SaveDaily.com a Californian Web-based micro-savings and investment solutions provider has formed a new company to enable consumers to convert loyalty points and Internet cash into investment products. The company, eSolis, will enable Internet currency conversions, allowing companies to convert their respective currencies into mutual funds for their members.
"This represents a quantum leap in our efforts to make our micro-investing savings model ubiquitous across the Internet," says Eric Solis, SaveDaily.com founder and president.
According to Solis, two of the first Internet businesses that will take advantage of the by-invitation-only suite of eSolis products are beenz.com and milesource.com, an e-commerce portal that rewards customers with free airline miles, gift certificates and more for shopping at participating companies.
SaveDaily customers are rewarded for shopping at participating online merchants with rebates that are paid directly into an investment account. The company uses technology provided by DST to allow its customers to open, maintain and establish savings and investment accounts online.