A system and method of communications usage management for multiple networked devices such as cellular telephones in a telecommunications network. A management database is provided for storing communications attributes for at least one networked device. The stored communications usage attributes serve as criteria for regulating access of the networked devices to the system. The users of the devices may purchase a quantity of transferable units, such as usage minutes over the system network, with the units being redeemable for goods and/or services on the system, thus facilitating transfer of units between users. A user interface is provided as a system management device for accessing the management database to configure the communications usage attributes for defining the transfer and usage criteria. Communications usage software operable with the network devices computes usage times to provide an accounting of usage and regulation in accordance with the management database. In the described embodiment, short message service (SMS) traffic is used for messages between networked devices used by several users to purchase quantities of redeemable units for exchange, commercial activities, or recreation which may be facilitated through the system operator.