Patent ID: 7337949

Claim:
A method for providing a payment mode for services, comprising the steps of: (a) providing service specific payment modes, each payment mode possessing a substantially unique identifier and representing an initial value to be remitted for use of a desired service, each said payment mode configured to be valid for incremental quantity of services at any one of a plurality of service providers; and (b) enabling a variable rate redemption of the payment mode for service provided by one of the plurality of service providers, by: allowing a user to select one of the service providers among the plurality of service providers for redemption in exchange for a unit use of a desired service from said selected service provider; at the selected service provider, debiting a price set by the selected service provider for the desired service, wherein price debited for said service by at least certain of said service providers being able to be different from price debited by others of said service providers for similar service, such that the payment mode is redeemable at a variable rate among the plurality of service providers for similar service; and effecting payment at the price debited for said service by said selected service provider.