This innovative solution converts virtual currency, such as miles and points, into over 150 global currencies for use as payment at over 30 million merchants worldwide.
In the first month since public launch, PointsPay shows a rapid upswing of user adoption:
- 2.6% of the active program members registered
- 148,000,000 points loaded (growing at 47% monthly)
- 3,400 prepaid cards issued
- 24% of transactions carried out at merchants in store
- 83% of members remain with a positive points account balance after a transaction
PointsPay was used at over 1,200 different merchants worldwide including leading names such as Amazon, Apple, Best Buy, eBay, FedEx, Groupon, Hotels.com, Macy’s, Netflix, Skype, Snapfish, Shell, Spotify, Tesco, Vodafone, Victoria’s Secret. Purchase categories included energy, electronics, fast food, sports, telecom, travel, grocery, department stores and charities.
In addition, PointsPay has already achieved strong global coverage. Members have used the mobile wallet across all continents and redeemed in 62 countries and 450 cities including Abu Dhabi, Alexandria, Amsterdam, Bangkok, Berlin, Cairo, Cape Town, Doha, Dublin, Hong Kong, Istanbul, Jakarta, Kathmandu, Kuala Lumpur, Lagos, London, Luxembourg, Manila, Montreal, Moscow, Mumbai, New York, Oslo, Paris, Riyadh, Sao Paulo, San Francisco, Seoul, Singapore, Sydney, Tokyo, Zurich and also in lesser-known locations such as County Loth, Etten-Leur, Hoofddorp, Pskov or Wollongong.
“PointsPay shows the dream growth curves that every new business venture strives for,” said Dominic Hofer, Founder and CEO of Loylogic and PointsPay. “We brought a disruptive mobile technology to market and a solution that responds to a decade-old need of loyalty program members worldwide: redeeming miles and points whenever and wherever. After investing two years in developing PointsPay, we are very pleased with the takeoff.”
After the successful launch, PointsPay is now focused on partnering with well-known loyalty programs in North America, Europe and Asia. “From the initial reactions of program managers, we expect PointsPay to play a key role in driving global member engagement and program revenues as members experience maximum freedom to redeem their miles and points at more than 30 million merchants worldwide,” Dominic Hofer continued.
Over the next few months, PointsPay will roll out more new and exciting features, with the next update planned before the end of the year.
Part of Loylogic, a leader in loyalty e-commerce and e-payment solutions, PointsPay empowers members of participating loyalty programs to convert points and miles to a prepaid Visa or MasterCard for payment in over 150 currencies at over 30 million online and in store merchants worldwide. For more information, please visit www.pointspay.com.