SYSTEM FOR ELECTRONIC BARTER, TRADING AND REDEEMING POINTS ACCUMULATED IN FREQUENT USE REWARD PROGRAMS

• US 20070129998A1
• Filed: 03/29/2006
• Published: 06/07/2007
• Est. Priority Date: 06/23/1999
• Status: Active Grant

• Current Assignee: Signature Systems LLC
• Original Assignee: Signature Systems LLC
• Inventors: Postrel, Richard
• Granted Patent: US 7,676,393 B2
• Time in Patent Office: Days
• US Class Current: 705/14.170
• CPC Class Codes: G06Q 20/06 Private payment circuits, e.g. involving electronic currency used among participants of a common payment scheme
• CPC Class Codes: G06Q 20/12 specially adapted for electronic shopping systems
• CPC Class Codes: G06Q 20/22 Payment schemes or models
• CPC Class Codes: G06Q 20/343 Cards including a counter
• CPC Class Codes: G06Q 30/02 Marketing; Price estimation or determination; Fundraising
• CPC Class Codes: G06Q 30/0207 Discounts or incentives, e.g. coupons or rebates
• CPC Class Codes: G06Q 30/0208 Trade or exchange of goods or services in exchange for incentives or rewards
• CPC Class Codes: G06Q 30/0209 Incentive being awarded or redeemed in connection with the playing of a video game
• CPC Class Codes: G06Q 30/0212 Chance discounts or incentives
• CPC Class Codes: G06Q 30/0215 Including financial accounts
• CPC Class Codes: G06Q 30/0222 During e-commerce, i.e. online transactions
• CPC Class Codes: G06Q 30/0223 based on inventory
• CPC Class Codes: G06Q 30/0225 Avoiding frauds
• CPC Class Codes: G06Q 30/0226 Incentive systems for frequent usage, e.g. frequent flyer miles programs or point systems
• CPC Class Codes: G06Q 30/0227 Frequent usage incentive value reconciliation between diverse systems
• CPC Class Codes: G06Q 30/0228 On-line clearing houses
• CPC Class Codes: G06Q 30/0229 Multi-merchant loyalty card systems
• CPC Class Codes: G06Q 30/0233 Method of redeeming a frequent usage reward
• CPC Class Codes: G06Q 30/0236 Incentive or reward received by requiring registration or ID from user
• CPC Class Codes: G06Q 30/0239 Online discounts or incentives
• CPC Class Codes: G06Q 30/06 : Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/04 : Trading; Exchange, e.g. stocks, commodities, derivatives or currency exchange
• CPC Class Codes: G07F 17/3255 : Incentive, loyalty and/or promotion schemes, e.g. comps, gaming associated with a purchase, gaming funded by advertisements

Abstract

A system and method for operating a reward points accumulation and redemption program wherein a user earns reward points from a plurality of reward points issuing entities, each of the reward points issuing entities tracking the user'"'"'s earned reward points in a user reward point account stored on a rewards server. A trading server accumulates the user'"'"'s earned reward points from each of the reward servers interconnected over a network in association with consideration provided by the reward servers to the trading server and credits the accumulated points into a reward exchange account associated with the user. The user may then select an item for purchase from a merchant computer interconnected to the network. The merchant computer provides the item to the user in exchange for consideration received from said trading server, and the trading server reduces the number of points in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

Claims

1-29. -29. (canceled)

30. A method of operating a reward accumulation and redemption program comprising the steps of:

a) earning rewards from each of a plurality of different rewards issuers, each of said reward issuers tracking the earned rewards;

b) selecting an item for purchase from a merchant with a combination of earned rewards;

c) designating at least some of said earned rewards from said reward issuers for redemption for said item selected for purchase, and

e) combining the designated earned rewards for redemption for said item selected for purchase.

31. The method of claim 30 wherein each of said designated rewards are combined for redemption at a predetermined rate of exchange.

32. The method of claim 30 wherein at least a portion of said rewards are earned based on a transaction with a merchant.

33. The method of claim 30 wherein at least a portion of said rewards are earned based on a credit card transaction.

34. The method of claim 33 wherein the credit card transaction earns rewards based on a monetary value of the credit card transaction.

35. The method of claim 30 wherein at least a portion of said rewards are earned based on a transaction with an airline.

36. The method of claim 35 wherein the transaction with an airline earns rewards in the form of frequent flyer points based on an airline trip.

37. The method of claim 30 in which the step of selecting an item for purchase from a merchant with a combination of earned rewards is executed via a web site accessed over a networked computer system.

38. The method of claim 30 in which the step of designating at least some of said earned rewards from said reward issuers for redemption for said item selected for purchase is executed via a web site accessed over a networked computer system.

39. The method of claim 30 in which the step of combining the designated earned rewards for redemption for said item selected for purchase is executed via a web site accessed over a networked computer system.

40. The method of claim 30 in which the step of designating at least some of said earned rewards from said reward issuers for redemption for said item selected for purchase is executed via a user-accessible computing device operatively associated with said reward issuers.

41. The method of claim 30 in which the step of combining the designated earned rewards for redemption for said item selected for purchase is executed via a user-accessible computing device operatively associated with said reward issuers.

42. The method of claim 30 wherein the transaction further comprises the steps of

presenting a card to the merchant, wherein the card is associated with at least one of said rewards issuers, and

using the card to access the rewards designated for redemption for said item selected for purchase.

43. The method of claim 42 wherein the card is a credit card.

44. The method of claim 42 wherein the card is a debit card.

45. The method of claim 42 wherein the card is a stored value card.

46. The method of claim 42 wherein the card is a smart card.

47. The method of claim 42 further comprising the step of using a credit card infrastructure with the card to access the rewards designated for redemption for said item selected for purchase.

48. The method of claim 30 further comprising the step of each reward issuer providing consideration to the merchant in exchange for the merchant combining the designated earned rewards for redemption for said item selected for purchase.

49. The method of claim 30 wherein the step of designating at least some of said earned rewards from said reward issuers for redemption for said item selected for purchase is performed by operating a user-accessible computing device interconnected to the credit card infrastructure.

