Using currency to purchase from sellers that do not recognize the currency

A computer-readable medium carrying one or more sequences of one or more instructions for processing a transaction, the one or more sequences of one or more instructions including instructions which, when executed by one or more processors, cause the one or more processors to perform the steps of:

• receive, from a first participant in the transaction, a request to process the transaction using a first currency that is not recognized by a second participant in the transaction;
• in response to receiving the request from the first participant,
• decrement an amount of the first currency associated with the first participant, and
• increment an amount of second currency associated with the first participant, wherein the second currency is recognized by the second participant;
• and
• process the transaction using the amount of second currency associated with the first participant.

An apparatus for processing a transaction, the apparatus comprising:

• an input/output mechanism configured to receive, from a first participant in the transaction, a request to process the transaction using a first currency that is not recognized by a second participant in the transaction;
• and
• a transaction processor communicatively coupled to the input/output mechanism and configured to
• in response to receiving the request from the first participant,
• decrement an amount of the first currency associated with the first participant, and
• increment an amount of second currency associated with the first participant, wherein the second currency is recognized by the second participant, and
• processing the transaction using the amount of second currency associated with the first participant.

A method for allowing a user to use private currency provided by a particular entity to make purchases from a vendor that does not recognize the private currency, the method comprising the steps of:

• establishing a first account and a second account for the user;
• wherein the first account indicates an amount of the private currency;
• wherein the second account indicates an amount for a type of currency that is recognized by the vendor;
• the user expressing an interest in making a purchase from the vendor;
• based on an exchange formula, decrementing the amount in the first account and incrementing the amount in the second account;
• and
• using currency from the second account to pay for at least part of the purchase.

A computer-readable medium carrying one or more sequences of one or more instructions for allowing a user to use private currency provided by a particular entity to make purchases from a vendor that does not recognize the private currency, the one or more sequences of one or more instructions including instructions which, when executed by one or more processors, cause the one or more processors to perform the steps of:

• establish a first account and a second account for the user;
• wherein the first account indicates an amount of the private currency;
• wherein the second account indicates an amount for a type of currency that is recognized by the vendor;
• the user expressing an interest in making a purchase from the vendor;
• based on an exchange formula, decrement the amount in the first account and incrementing the amount in the second account;
• and
• use currency from the second account to pay for at least part of the purchase.