MasterCard today enhanced its rewards capabilities for cardholders, giving them more ways to redeem, exchange and trade their rewards points.
These unique capabilities, unavailable to consumers that are members of current credit card-based rewards programs, will be delivered through a relationship between MasterCard and Points International Ltd. (TSX: PTS; NASDAQ: PCOM). Based on the popularity of travel and experiences, the enhanced rewards management and monetization options are expected to drive engagement and value to rewards programs offered by issuing banks participating in the MasterCard Rewards Platform.
“Consumers have said loudly and clearly that they want increased flexibility with their rewards,” said Nandan Mer, Group Executive, MasterCard Loyalty Solutions. “Our enhanced solution delivers just that – the ability to exchange, trade, buy and gift rewards points. We believe this truly unique and superior redemption experience delivers even more value to all involved.”
“While the financial services industry has been a keen focus for some time, we are especially excited to be partnering with a leading organization like MasterCard,” commented Rob MacLean, CEO, of Points. “Together, we are enhancing and differentiating issuer rewards programs hosted on the MasterCard Rewards Platform, and making them more attractive to consumers.”
Following the initial integration, it is anticipated that program functionality will be available later this year.