50. The method of claim 30 wherein a purchase price associated with the item for purchase exceeds a combined value of the rewards that are designated for redemption to purchase the product, and wherein the user provides additional consideration to enable the purchase of the selected product.

51. A reward accumulation and redemption system comprising:

means, associated a plurality of rewards issuers, for tracking earned rewards;

means for enabling selection of an item for purchase from a merchant with a combination of earned rewards;

means for designating at least some of said earned rewards from said reward issuers for redemption for said item selected for purchase, and

means for combining the designated earned rewards for redemption for said item selected for purchase.

52. The system of claim 51 wherein each of said designated rewards are combined for redemption at a predetermined rate of exchange.

53. The system of claim 52 wherein at least a portion of said rewards are earned based on a transaction with a merchant.

54. The system of claim 51 wherein at least a portion of said rewards are earned based on a credit card transaction.

55. The system of claim 54 wherein the credit card transaction earns rewards based on a monetary value of the credit card transaction.

56. The system of claim 51 wherein at least a portion of said rewards are earned based on a transaction with an airline.

57. The system of claim 56 wherein the transaction with an airline earns rewards in the form of frequent flyer points based on an airline trip.

58. The system of claim 51 in which the means for enabling selection of an item for purchase from a merchant with a combination of earned rewards comprises a computing device hosting a web site accessible over a networked computer system.

59. The system of claim 51 in which the means for designating at least some of said earned rewards from said reward issuers for redemption for said item selected for purchase comprises a computing device hosting a web site accessible over a networked computer system.

60. The system of claim 51 in which the means for combining the designated earned rewards for redemption for said item selected for purchase comprises a computing device hosting a web site accessible over a networked computer system.

61. The system of claim 51 in which the means for designating at least some of said earned rewards from said reward issuers for redemption for said item selected for purchase comprises a user-accessible computing device operatively associated with said reward issuers.

62. The system of claim 51 in which the means for combining the designated earned rewards for redemption for said item selected for purchase comprises a user-accessible computing device operatively associated with said reward issuers.

63. The system of claim 51 further comprising means for enabling a card presented to the merchant to be used the card to access the rewards designated for redemption for said item selected for purchase, said card associated with at least one of said rewards issuers.

64. The system of claim 63 wherein the card is a credit card.

65. The system of claim 63 wherein the card is a debit card.

66. The system of claim 63 wherein the card is a stored value card.

67. The system of claim 63 wherein the card is a smart card.

68. The system of claim 63 further comprising means for accessing a credit card infrastructure with the card to access the rewards designated for redemption for said item selected for purchase.

69-84. -84. (canceled)

85. A method of managing rewards comprising the steps of:

a) establishing a reward account directly with each of at least two reward issuing entities,

wherein each of said reward accounts is stored on a reward server associated with the reward issuing entity, and

wherein each of said reward accounts tracks rewards earned by the user for transactions between the user and the associated reward issuing entity, and

wherein each of the reward issuing entities enables the user to redeem rewards from the reward account associated with the user for an item selected by the user,

b) earning rewards from each of the reward issuing entities, each of said reward issuing entities tracking the user'"'"'s earned rewards in the user'"'"'s reward account stored on the reward server associated with the reward issuing entity,

c) designating at least some of said rewards from a first one of said user'"'"'s reward point accounts for transferring into a second one of said user'"'"'s reward point accounts via a computer network;

d) transferring the designated rewards from the first one of said user'"'"'s reward accounts into the second one of said user'"'"'s reward accounts via the computer network;

e) enabling a user to access a web site for the reward server associated with the second reward account and redeem rewards from the second reward account.

86. The method of claim 85 further comprising the step of enabling the user to redeem rewards that originated in the second reward account in combination with rewards that were transferred from the first reward account into the second reward account.

87. The method of claim 85 wherein the rewards that are transferred from the first reward account into the second reward account are transferred at a predetermined rate of exchange.

88. The method of claim 85 wherein the step of transferring the designated rewards from the first one of said user'"'"'s reward accounts into the second one of said user'"'"'s reward accounts via the computer network comprises the steps of decreasing the rewards in the first one of said user'"'"'s reward accounts and increasing the rewards in the second one of said user'"'"'s reward accounts.

89. The method of claim 88 wherein consideration is transferred from the reward issuing entity associated with the first one of said user'"'"'s reward accounts to the reward issuing entity associated with the second one of said user'"'"'s reward accounts.

90. The method of claim 85 wherein rewards are redeemed from the second reward account for an item listed in an online catalog.

91. A method of managing rewards comprising the steps of:

a) a user earning rewards from each of at least two reward issuing entities, each of said reward issuing entities tracking the user'"'"'s earned rewards in a reward account associated with the user stored on a rewards server associated with the reward issuing entity and interconnected to a computer network,

b) designating at least some of said rewards from a first one of said user'"'"'s reward accounts for transferring into a second one of said user'"'"'s reward accounts via the computer network,

c) transferring via the computer network the designated rewards from the first one of said user'"'"'s reward accounts into the second one of said user'"'"'s reward accounts, and

d) enabling a user to access a web site for the reward server associated with the second reward account and redeem rewards from the second reward account.

92. The method of claim 91 further comprising the step of enabling the user to redeem rewards that originated in the second reward account in combination with rewards that were transferred from the first reward account into the second reward account.

93. The method of claim 91 wherein the rewards that are transferred from the first reward account into the second reward account are transferred at a predetermined rate of exchange.

94. The method of claim 91 wherein the step of transferring the designated rewards from the first one of said user'"'"'s reward accounts into the second one of said user'"'"'s reward accounts via the computer network comprises the steps of decreasing the rewards in the first one of said user'"'"'s reward accounts and increasing the rewards in the second one of said user'"'"'s reward accounts.

95. The method of claim 91 wherein consideration is transferred from the reward issuing entity associated with the first one of said user'"'"'s reward accounts to the reward issuing entity associated with the second one of said user'"'"'s reward accounts.

