Token Management System and Method

A method for managing tokens is provided that is useful for offering and redeeming rebates on product purchases. A purchaser receives an unactivated token having a unique token identifier. The purchaser undertakes a first purchase transaction using a transaction system. The token identifier is recorded by the transaction system along with the transaction details, including any products for which a rebate is offered. The purchaser receives a receipt for the transaction including a transaction identifier. The purchaser accesses, for example, a home computer, to provide the transaction identifier and the token identifier to a token qualifying system. The token qualifying system analyzes the purchaser information, rebate criteria and transaction information received from the transaction system to qualify a purchase for a rebate. When qualified, the token qualifying system sends an indication to a token accounting system to activate the token by funding a token account. The purchaser may then use the token for a second purchase transaction.