Patent ID: 8478640

Claim:
A method of operating a reward exchange computer comprising the steps of a reward exchange computer determining, by accessing a plurality of reward server computers, reward points previously stored on behalf of a user in each of a plurality of reward accounts, each of the plurality of reward accounts stored on a different one of the plurality of reward server computers, each of the plurality of reward server computers associated with a different one of a plurality of reward issuing entities; the reward exchange computer transmitting to a user computing device (i) a display of the reward points determined to be previously stored in each of the plurality of reward accounts and (ii) computer-based controls for a user via the user computing device to designate a quantity of the reward points from at least one of the plurality of reward accounts for exchange into a reward exchange account stored on the reward exchange computer; the reward exchange computer receiving instructions from the user operating the user computing device that designate the reward points from at least one reward account to be exchanged into the reward exchange account; the reward exchange computer exchanging, in real time response to receiving the instructions, the designated reward points from the at least one reward account into the reward exchange account by causing the reward server computer on which the at least one 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; the reward exchange computer receiving a payment request from a merchant computer for payment for a transaction with the user, the payment request including information for a portable token linked to the reward exchange account and presented by the user to the merchant computer for payment in the transaction, and the reward exchange computer, in response to the payment request, redeeming reward points from the reward exchange account and sending consideration to the merchant computer in response to the payment request.