96. The method of claim 91 wherein rewards are redeemed from the second reward account for an item listed in an online catalog.

97. A method of managing rewards comprising the steps of:

a) designating at least some of a plurality of rewards previously earned by a user and stored in a first one of at least two reward accounts stored on a rewards server associated with a reward issuing entity for transferring into a second one of said user'"'"'s reward accounts via a computer network,

b) transferring via the computer network the designated rewards from the first one of said user'"'"'s reward accounts into the second one of said user'"'"'s reward accounts, and

c) enabling a user to access a web site for the reward server computer associated with the second reward account and redeem rewards from the second reward account.

98. The method of claim 97 further comprising the step of enabling the user to redeem that originated in the second reward account in combination with rewards that were transferred from the first reward account into the second reward account.

99. The method of claim 97 wherein the rewards that are transferred from the first reward account into the second reward account are transferred at a predetermined rate of exchange.

100. The method of claim 97 wherein the step of transferring the designated rewards from the first one of said user'"'"'s reward accounts into the second one of said user'"'"'s reward accounts via the computer network comprises the steps of decreasing the rewards in the first one of said user'"'"'s reward accounts and increasing the rewards in the second one of said user'"'"'s reward accounts.

101. The method of claim 97 wherein consideration is transferred from the reward issuing entity associated with the first one of said user'"'"'s reward accounts to the reward issuing entity associated with the second one of said user'"'"'s reward accounts.

102. The method of claim 97 wherein rewards are redeemed from the second reward account for an item listed in an online catalog.

103. A method of operating a reward accumulation and redemption program comprising the steps of:

a) enabling a user to establish a reward exchange account on a trading server that is selectively interconnected over a network with a plurality of reward servers that store a reward account maintained on behalf of the user that track rewards earned by the user for transactions between the user and an associated reward issuing entity,

b) enabling the user to designate at least some of said earned rewards from one or more of said user'"'"'s reward accounts for trading into the reward exchange account,

c) the trading server accumulating the user'"'"'s designated earned rewards from said designated reward accounts into the reward exchange account associated with the user, and

d) enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item selected by the user.

104. The method of claim 103 wherein the step of enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item selected by the user comprises the steps of:

enabling the user to select an item for purchase from a merchant computer interconnected to the network, instructing that the merchant computer provide the item to the user in exchange for consideration received from said trading server, and the trading server reducing the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

105. The method of claim 104 in which the reduction in rewards in the user'"'"'s reward exchange account stored on the trading server is higher than the rewards needed to pay for the requested item.

106. The method of claim 104 in which the purchase may be accomplished with a combination of rewards from the user'"'"'s reward exchange account stored on the trading server and other consideration.

107. The method of claim 103 in which the reward issuing entities are selected from the group comprising an airline reward issuing entity, a credit and reward issuing entity, a hotel reward issuing entity, and a rental car reward issuing entity.

108. The method of claim 103 in which the trading server directs a user'"'"'s accumulated rewards to a smart card associated with the user.

109. The method of claim 108 further comprising the step of enabling the user to make a purchase from a merchant directly by utilizing the smart card to exchange stored accumulated rewards with the merchant for a desired item.

110. The method of claim 103 in which the user'"'"'s accumulated rewards are used to pay for entertainment services.

111. The method of claim 103 wherein the user is enabled to designate which rewards are redeemed from the reward accounts associated with the user.

112. The method of claim 103 wherein the user is enabled to designate which accumulated rewards are redeemed from the user'"'"'s reward exchange account.

113. The method of claim 103 further comprising the step of the trading server accepting consideration from each reward issuing entity in exchange for the trading server accumulating the user'"'"'s reward points from the reward account into the reward exchange account.

114. The method of claim 113 in which the consideration provided to the trading server by the reward issuing entity has a value higher than the value of the user'"'"'s earned rewards that are exchanged for said consideration.

115. The method of claim 103 wherein the step of enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item selected by the user comprises the steps of:

enabling the user to select an item for purchase by linking to an associated merchant computer for providing the item to the user in exchange for consideration received from the trading server, and the trading server reducing the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

116. The method of claim 103 wherein the step of enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item selected by the user comprises the steps of:

enabling the user to select an item for purchase from a list of products available from a merchant computer provided to the user by the trading server, causing the merchant to provide the item to the user in exchange for consideration received from the trading server, and the trading server reducing the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

117. The method of claim 103 wherein the step of enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item selected by the user comprises the steps of:

enabling the user to select an item for purchase from a list of available items provided by the trading server to the user over the network, wherein the list of available items comprises identification of items available directly from the trading server, and the trading server reducing the rewards in the user'"'"'s reward exchange account in accordance with the item selected by the user.

118. The method of claim 103 wherein the step of enabling the user to designate at least some of said earned rewards from one or more of said user reward accounts for trading into the reward exchange account is performed by enabling a user to interface with the trading server with a user computer interconnected to the network.

119. The method of claim 103 wherein the step of enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item selected by the user is performed by enabling a user to interface with the trading server with a user computer interconnected to the network.

120. A reward accumulation and redemption system comprising:

a trading server selectively interconnected over a network to a plurality of reward servers, each associated with a reward issuing entity and comprising data storage means for storing a plurality of reward accounts, each associated with a user and configured to track rewards earned by the associated user for transactions between the user and the associated reward point issuing entity;

i. wherein the trading server comprises data storage means for storing a plurality of reward exchange accounts, each of said reward exchange accounts associated with a user;

ii. wherein the trading server is configured to enable a user to designate at least some rewards from one or more of reward accounts associated with the user for trading into the reward exchange account associated with the user;

iii. wherein the trading server further comprises;

1. means for accumulating the rewards designated by the user from each of said reward accounts associated with the user into the reward exchange account associated with the user, and

2. means for allowing the user to interact with the trading server to redeem accumulated rewards from the reward exchange account associated with the user for an item selected by the user;

whereby the reward accumulation and redemption system enables the selection of portions of available rewards from selected reward accounts for accumulation into the user'"'"'s reward exchange account on the trading server.

