On-line credit redemption system and method

A method for implementing an on-line shopping program, the method comprising:

• (a) allocating an amount of credit available to a user;
• (b) selecting at least one predetermined vendor from whom the user is permitted to make purchases with the credit;
• (c) providing the user with computer access to at least a portion of the contents of the vendor's on-line documents containing a description and pricing information of at least one item from the vendor;
• (d) establishing a correspondence between a unit of the credit and a unit of a currency in which the vendor's item is priced if the two units are different from each other;
• (e) at least partially funding a payment account associated with the user with an amount corresponding to at least a portion of the allocated credit amount according to any correspondence established in step (c);
• (f) after the user confirms a purchase including the first vendor's item, sending a sufficient payment from the payment account to the vendor for the purchase;
• and
• (g) deducting the amount of credit available to the user by the portion in step (d).

A method of for implementing an on-line shopping program for a sponsor of the program, the method comprising:

• (a) permitting the sponsor to select a plurality of vendors;
• (b) allocating an amount of credit available to each of a plurality of users of the program;
• and
• (c) for each vender and each user:
• (i) providing the user with computer access to at least a portion of the vendors' on-line documents containing a description and pricing information of items sold by the vendor;
• (ii) establishing a correspondence between a unit of the credit and a unit of a currency in which the vendor's item is priced if the two units are different from each other;
• (iii) at least partially funding a payment account associated with the user with an amount corresponding to at least a portion of the allocated credit amount according to any correspondence established in step (ii);
• (iv) after the user confirms a purchase including the first vendor's item, sending a sufficient payment from the payment account to the vendor for the purchase;
• and
• (v) deducting the amount of credit available to the user by the portion in step (iii).