Randy Petersen Exectuve Travel Summit Wrap-Up: Loyalty Session Part 3-PointsPay
Loyalty Session Part 1: Swift Exchange
Loyalty Session Part 2: American Express
Loyalty Session Part 3: Points Pay
Loyalty Session Part 4: American Airlines
Loyalty Session Part 5: Loyalty Debate
Hotel Session: What issues keep you up at night?
“People use their miles to visit Australia, but they also use them to visit Grandma.” For Points Pay, it’s all about the fact that airline and hotels removing value by cutting back on the costs of their loyalty programs.
However, today’s customers are savvy with technology, and expect to receive something that conveys worth. PointsPay makes this possible by allowing customers to pool from miles and points, as a form of payment, at “any time, anywhere:” (Interesting Video)
Thus, PointsPay enables airline and hotel programs to provide loyalty beyond their own program, by letting customers turn their miles and points into hard, cold cash.
LEVEL OF TRANSPARENCY:
This concept of full, fixed transparency where the customer ultimately determines the value of a mile or point contrasts American Express’s modus operandi of intimate, controlled transparency.
Yet it should be noted that this model is still distinct from Swift Exchange. Whereas points are the final form of payment in the case of Swift Exchange, in this instance they transferred into an equivalent form of cash before being utilized.
I think other travel bloggers would agree with me in saying that converting points to cash is generally not a good idea, especially if you value aspirational awards you couldn’t afford otherwise. That said, you should let your miles work for you, not the other way around. So if it meets your needs to buy that McDonald’s cheeseburger using points, go right ahead.
Then again, what am I going to do with those Spirit Airlines miles?