121. A reward accumulation and redemption system comprising:

a reward exchange computer selectively interconnected over a network to each of a plurality of reward servers, each reward server associated with a reward issuing entity and comprising a database storing a plurality of reward accounts, each reward account associated with a user and configured to store rewards earned by the user for transactions between the user and the associated reward issuing entity;

a reward exchange account database associated with the reward exchange computer, storing a plurality of reward exchange accounts, each reward exchange account associated with a user;

the reward exchange computer adapted to;

enable a user to interact with the reward exchange computer and designate at least some rewards from one or more of said reward accounts associated with the user for exchanging into the reward exchange account associated with the user;

exchange the rewards designated by the user into the reward exchange account associated with the user;

enable a user to interact with the reward exchange computer to redeem the rewards from the reward exchange account associated with the user for an item selected by the user.

122. A method of operating a reward accumulation and redemption program comprising the steps of:

a) establishing a reward exchange account on a trading server that is selectively interconnected over a network with a plurality of reward servers that store a reward point maintained on behalf of a user that track rewards earned by the user for transactions between the user and an associated reward issuing entity,

b) designating at least some of said earned rewards from one or more of a user'"'"'s reward accounts for trading into the reward exchange account,

c) accumulating the designated earned rewards from said reward accounts into the reward exchange account associated with the user, and

d) enabling redemption of accumulated rewards from the user'"'"'s reward exchange account for an item selected by the user.

123. The method of claim 122 wherein the step of enabling redemption of accumulated rewards from the user'"'"'s reward exchange account for an item selected by the user comprises the steps of:

enabling the selection of an item for purchase from a merchant computer interconnected to the network, instructing that the merchant provide the item to the user in exchange for consideration received from said trading server, and reducing the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

124. The method of claim 123 in which the reduction in rewards in the user'"'"'s reward exchange account stored on the trading server is higher than the number of rewards needed to pay for the requested item.

125. The method of claim 123 in which the purchase may be accomplished with a combination of rewards from the user'"'"'s reward exchange account stored on the trading server and other consideration.

126. The method of claim 122 in which the trading server directs a user'"'"'s accumulated rewards to a smart card associated with the user.

127. The method of claim 126 further comprising the step of enabling the user to make a purchase from a merchant directly by utilizing the smart card to exchange stored accumulated rewards with the merchant for a desired item.

128. The method of claim 122 further comprising the step of the enabling the user to designate which rewards are redeemed from the reward accounts associated with the user.

130. The method of claim 122 further comprising the step of the trading server accepting consideration from each reward issuing entity in exchange for the trading server accumulating the user'"'"'s rewards from the reward account into the reward exchange account.

131. The method of claim 130 in which the consideration provided to the trading server by the reward issuing entity has a value higher than the value of the user'"'"'s earned rewards that are exchanged for said consideration.

132. The method of claim 122 wherein the step of enabling redemption of accumulated rewards from the user'"'"'s reward exchange account for an item selected by the user comprises the steps of:

enabling the user to select an item for purchase by linking to an associated merchant computer for providing the item to the user in exchange for consideration received from the trading server, and reducing the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

133. The method of claim 122 wherein the step of enabling redemption of accumulated points from the user'"'"'s reward exchange account for an item selected by the user comprises the steps of:

enabling the user to select an item for purchase from a list of products available from a merchant computer provided to the user by the trading server, causing the merchant to provide the item to the user in exchange for consideration received from the trading server, and reducing the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

134. The method of claim 122 wherein the step of enabling redemption of accumulated rewards from the user'"'"'s reward exchange account for an item selected by the user comprises the steps of:

enabling the user to select an item for purchase from a list of available items provided by the trading server to the user over the network, wherein the list of available items comprises identification of items available directly from the trading server, and reducing the rewards in the user'"'"'s reward exchange account in accordance with the item selected by the user.

135. The method of claim 122 wherein the step of designating at least some of said earned rewards from one or more of said user reward accounts for trading into the reward exchange account is performed by a user interfacing with the trading server with a user computer interconnected to the network.

136. The method of claim 122 wherein the step of enabling redemption of accumulated points from the user'"'"'s reward exchange account for an item selected by the user is performed by a user interfacing with the trading server with a user computer interconnected to the network.

137. A reward accumulation and redemption system comprising:

a trading server selectively interconnected over a network to a plurality of reward servers, each associated with a reward issuing entity and comprising data storage means for storing a plurality of reward accounts associated with a user and configured to track rewards earned by the associated user for transactions between the user and the associated reward point issuing entity,

i. wherein the trading server comprises data storage means for storing a plurality of reward exchange accounts, each of said reward exchange accounts associated with a user;

ii. wherein the trading server is configured to enable designation of at least some rewards from one or more of reward accounts associated with the user for trading into the reward exchange account associated with the user;

iii. wherein the trading server further comprises;

1. means for accumulating the rewards designated by the user from each of said reward accounts associated with the user into the reward exchange account associated with the user, and

2. means for allowing interaction with the trading server to redeem accumulated rewards from the reward exchange account associated with the user for an item selected by the user.

138. A reward accumulation and redemption system comprising:

a reward exchange computer selectively interconnected over a network to a plurality of reward servers associated with a reward issuing entity and comprising a database storing a plurality of reward accounts, each reward account associated with a user and configured to store rewards earned by the user for transactions between the user and the associated reward issuing entity;

a reward exchange account database associated with the reward exchange computer, storing a plurality of reward exchange accounts, each reward exchange account associated with a user;

the reward exchange computer comprising processing circuitry adapted to;

enable designation of at least some rewards from one or more of said reward accounts associated with the user for exchanging into the reward exchange account associated with the user;

exchange the designated rewards into the reward exchange account associated with the user;

enable interaction with the reward exchange computer to redeem the rewards from the reward exchange account associated with the user for an item selected by the user.

