Abstract: A method and system for making purchase payment transactions with merchants, using virtual (eg: points-based) currencies issued by parties other than that of the merchant. Specifically, this invention is a payment network that processes payment instructions across multiple merchants, the payments being made with virtual currency (ie: private, non-sovereign currency, such as loyalty points and social network credits) issued by multiple virtual currency programs (eg: as those from airline, hotel, credit card, social media and gaming companies).