Abstract: Systems and methods are disclosed for generating monetary currency using a mobile communications device for immediate use for the purchase of items, wherein the monetary currency comprises a credit instrument or a credit associated with a credit or debit card, the credit is valid for a defined period of time, and the credit is generated from converting non-monetary reward currency into monetary currency. The system and method are implemented by accessing a currency software module operating on the mobile communications device, which facilitates account log-in, entry of an item purchase amount and user selection of a loyalty program from which non-monetary currency can be redeemed and converted to monetary currency. The mobile communications device receives the credit from a payment provider server, typically via a currency server.