Patent ID: 7003495

Claim:
A method, comprising steps of: (A) storing at least first account information for a first media issued by a first media issuer and second account information for a second media issued by a second media issuer in a database in communication with a transfer server so that the first account information and the second account information exist simultaneously in the database; (B) establishing a communication link via a non-dedicated public communications channel between a controller associated with the database and a portable electronic device distinct and remotely located from the database, and transferring at least the first account information and the second account information from the database to a memory of the portable electronic device via the communication link so that at least the first account information and the second account information are caused to exist simultaneously in the memory of the portable electronic device; (C) transporting the portable electronic device to a vicinity of a first point-of-sale (POS) terminal; (D) when the portable electronic device is in the vicinity of the first POS terminal, manipulating a user input of the portable electronic device to select the first media for use in a first transaction at the first POS terminal; (E1) causing a token attached to the portable electronic device to embody at least a portion of the first account information; (E2) after performing the step (E1), detaching the token from the portable electronic device, with the token continuing to embody at least the portion of the first account information after the token has been detached from the portable electronic device; (E3) after performing the step (E2), and when the token is still detached from the portable electronic device, interfacing the token with the first POS terminal and transferring at least the portion of the first account information from the token to the first POS terminal; (E4) after performing the step (E3), reattaching the token to the portable electronic device; (F) transporting the portable electronic device to a vicinity of a second POS terminal; (G) when the portable electronic device is in the vicinity of the second POS terminal, manipulating the user input on the portable electronic device to select the second media for use in a second transaction at the second POS terminal; (H1) causing the token to embody at least a portion of the second account information; (H2) after performing the step (H1), detaching the token from the portable electronic device, with the token continuing to embody at least the portion of the second account information after the token has been detached from the portable electronic device; (H3) after performing the step (H2), and when the token is still detached from the portable electronic device, interfacing the token with the second POS terminal and transferring at least the portion of the second account information from the token to the second POS terminal; and (H4) after performing the step (H3), re-attaching the token to the portable electronic device.