Vesdia turns loyalty points into life savings
The microinvestments programme provider, Vesdia Corporation, has partnered with Points International - the operator of The Points Exchange - in a multi-year agreement to allow airline, hotel, and retailer loyalty points to be converted into cash for savings and investment accounts.
Traditionally, through Vesdia's microinvesting programmes, BabyMint (college savings) and NestEggz (retirement savings), individual investors receive up to a 20% rebate whenever they shop via the programme's network of more than 500 merchants and retail outlets. Vesdia tracks the transaction from the point of purchase and deposits merchant rebates directly into the participant's designated savings account.
But through the new partnership, participants now have the ability to use The Points Exchange to convert miles or points from a range of rewards programmes (including America West Airlines, Midwest Airlines, Alaska Airlines, Cathay Pacific, and InterContinental Hotels) into cash for their existing BabyMint or NestEggz savings plan.
"This partnership creates an exceptional enhancement for our BabyMint and NestEggz programmes - a new and unique way for our participants to work toward the achievement of their financial goals and dreams," said Peter Davis, CEO for Vesdia Corporation. "Our work with Points International has the potential to unlock, collectively, millions of dollars in assets for individuals with dormant miles or points."