139. A method for making an online purchase over a networked computer system comprising the steps of:

a. enabling a user to access a web site for an online reward trading system that allows accumulation of rewards from a plurality of individual reward accounts for application towards online payment of a product, each individual reward account associated with an individual reward issuing entity and stored on a reward server associated with the reward issuing entity, and wherein each of said reward accounts tracks rewards earned by the user for transactions between the user and the associated reward issuing entity, and wherein each of the reward issuing entities enables the user to redeem rewards from the reward account associated with the user for an item selected by the user;

b. determining the number of rewards a user has in a plurality of individual reward accounts;

c. enabling the user to select via the web site a product to be purchased from a plurality of available products;

d. displaying to the user the rewards available for redemption in at least one of the plurality of individual reward accounts;

e. enabling the user to select via the web site rewards from selected individual reward accounts to be accumulated and applied to the purchase of the selected product;

f. accumulating the selected rewards from the selected individual reward accounts for application in a purchase transaction for the selected product; and

g. executing a purchase transaction for the selected product on behalf of the user by applying the accumulated rewards to the purchase price of the product.

140. The method of claim 139 wherein the step of enabling the user to select via the web site a product to be purchased from a plurality of available products comprises the steps of:

a. the reward trading system generating an online catalog of a plurality of products available for purchase;

b. the reward trading system providing the online catalog for display to the user via the web site; and

c. enabling the user to select a desired product from the online catalog displayed via the web site.

141. The method of claim 140 wherein an available product is displayed in the online catalog along with the rewards required to purchase the product.

142. The method of claim 140 wherein an available product is displayed in the online catalog along with the rewards that may be applied to purchase the product.

143. The method of claim 142 wherein the purchase price exceeds the value of the rewards that may be applied to purchase the product, and wherein the user is enabled to provide additional payment to allow the reward trading system to execute a purchase transaction for the selected product on behalf of the user.

144. The method of claim 143 wherein the user is enabled to provide additional payment with a credit card via the web site.

145. The method of claim 139 wherein the step of the enabling the user to select via the web site a product to be purchased from a plurality of available products comprises the steps of:

a. the reward trading system providing links to associated merchant web sites that display products available for purchase;

b. enabling the user to link to an associated merchant web site; and

c. enabling the user to select a desired product from a merchant web site.

146. The method of claim 139 further comprising the step of the reward trading system causing the selected individual reward accounts to deduct the rewards designated by the user and accumulated by the reward trading system for the purchase transaction for the selected product.

147. The method of claim 146 wherein the reward trading system accepts consideration from a reward issuing entity in exchange for the deduction of rewards designated by the user from an associated reward account.

148. A method for accumulating rewards from a plurality of individual reward issuing entities into a common reward account over a networked computer system comprising the steps of:

a. enabling a user to access a web site for an online reward trading system that allows accumulation of rewards from a plurality of individual reward accounts, each individual reward account associated with an individual reward issuing entity and stored on a reward server associated with the reward issuing entity, and wherein each of said reward accounts tracks rewards earned by the user for transactions between the user and the associated reward issuing entity, and wherein each of the reward issuing entities enables the user to redeem rewards from the reward account associated with the user for an item selected by the user;

b. determining the rewards a user has in a plurality of individual reward accounts;

c. the web site displaying to the user the rewards available in the plurality of individual reward accounts;

d. enabling the user to interactively select via the web site rewards from selected individual reward accounts to be accumulated; and

e. accumulating the selected rewards from each of the selected individual reward accounts into a single reward account.

149. A method for accumulating rewards from at least one individual reward issuing entity into a common reward account over a networked computer system comprising the steps of:

a. enabling a user to access a web site for an online reward trading system that allows accumulation of rewards from at least one individual reward account associated with an individual reward issuing entity;

b. determining, by accessing a reward server associated with the at least one individual reward issuing entity, the rewards a user has in the at least one individual reward account associated with the at least one individual reward issuing entity;

c. displaying to the user the rewards available in the at least one individual reward account;

d. enabling the user to interactively select via the web site rewards from the at least one individual reward account to be traded into a common reward account; and

e. the reward trading system trading the designated rewards from the at least one individual reward account into the common reward account.

150. The method of claim 149 wherein the reward trading system trades the designated rewards from the at least one individual reward account into the common reward account at a predetermined rate of exchange.

151. The method of claim 150 wherein the step of the reward trading system trading the designated rewards from the at least one individual reward account into the common reward account at a predetermined rate of exchange comprises directing that the reward server associated with the at least one individual reward issuing entity decrease the reward account by the designated rewards;

and that the reward trading system increase the common reward account by the corresponding rewards based on the predetermined rate of exchange.

152. The method of claim 151 comprising the further step of accepting consideration from the reward server corresponding to the number of rewards decreased in the reward account.

153. The method of claim 152 wherein the consideration conveyed to the reward trading system is in the form of a monetary credit to an account between the reward trading system and the reward server.

154. The method of claim 151 wherein the common reward account represents a combined value of rewards traded into the common reward account.

155. The method of claim 151 wherein the rewards represent an earned value with a cash equivalent or negotiable worth.

156. The method of claim 151 further comprising the step of recording the trade of the designated rewards from the at least one individual reward account into the common reward account in a transaction log for a subsequent reconciliation process between the reward trading system and the reward server.

157. A method for exchanging rewards from at least one individual reward issuing entity into a common reward account over a networked computer system comprising the steps of:

a. enabling a user to access a web site for an online reward exchange system that allows exchanging of rewards from at least one individual reward account associated with an individual reward issuing entity;

b. determining, by accessing a computer associated with the at least one individual reward issuing entity, the rewards a user has in at least one individual reward account associated with the at least one individual reward issuing entity;

c. displaying to the user the rewards available in the at least one individual reward account;

d. enabling the user to select via the web site rewards from the at least one individual reward account to be exchanged into a common reward account; and

e. the reward trading system exchanging the selected rewards from the at least one individual reward account into rewards in the common reward account.

158. The method of claim 157 wherein the reward exchange system exchanges the selected rewards from the at least one individual reward account into the common reward account at a predetermined rate of exchange.

