A system and method for securely downloading music or other audio or video media in digital format ("Digital Download Media") from one or more merchants, comprising an encoded plastic magnetic-type information card having an account or access number and other identification and access data encoded, embossed, or printed on the card and a centralized computer system that receives the encoded, embossed, or printed data and allows the cardholder to access and download via internet transmission the Digital Download Media from the centralized computer system. In another embodiment of the invention, a digital electronic chip is encased within the plastic card (a smart card chip) that securely contains the encrypted account or access number and other identification and access data used by the system for the securely downloading the Digital Downloading Media from one or more merchants. Also part of the method, consumers are given access to their respective remaining Digital Download Media values by internet access to the centralized computer system. In a further embodiment of the invention, consumers can, using point-of-sale terminal card-reading devices at multiple merchants, purchase additional units allowing the downloading of additional Digital Downloading Media corresponding to the amount loaded on the plastic card at the merchants' point-of-sale terminals.