You as the parent setup all the jobs/chores. You can set their frequency and their value. For example, I made each point worth ten cents. I pay 100 points for mowing the lawn (ten bucks). I pay 2 points for getting up to your alarm without assistance (20 cents) - this has worked like a charm by the way. Since I started this, I have only had to go in once to get one of the boys up.
You also get to set the rewards. The kids can save their points for money. They can share them and give money to a non-profit. And they can spend them. You can create rewards for them to spend their points on like more computer time, an ice cream cone, extra alone time with a parent, etc. Or you can put rewards on their from Amazon.com. So when my boys ask for something video games, Bey Blades, Legos, etc.), we put it as a reward on their job chart. Once they have the points, they can go in and redeem them. You will then get an email saying what your child wants. If it is a reward from Amazon, you can just click the link and order it.
It is a really easy system and it has worked well for us far! They even have an iPhone app (which is kind of lacking, but I am sure will improve). The boys like it too. They like feeling responsible having their login and earning their own rewards. I hope that they are also learning about working and saving. But for the time being, I am loving having my yard mowed, car cleaned, and floors cleaned.