Etihad & PointsPay turn 148m points into cash
PointsPay, the global mobile wallet and mobile payment solution operated by LoyLogic, was launched in October 2012 together with the company's launch partner, Etihad Airways, allowing loyal frequent travellers to converts virtual currencies - such as loyalty miles and points - into over 150 currencies to make payments at over 30 million merchants worldwide.
During its first month, PointsPay was used at over 1,200 different merchants worldwide including Amazon, Apple, Best Buy, eBay, FedEx, Groupon, Hotels.com, Macy's, Netflix, Skype, Snapfish, Shell, Spotify, Tesco, Vodafone, and Victoria's Secret. Purchase categories included energy, electronics, fast food, sports, telecom, travel, grocery, department stores and charities.
In fact, during that period, PointsPay showed a rapid increase in user adoption. For example:
- 2.6% of the active programme members registered;
- 148 million points were loaded onto prepaid cards (and this figure is growing at 47% monthly);
- 3,400 prepaid cards were issued during the month;
- 24% of those transactions were carried out in merchants' stores;
- 83% of members still held a positive loyalty points account balance after making a PointsPay transaction.
PointsPay has also achieved good global coverage, with members having used the mobile wallet across all continents, and having redeemed points for prepaid credit in 62 countries and 450 cities, including Abu Dhabi, Alexandria, Amsterdam, Bangkok, Berlin, Cairo, Cape Town, Doha, Dublin, Hong Kong, Istanbul, Jakarta, Kathmandu, Kuala Lumpur, Lagos, London, Luxembourg, Manila, Montreal, Moscow, Mumbai, New York, Oslo, Paris, Riyadh, Sao Paulo, San Francisco, Seoul, Singapore, Sydney, Tokyo, Zurich.
According to Dominic Hofer, founder and CEO for LoyLogic and PointsPay, "We brought our mobile technology to market in response to a decade-old need of loyalty programme members worldwide: to redeem miles and points, whenever and wherever they want to."
After the platform's successful launch, PointsPay will now focus on partnering with well-known loyalty programmes throughout North America, Europe and Asia. Over the next few months, PointsPay will roll out more new features, with the next update planned before the end of 2012.
"From the initial reactions of programme managers, we expect PointsPay to play a key role in driving global member engagement and programme revenues as members experience maximum freedom to redeem their miles and points at more than 30 million merchants worldwide," Hofer concluded.