MasterCard Teams With Points International to Offer Cardholders Enhanced Rewards
Issuing Banks Gain Opportunities to Deliver Greater Flexibility to Consumers Through Exchange and Trade of Airline Miles, Hotel Points and Other Loyalty Currencies
MasterCard (NYSE:MA) today enhanced its rewards capabilities for cardholders, giving them more ways to redeem, exchange and trade their rewards points.
These unique capabilities, unavailable to consumers that are members of current credit card-based rewards programs, will be delivered through a relationship between MasterCard and Points International Ltd. (TSX:PTS) (Nasdaq:PCOM). Based on the popularity of travel and experiences, the enhanced rewards management and monetization options are expected to drive engagement and value to rewards programs offered by issuing banks participating in the MasterCard Rewards Platform.
"Consumers have said loudly and clearly that they want increased flexibility with their rewards," said Nandan Mer, Group Executive, MasterCard Loyalty Solutions. "Our enhanced solution delivers just that - the ability to exchange, trade, buy and gift rewards points. We believe this truly unique and superior redemption experience delivers even more value to all involved."
"While the financial services industry has been a keen focus for some time, we are especially excited to be partnering with a leading organization like MasterCard," commented Rob MacLean, Chief Executive Officer, of Points. "Together, we are enhancing and differentiating issuer rewards programs hosted on the MasterCard Rewards Platform and making them more attractive to consumers."
Following the initial integration, it is anticipated that program functionality will be available later this year.
Points, publicly traded as Points International Ltd. (TSX:PTS)(Nasdaq:PCOM), provides loyalty eCommerce and technology solutions to the world's top brands to power innovative services that drive increased loyalty program revenue and member engagement. With a growing network of over 50 global loyalty programs integrated into its unique Loyalty Commerce Platform, Points offers three core private or co-branded services: its Buy Gift and Transfer service retails loyalty points and miles directly to consumers; its Points Loyalty Wallet service offers any developer transactional access to dozens of loyalty programs and their hundreds of millions of members via a package of APIs; and its Points Travel service helps loyalty programs increase program revenue from hotel bookings, and provides more opportunities for members to earn and redeem loyalty rewards more quickly. Points is headquartered in Toronto with offices in San Francisco and London.
MasterCard (NYSE:MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world's fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard's products and solutions make everyday commerce activities - such as shopping, traveling, running a business and managing finances - easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.