A value management system which facilitates substantially real-time exchange of loyalty value during transactions. The value management system includes an exchange computer for acting as an intermediary between a loyalty member computer and a loyalty system on behalf of a loyalty member. The exchange computer is for storing login information of the loyalty member, for accessing a loyalty account of the loyalty member within the loyalty system using the login information, for determining a loyalty value associated with the loyalty account, for performing a transaction with the loyalty member involving a change in the loyalty value in exchange for other value, and for charging a fee from the loyalty member in return for the transaction.