159. The method of claim 158 wherein the step of the reward exchange system exchanging the selected rewards from the at least one individual reward account into the common reward account at a predetermined rate of exchange comprises instructing that the reward server associated with the at least one individual reward issuing entity decrease the reward account by the selected rewards;

and that the reward exchange system increase the common reward account by the corresponding rewards based on the predetermined rate of exchange.

160. The method of claim 159 comprising the further step of accepting consideration from the reward server corresponding to the rewards decreased in the reward account.

161. The method of claim 160 wherein the consideration is in the form of a monetary credit to an account between the reward trading system and the reward server.

162. The method of claim 159 wherein the common reward account represents a combined value of rewards traded into the common reward account.

163. The method of claim 159 wherein the rewards represent an earned value with a cash equivalent or negotiable worth.

164. The method of claim 159 further comprising the step of recording the exchange of the designated rewards from the at least one individual reward account into the common reward account in a transaction log for a subsequent reconciliation process between the reward exchange system and the reward server.

165. A method for exchanging rewards from a first reward account into a second reward account over a networked computer system comprising the steps of:

a. enabling a user to access a web site for an online reward exchange system that allows exchanging of rewards from a first reward account to rewards in a second reward account;

b. determining, by accessing a reward server associated with the first reward account, the rewards a user has in the first reward account;

c. displaying to the user the rewards available in the first reward account;

d. enabling the user to select via the web site rewards from the first reward account to be exchanged into the second reward account; and

e. exchanging the selected rewards from the first reward account into rewards in the second reward account.

166. The method of claim 165 wherein the selected rewards are exchanged from the first reward account into the second reward account at a predetermined rate of exchange.

167. The method of claim 166 wherein the step of exchanging the selected rewards from the first reward account into rewards in the second reward account at a predetermined rate of exchange comprises

the reward server associated with the first reward account decreasing the first reward account by the designated rewards;

and

the reward exchange system increasing the second reward account by the corresponding rewards based on the predetermined rate of exchange.

168. The method of claim 167 comprising the further step of the reward server conveying consideration to the reward exchange system corresponding to the rewards decreased in the reward account.

169. The method of claim 168 wherein the consideration conveyed by the reward server to the reward points exchange system is in the form of a monetary credit to an account between the reward points exchange system and the reward server.

170. The method of claim 167 wherein the second reward account represents a combined value of rewards exchanged into the second reward account.

171. The method of claim 167 wherein the rewards represent an earned value with a cash equivalent or negotiable worth.

172. The method of claim 167 further comprising the step of recording the exchange of the designated rewards from the first reward account into the second reward account in a transaction log for a subsequent reconciliation process between the reward exchange system and the reward server.

173. A reward exchange computer comprising:

a. means to interconnect to a computer network for communication with a user computer and a plurality of individual reward computers;

b. means for allowing a user to access a web site;

c. means for determining the rewards a user has in a first reward account;

d. means for providing to a user computer a display of the rewards available in the first reward account;

e. means for allowing a user to select rewards from the first reward account to be exchanged into a second reward account; and

f. means for exchanging the selected rewards from the first reward account into rewards in the second reward account.

174. The computer of claim 173 wherein the means for exchanging the selected rewards from the first reward account into rewards in the second reward account performs such exchanges at a predetermined rate of exchange.

175. The computer of claim 174 wherein the means for exchanging the selected rewards from the first reward account into rewards in the second reward account at a predetermined rate of exchange comprises

means for decreasing the first reward account by the designated rewards;

and

means for increasing the second reward account by the corresponding rewards based on the predetermined rate of exchange.

176. The computer of claim 175 further comprising means for receiving consideration corresponding to the rewards decreased in the first reward account.

177. The computer of claim 175 wherein the second reward account represents a combined value of rewards exchanged into the second reward account.

178. The computer of claim 175 wherein the rewards represent an earned value with a cash equivalent or negotiable worth.

179. The computer of claim 175 further comprising means for recording the exchange of the designated rewards from the first reward account into the second reward account in a transaction log for a subsequent reconciliation process.

180. A method of operating an auction wherein accumulated rewards are redeemed for an item won in the auction comprising the steps of:

a) enabling a user to establish a reward exchange account on a trading server that is selectively interconnected over a network with a plurality of reward servers that each store a reward account maintained on behalf of the user and that track rewards earned by the user for transactions between the user and an associated reward issuing entity,

b) enabling the user to designate at least some of said earned rewards from one or more of said user'"'"'s reward accounts for trading into the reward exchange account,

c) the trading server accumulating the user'"'"'s designated earned rewards from said designated reward accounts into the reward exchange account associated with the user, and

d) enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item won in an auction.

181. The method of claim 180 wherein the step of enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item won in an auction comprises the steps of:

enabling the user to bid for an item from a merchant computer interconnected to the network, directing that the merchant computer provide the item to the user in exchange for consideration received from said trading server, and that the trading server reduce the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

182. The method of claim 181 in which the reduction in rewards in the user'"'"'s reward exchange account stored on the trading server is higher than rewards needed to pay for the requested item.

183. The method of claim 181 in which the purchase may be accomplished with a combination of rewards from the user'"'"'s reward exchange account stored on the trading server and other consideration.

184. The method of claim 183 wherein said other consideration is provided by the user.

185. The method of claim 180 wherein the step of enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item won in an auction comprises the steps of:

enabling the user to bid for an item being auctioned by linking from the trading server over the network to an associated merchant computer for providing the item to the user in exchange for consideration received from the trading server, and the trading server reducing the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

186. The method of claim 180 wherein the step of enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item won in an auction comprises the steps of:

enabling the user to bid for an item being auctioned from a list of products available from a merchant computer provided to the user by the trading server, directing that the merchant provide the item to the user in exchange for consideration received from the trading server, and that the trading server reduce the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

187. The method of claim 180 wherein the step of enabling the user to interact with the trading server to redeem accumulated rewards from the user'"'"'s reward exchange account for an item won in an auction comprises the steps of:

enabling the user to bid for an item being auctioned from a list of available items provided by the trading server to the user over the network, wherein the list of available items comprises identification of items available directly from the trading server, and the trading server reducing the rewards in the user'"'"'s reward exchange account in accordance with the item selected by the user.

