Points Announces Long-Term Agreement With United Airlines MileagePlus
- United Airlines MileagePlus joins Points' Partner Network via a multi-year, multi-product agreement
- Points to power United Airlines' Buy, Gift and Transfer program and Reinstate Miles
- Points to acquire assets of Crew Marketing, a long-time MileagePlus vendor
Points (TSX:PTS) (Nasdaq:PCOM), the global leader in loyalty currency management, announced today that the Company has entered into a new long-term principal relationship with United Airlines' subsidiary MileagePlus. Points has entered into a long-term agreement with United Airlines MileagePlus to power its Buy, Gift and Transfer and Reinstate Miles, and several other ancillary products available to MileagePlus members. All programs are immediately available to MileagePlus members.
United MileagePlus is one of the largest and most recognized loyalty programs in the world and we are thrilled to welcome their 95 million worldwide members to our platform. Our partnership with United Airlines MileagePlus reflects the broadest and most comprehensive strategic relationship in our history. We have been extremely impressed with the innovative approach to loyalty that MileagePlus has consistently demonstrated and are very excited to be working with such a creative and focused team to continue to bring new and exciting concepts to market.
In conjunction with this announcement, Points acquired substantially all of the assets of Crew Marketing International, Inc., a long-time MileagePlus vendor. Further details will be provided in a separate release.
Mr. MacLean continued, "We expect a seamless transition of the core Buy, Gift and Transfer products to our Loyalty Commerce Platform in the first quarter of 2015. We also look forward to leveraging our Loyalty Commerce Platform, and Crew's innovative technology and commercial applications to power additional loyalty commerce solutions."
"With over 200 products in market with over 50 global loyalty partners, the Points Loyalty Commerce Platform is among the most respected worldwide. On the heels of today's United MileagePlus announcement, Points will have announced or launched over 40 products and added 9 new partners to our Loyalty Commerce Platform since the beginning of 2014. This substantial progress aside, the global loyalty market continues to provide significant runway for future growth. Continuing to add new partners, enhancing relationships with existing partners, and driving further innovation and engagement throughout the broader loyalty industry are expected to be core drivers of our future growth," concluded MacLean.
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.
Caution Regarding Forward-Looking Statements
This press release contains or incorporates forward-looking statements within the meaning of United States securities legislation, and forward-looking information within the meaning of Canadian securities legislation (collectively "forward-looking statements"). These forward-looking statements include, among other things, future growth opportunities. These statements are not historical facts but instead represent only Points' expectations, estimates and projections regarding future events.
Although Points believes the expectations reflected in such forward-looking statements are reasonable, such statements are not guarantees of future performance and are subject to important risks and uncertainties that are difficult to predict. Certain material assumptions or estimates are applied in making forward-looking statements, and actual results may differ materially from those expressed or implied in such statements. Undue reliance should not be placed on such statements. In particular, the financial outlooks herein assume Points will be able to maintain its existing contractual relationships and products, that such products continue to perform in a manner consistent with Points' past experience, that Points will be able to generate new business from our pipeline at expected margins, our in-market and newly launched products and services will perform in a manner consistent with the Company's past experience and we will be able to contain costs. Our ability to convert our pipeline of prospective partners and product launches is subject to significant risk and there can be no assurance that we will launch new partners or new products with existing partners as expected or planned nor can there be any assurance that Points will be successful in maintaining its existing contractual relationships or maintaining existing products with existing partners. Other important risk factors that could cause actual results to differ materially include the risk factors discussed in Points' annual information form, Form-40-F, annual and interim management's discussion and analysis, and annual and interim financial statements and the notes thereto. These documents are available at www.sedar.com and www.sec.gov.
The forward-looking statements contained in this press release are made as at the date of this release and, accordingly, are subject to change after such date. Except as required by law, Points does not undertake any obligation to update or revise any forward-looking statements made or incorporated in this press release, whether as a result of new information, future events or otherwise.