Multi-Party Transactions with Static and/or Dynamic Rules Management Mediated by One or More NFC-Enabled Devices

Virtual money, in electronic form, with dynamically programmable characteristics other than value for controlling the pay out and use of the stored value are provided. A computational platform, such as but not limited to an NFC-enabled mobile device, can receive and distribute virtual money in accordance with the rules and constraints supplied by the issuer of the value stored in the NFC-enabled mobile device. The rules and constraints can be dynamically changed by the issuer prior to the payout from the NFC-enabled mobile device. Pay outs from the NFC-enabled mobile device further include rules that constrain or define the use of the paid out value.