188. An auction and reward accumulation and redemption system comprising:

a. a trading server selectively interconnected over a network to each of a plurality of reward servers associated with a reward issuing entity and comprising data storage means for storing a plurality of reward accounts associated with a user and configured to track rewards earned by the associated user for transactions between the associated user and the associated reward issuing entity,

i. wherein the trading server comprises data storage means for storing a plurality of reward exchange accounts, each of said reward exchange accounts associated with a user,

ii. wherein the trading server further comprises processing means adapted to enable a user to designate at least some rewards from one or more of reward accounts associated with the user for trading into the reward exchange account associated with the user;

iii. wherein the trading server further comprises;

1. means for accumulating the rewards designated by the user from each of said reward accounts associated with the user into the reward exchange account associated with the user, and

2. means for allowing the user to interact with the trading server to redeem accumulated rewards from the reward exchange account associated with the user for an item won in an auction;

whereby the reward accumulation and redemption system enables the selection of portions of available reward from selected reward accounts for accumulation into the user'"'"'s reward exchange account on the trading server.

189. A method of operating a reward accumulation and redemption program comprising the steps of:

a) enabling a user to designate at least some of a plurality of earned rewards from one or more of said user'"'"'s reward accounts stored on one or more reward servers associated with a reward issuing entity for exchange into a reward exchange account on a host computing device selectively interoperative with each reward server via a computing network,

b) accumulating the designated rewards from said reward accounts into the reward exchange account associated with the user, and

c) redeeming accumulated rewards from the user'"'"'s reward exchange account for use as consideration in a transaction.

190. The method of claim 189 in which the transaction comprises an item selected by the user in exchange for accumulated rewards from the user'"'"'s reward exchange account.

191. The method of claim 189 wherein the step of redeeming accumulated rewards from the user'"'"'s reward exchange account for use as consideration in a transaction is executed in a transaction with a merchant.

192. The method of claim 191 wherein the transaction further comprises using a card associated with the user'"'"'s reward exchange account and presented by the user to the merchant to link to the user'"'"'s reward exchange account in order to perform the step of redeeming accumulated rewards from the user'"'"'s reward exchange account.

193. The method of claim 192 wherein the card is a credit card.

194. The method of claim 192 wherein the card is a debit card.

195. The method of claim 192 wherein the card is a stored value card.

196. The method of claim 192 wherein the card is a smart card.

197. The method of claim 192 further comprising the step of using a credit card infrastructure with the card to link to the user'"'"'s reward exchange account.

198. The method of claim 197 wherein the credit card infrastructure comprises the host computing device with the reward exchange account.

199. The method of claim 189 wherein rewards from the user'"'"'s reward exchange account are used to completely pay for the item.

200. The method of claim 189 wherein rewards from the user'"'"'s reward exchange account are used to partially pay for the item.

201. The method of claim 200 wherein cash is also used to partially pay for the item in addition to the rewards.

202. The method of claim 200 wherein credit is also used to partially pay for the item in addition to the rewards.

203. The method of claim 189 further comprising the step of enabling the user to designate which rewards are redeemed from the reward account associated with the user.

204. The method of claim 189 further comprising the step of enabling the user to designate which accumulated rewards are redeemed from the user'"'"'s reward exchange account.

205. The method of claim 189 further comprising the step of accepting consideration from each reward issuing entity in exchange for the host computing device accumulating the user'"'"'s rewards from the reward account into the reward exchange account.

206. The method of claim 189 wherein the step of enabling the user to designate at least some of a plurality of earned rewards from one or more of said user reward accounts for exchange into the reward exchange account is performed by enabling a user to interface with the host computing device with a user-accessible computing device interconnected to the host computing device.

207. The method of claim 189 wherein the step of redeeming accumulated rewards from the user'"'"'s reward exchange account for use as consideration in a transaction is performed by enabling a user to interface with the host computing device with a user-accessible computing device interconnected to the host computing device.

208. A reward points accumulation and redemption system comprising:

a host computing device selectively interoperative with a plurality of reward servers via a computer network, each reward server associated with a reward issuing entity and comprising data storage means for storing a plurality of reward accounts associated with a user and configured to track rewards earned by the associated user for transactions between the associated user and the associated reward issuing entity;

i. wherein the host computing device comprises data storage means for storing a plurality of reward exchange accounts, each of said reward exchange accounts associated with a user;

ii. wherein the host computing device is configured to enable designation of at least some rewards from one or more of reward accounts associated with the user for exchange into the reward exchange account associated with the user;

iii. wherein the host computing device further comprises;

1. means for accumulating the rewards designated from each of said reward accounts associated with the user into the reward exchange account associated with the user, and

2. means for allowing interaction with the host computing device to redeem accumulated rewards from the reward exchange account associated with the user for use as consideration in a transaction.

209. The system of claim 208 further comprising:

means for a merchant to enter indicia from a card presented by a user, the card being associated with the user'"'"'s reward exchange account in order to redeem accumulated rewards from the user'"'"'s reward exchange account.

210. The system of claim 208 wherein the means for a merchant to enter indicia from a card presented by a user comprises means for a merchant to enter indicia from a credit card.

211. The system of claim 208 wherein the means for a merchant to enter indicia from a card presented by a user comprises means for a merchant to enter indicia from a debit card.

212. The system of claim 208 wherein the means for a merchant to enter indicia from a card presented by a user comprises means for a merchant to enter indicia from a stored value card.

213. The system of claim 208 wherein the means for a merchant to enter indicia from a card presented by a user comprises means for a merchant to enter indicia from a smart card.

214. The system of claim 208 wherein the means for a merchant to enter indicia from a card presented by a user is part of a credit card infrastructure.

215. The system of claim 214 wherein the host computing device is part of the credit card infrastructure.

216. The system of claim 208 further comprising means for interfacing with a user-accessible computing device interconnected to the host computing device for designating at least some of the earned rewards from one or more of said user reward accounts for exchange into the reward exchange account.

