Abstract: A system for administering a purchase-based reward system, having an administering entity, memberships issued by the entity to members, merchants participating in the system, and a monetary trustee account. When a member makes a purchase through a participating merchant, a monetary value based on the purchase is debited from the merchant and credited to the trustee account. The member making the purchase is credited with reward points based on the purchase, and the reward points are redeemable based on a corresponding value drawn from the trustee account.