A transaction handling system and associated method are described for handling transactions based on a plurality of rule sets that apply to point sets (where the point sets contain points that can be consumed for goods and services, or have some other end-use connotation). Namely, the rule sets can be associated with respective point lots to define the characteristics and behavior of the respective point lots. For example, one rule in an applied rule set can determine whether a consumer is permitted to make a purchase without having sufficient points in the consumer's point lot, thus incurring a negative balance in the point lot. Another rule (e.g., a sandbox rule) can determine whether the consumer is permitted to use points only within a limited identified environment, or whether the consumer can use the points in any environment. An override rule set can override a default rule set on an individual account basis or on an individual consumer basis. Upon a transaction that affects a point lot, the transaction handling system can log the transaction in a record that is associated with the point lot.