Exchanging Miles For Money : A Success Story

What's Next In Payments®
2:34 PM EST February 3rd, 2013

PointsPay, the mobile wallet that lets you exchange loyalty points and miles into money has announced its PointsPay app has been updated. The key feature of this new consumer interface is the ‘Quickloader’ process, enabling users to load points onto a PointsPay virtual or plastic card with only two clicks.

The company used the announcement to report on its numbers, since being launched three months ago. The company’s gamble seems to have been worth it, as PointsPay cards have been used at over 1,300 locations in more than 70 countries. Moreover, over 260 million points have been loaded since the launch. Users have made purchases online paying electricity bills, shopping at Amazon or downloading music on iTunes.

In-store transactions have also experienced steadily increase, already making up over 35% of all purchases. In store PointsPay users have used points to pay for groceries, dinners at restaurants and new pairs of shoes.

The success of the PointsPay mobile wallet confirms the findings of a recent study published by Comscore (comscore.com/MobileMoney). According to the report, 52% of consumers want to be able to use a digital wallet both online, through a browser or mobile app, and at a physical store. PointsPay, available as an app and on the web, is seeing the same behavior.

“What PointsPay offers today is exactly what wallet providers like Google Wallet or PayPal are targeting to offer in the future: a simple and secure payment wallet that allows their user to pay anytime, online and in store at over 32 million points of sale around the world. It is simply amazing!,” noted Luca Paioni, Head of Product Development for PointsPay.

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