1. A method of operating a reward points system in conjunction with a network, the network interconnecting with a plurality of merchants and at least one acquiring bank for processing credit card transactions, the method comprising the steps of: a. a user executing a purchase transaction with a merchant; b. the user presenting a token during the purchase transaction, the token having a user identification associated therewith; c. the merchant providing purchase transaction information to the acquiring bank via the network to enable the acquiring bank to add reward points to a merchant reward point account associated with the merchant and the user.