Abstract: Disclosed is a consumer-choice, incentive based, alternative payment method and advertising system. The system and method provides a highly efficient and effective means for advertisers to deliver video or other advertisements to a demographically and psychographically desirable audience. The system and method enables users to convert their time spent viewing and/or listening to user-selected advertisements at their convenience into payment rewards (e.g., credits) that may be exchanged for goods and services. Users may exchange these rewards for predetermined or not yet identified goods or services. Furthermore, the system and method tracks, logs, and reports user usage and related statistics.