Issuers participating in the MasterCard Rewards Platform can pursue greater engagement and value in their programs through a partnership MasterCard is announcing today with Points International Ltd. The companies say they struck the deal to take advantage of the popularity of travel and related experiences. Under the agreement, participating issuers can let their cardholders to exchange and trade earned airline miles, hotel points and loyalty currencies.
Travel happens to be one of the most popular redemption options for points on most programs today. So this is really about enabling consumers to get even more choice with regard to getting some redemption options.
Issuers individually will roll out the program later this year based on their own schedules. Any of the hundreds of banks that use the MasterCard Rewards Platform are eligible to participate. Participation is voluntary.
Enhanced flexibility in cardholder reward redemptions was a key driver behind the initiative, what this partnership allows to do is enable all customers that have points that they’ve gained from spending on their credit cards or debit cards to then exchange those points into a miles program or a hotel program that they tend to always have a lot of other points accumulated already.
Variable Exchange Rates
Cardholders will be provided with a conversation ratio applicable to the pair of rewards being exchanged. Ratios will differ by redemption transaction. Consumers also may choose to transfer small buckets of rewards points into one program and the rest in other programs. They can do transfers multiple times and across multiple rewards providers.
