Provided is a method for distribution, allocation, redemption and recycling of bonus points that enables retailers, distributors and wholesalers to offer immediate awards to customers and each other. One implementation employs a medium to store information that can be scanned by a device such as a scan gun, a credit card authentication machine, cash register, swipe telephone, numeric pad or wireless receiver, all of which can be connected to a centralized or distributed data storage via the Internet, telephone lines or wireless communication media. Alternative devices for implementing the system are a coupon, key fob, either wireless or imprinted, or participation information. The card, fob or participation information is scanned or inputted manually or via electronic signal or radio frequency along with the product or service purchased. Point providers determine the number of award points given for a particular product and a user receives instant credit for the points.