217. The system of claim 208 further comprising means for interfacing with a user-accessible computing device interconnected to the host computing device for redeeming accumulated rewards from the user'"'"'s reward exchange account for use as consideration in a transaction.

218. The system of claim 208 further comprising:

means for interfacing with a user-accessible computing device interconnected to the network for allowing a user to select an item for purchase by linking from the host computing device over the network to an associated merchant computer for providing the item to the user from the merchant computer in exchange for consideration received from said host computing device a merchant computer for providing the item to the user in exchange for consideration received from said host computing device, and means for reducing the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

219. The system of claim 208 further comprising:

means for interfacing with a user-accessible computing device interconnected to the network for allowing a user to select an item for purchase from a list of available items from a merchant computer over the network for providing the item to the user from the merchant computer in exchange for consideration received from said host computing device;

a merchant computer for providing the item to the user in exchange for consideration received from said host computing device, and means for reducing the rewards in the user'"'"'s reward exchange account in accordance with the consideration provided to the merchant computer.

220. The system of claim 208 further comprising means for interfacing with a user-accessible computing device interconnected to the network for allowing a user to interface with the host computing device and designate at least some of said earned rewards from one or more of said user reward point accounts for exchange into the reward exchange account.

221. The system of claim 208 further comprising means for interfacing with a user-accessible computing device interconnected to the network for allowing a user to interface with the host computing device to redeem accumulated rewards from the user'"'"'s reward exchange account.

222. A method of operating a reward accumulation and redemption program comprising the steps of:

a) enabling a user to select an item for purchase from a merchant with a combination of earned rewards obtained from a plurality of different reward accounts stored on different reward servers,

b) enabling the user to designate at least some of said earned rewards from the plurality of said user'"'"'s reward accounts for redemption for said item selected for purchase, and

e) combining the user'"'"'s designated earned rewards from each of said designated reward accounts for redemption for said item selected for purchase.

223. The method of claim 222 wherein each of said reward accounts is linked to a card associated with the user, and wherein the merchant uses each card associated with each reward account designated by the user for redemption for said item in order to access said designated rewards to redeem for said purchased item.

224. The method of claim 223 wherein at least one of said cards is a credit card.

225. The method of claim 223 wherein at least one of said cards is a debit card.

226. The method of claim 223 wherein at least one of said cards is a stored value card.

227. The method of claim 223 wherein at least one of said cards is a smart card.

228. The method of claim 223 in which the purchase may be accomplished with a combination of designated rewards from the user'"'"'s reward accounts and other consideration.

229. A method of operating a reward accumulation and redemption program comprising the steps of:

a) enabling a user to select an item for purchase from a merchant with a combination of rewards previously earned and tracked in two or more of a plurality of user reward accounts;

b) enabling the user to selectively designate a predetermined number of said earned rewards from each of at least two of said user'"'"'s reward accounts for redemption for said item selected for purchase, and

c) combining the user'"'"'s designated earned rewards for redemption for said item selected for purchase.

230. The method of claim 229 wherein the designated rewards are combined for redemption at a predetermined rate of exchange.

231. The method of claim 229 in which the steps of enabling a user to select an item for purchase from a merchant with a combination of earned rewards, enabling the user to designate at least some of said earned rewards from at least two of said user'"'"'s reward accounts for redemption for said item selected for purchase, and combining the user'"'"'s designated earned rewards for redemption for said item selected for purchase, are all executed via a web site accessible over a networked computer system by the user.

232. The method of claim 231 wherein the step of enabling a user to select an item for purchase from a merchant with a combination of earned rewards comprises the steps of:

generating an online catalog of a plurality of products available for purchase;

providing the online catalog for display to the user via the web site; and

enabling a user to select a desired product from the online catalog displayed via the web site.

233. The method of claim 231 wherein an available product is displayed in the online catalog along with the rewards required to purchase the product.

234. The method of claim 231 wherein an available product is displayed in the online catalog along with the rewards that may be applied to purchase the product.

235. The method of claim 234 wherein the purchase price exceeds the rewards that may be applied to purchase the product, and wherein the user is enabled to provide additional payment to enable a purchase transaction for the selected product on behalf of the user.

236. The method of claim 231 wherein the step of enabling a user to select an item for purchase from a merchant with a combination of earned rewards comprises the steps of:

providing links to associated merchant web sites that display products available for purchase;

enabling the user to link to an associated merchant web site; and

enabling the user to select an item for purchase from a merchant web site.

237. A reward accumulation and redemption system comprising:

a) means for enabling a user to select an item for purchase from a merchant with a combination of rewards previously earned and tracked in two or more of a plurality of user reward accounts;

b) means for enabling the user to selectively designate a predetermined number of said earned rewards from each of at least two of said user'"'"'s reward accounts for redemption for said item selected for purchase, and

e) means for combining the user'"'"'s designated earned rewards for redemption for said item selected for purchase.

238. The system of claim 237 wherein the designated rewards are combined for redemption at a predetermined rate of exchange.

239. The system of claim 237 in which the means for enabling a user to select an item for purchase from a merchant with a combination of earned rewards, the means for enabling the user to selectively designate a predetermined number of said earned rewards from each of at least two of said user'"'"'s reward accounts for redemption for said item selected for purchase, and the means for combining the user'"'"'s designated earned rewards for redemption for said item selected for purchase, all comprise a computer executing a web site accessible over a networked computer system by the user.

240. The system of claim 239 wherein the means for enabling a user to select an item for purchase from a merchant with a combination of earned rewards comprises:

means for generating an online catalog of a plurality of products available for purchase;

means for providing the online catalog for display to the user via the web site; and

means for enabling the user to select a desired product from the online catalog displayed via the web site.

241. The system of claim 240 wherein an available product is displayed in the online catalog along with the rewards required to purchase the product.

242. The system of claim 241 wherein an available product is displayed in the online catalog along with the rewards that may be applied to purchase the product.