How can a consumer pay with various branded currencies?

Smart phones are increasingly prevalent for payment transactions. Electronic wallets (“wallets”) will be able to handle different currencies. These wallets will be able to handle a multitude of digital money, including a variety of branded currencies. The wallet can be linked to both checking accounts as well as market places. Wallets will be hosted centrally on a server or locally on a smart phone. The selection and default for any particular currency to be used in a particular transaction can be specified in the user settings and will be limited by the amount of available currency, respectively.