Patent ID: 8423402

Claim:
A computer-implemented method for earning, exchanging and redeeming reward points comprising the steps of: a user earning a first set of reward points of a first type from a first reward issuing entity as a result of a first transaction executed between the user and the first reward issuing entity; a reward server computer associated with the first reward issuing entity storing the first set of reward points of the first type in a reward account on the reward server computer; a reward exchange computer storing in a reward exchange account a second set of reward points of a second type earned by the user as a result of a second transaction executed between the user and a second reward issuing entity which is different from the first reward issuing entity; the reward server computer providing a web page to a user computer, the web page comprising a control for initiating communication over a computer network between the reward server computer and the reward exchange computer; the reward server computer receiving from the user operating the user computer a selection of the control from the web page and, in response, initiating communication over the computer network with the reward exchange computer to exchange a quantity of reward points of the first type, designated by the user operating the user computer, from the reward account on the reward server computer into reward points of the second type for adding to the reward exchange account on the reward exchange computer by: decreasing the quantity of reward points of the first type designated by the user from the reward account on the reward server computer, causing the reward exchange computer to convert the quantity of reward points of the first type deceased from the reward account on the reward server computer into a corresponding amount of reward points of the second type at a predetermined reward server conversion rate, add the corresponding amount of reward points of the second type to the reward exchange account, and combine the corresponding amount of reward points of the second type added to the reward exchange account with the second set of reward points of the second type previously stored in the reward exchange account, and conveying consideration to the reward exchange computer, the consideration having a value equivalent to the quantity of reward points of the first type decreased from the reward account on the reward server computer; the user requesting the reward exchange computer to redeem at least some of the combined reward points of the second type from the reward exchange account for an item selected by the user; and the reward exchange computer redeeming the requested combined reward points of the second type from the reward exchange account by decreasing the reward exchange account by the combined reward points of the second type requested to be redeemed by the user for the item selected by the user.