IBM announced it is teaming with CEO America, Inc. by providing the computing capacity and integration services for a new service that allows consumers to earn cash credits for every retail purchase and redeem unused points and frequent flyer miles virtually anywhere.

Called “Creditz,” this service gives consumers a ubiquitous digital currency card that takes payments for anything from a luxury car to a postage stamp. In addition, with each of those payments the user earns Creditz that can be spent. Creditz will enable consumers to aggregate and exchange frequent flyer and retail buyer points for Creditz.

The retail industry faces challenges to adopt new technology because of high startup costs. IBM’s services help eliminate this barrier, because all of the required IT infrastructure can be supplied as needed, on a pay-per-use basis.

CEO America provides the Creditz system and IBM provides the security-enhanced infrastructure, integration services and computing capacity to make this program available to consumers and retailers as the service grows.

Comment: While possible competition to Points.com, our research doesn’t turn up any connection with frequent flyer programs to date and, despite what they may claim, we’ll have to see it work first. This “turnkey” solution might actually be a “turkey.”