Patent ID: 7340439

Claim:
A system that is capable of being used to engage in a transaction at a point of sale, comprising: a token, for use in a transaction at a point of sale, comprising: a substrate; a rewriteable memory, supported by the substrate, that is capable of being selectively configured to store information on the token comprising data that identifies an account that is to be used to engage in the transaction at the point of sale, the substrate and memory being configured and arranged such that the substrate is capable of being selectively interfaced with a sales transaction device at the point of sale to permit the sales transaction device to read the data from the memory; and a reconfigurable display, supported by the substrate, that is configured to display at least some of the information that is stored in the rewritable memory; and a portable electronic device to which the token is releasably attached, the portable electronic device being configured to, while in a vicinity of the point of sale, cause the rewritable memory of the token to store the information and cause the display of the token to display the at least some of the information at least during a period of time immediately after the token has been detached from the portable electronic device, wherein the portable electronic device to which the token is releasably attached comprises a memory that stores at least first information comprising first data that identifies a first account and second information comprising second data that identifies a second account, and a user input that permits the user to select one of the first information and second information for use in the transaction, wherein the portable electronic device is further configured to cause the rewritable memory of the token to store the selected one of the first information and second information and to cause the display of the token to display at least some of the selected one of the first information and second information, and wherein the first information and second information correspond to accounts the user holds with respective first and second unrelated media issuers.