchant computer,   a reward server computer comprising a reward account associated with a user, and   a reward exchange computer comprising a reward exchange account associated with the user, the reward exchange computer interconnected with the merchant computer and the reward server computer,   wherein the reward exchange computer is programmed to:
 determine from the reward server computer a quantity of reward points previously stored in the reward account, 
 send to the user computing device (i) a display of the quantity of reward points determined by the reward exchange computer to have been previously stored in the 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 the reward exchange account stored on the reward exchange computer; 
 receive from the user computing device instructions that designate the quantity of reward points from the reward account to be exchanged into the reward exchange account by the reward exchange computer, 
 request the reward server computer to decrease the reward account by the designated quantity of reward points, 
 increase the reward exchange account by a corresponding number of reward points based on a predetermined rate of exchange, 
 receive consideration conveyed by the reward server computer corresponding to the quantity of reward points decreased in the reward account, 
 receive from the merchant computer a payment request including information for a portable token linked to the reward exchange account for payment for a transaction with the user computing device, and 
 redeem reward points from the reward exchange account for use as consideration in the transaction. 
   
     
     
         37 . The system of  claim 36  wherein the portable token is a credit card. 
     
     
         38 . The system of  claim 36  wherein the portable token is a debit card. 
     
     
         39 . The system of  claim 36  wherein the portable token is a stored value card. 
     
     
         40 . The system of  claim 36  wherein the merchant computer and the reward exchange computer are interconnected to each other via a credit card infrastructure.