Mobile wallet to convert loyalty points to cash

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PointsPay, a company that offers a mobile wallet and payments for loyalty programs, has launched its PointsPay mobile app, a mobile-based wallet for redeeming loyalty points and miles at the POS.

Part of Loylogic, a leader in loyalty e-commerce and e-payments solutions, PointsPay ‘is set to change the way loyalty program members redeem their points, by giving them the option to convert points or miles into more than 150 currencies, to spend in-store or online at over 30 million merchants worldwide’.

‘Millions of consumers participate in multiple loyalty programs, but struggle with lack of options and choice when it comes to redeeming and spending their hard-earned rewards. The ideal scenario is a loyalty solution that allows them to convert their points or miles into any currency, and to use that currency however they want,’ explains Dominic Hofer, CEO of Loylogic and PointsPay. ‘PointsPay addresses this need on behalf of loyalty programs and their millions of members.’

Members of participating loyalty programs can load their points or miles via the PointsPay mobile app, which can be downloaded from iTunes, on to a PointsPay prepaid Visa or MasterCard plastic card or a virtual card. The mobile wallet features a two-step payment process. Members can select an amount to load onto their virtual or prepaid card, and pay as if using cash, choosing from over 150 currencies, making PointsPay a truly global payment option.

‘What is truly unique about our offering is that the points and miles are suddenly following loyalty program members rather than members having to chase their points to where they can be redeemed. We have flipped the traditional redemption model on its head,” Hofer adds. ‘Ultimately, PointsPay is creating a way for consumers to turn their loyalty into liquid currency, instantly, easily and securely, with the freedom of spending those loyalty points or miles in any way they choose, anywhere in the world.’