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Frequent flyer miles don’t go very far these days, and you’ve got to spend like a mad man to earn them. Frequent black out dates, small print rules, and simple overabundance of accumulated miles with no seats to match basically means your miles are worth peanuts. Enter LoyaltyMatch. This e-swapping site lets users cash in their points for merch. Users search for items they want and LoyaltyMatch will find someone to make a cash or merchandise trade with you—for instance, if you’re looking for some particular reward from X program, LoyaltyMatch will find someone willing to trade you for it in exchange for cash or merch. Even if you’re not in the same Loyalty program, other members’ points will fulfill your request. Transaction fees are $1.99 CDN. LoyaltyMatch works with most major loyalty programs and they donate 1% of the transaction funds to charities.
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“The initial idea behind LoyaltyMatch began over a year ago when we were sitting in a local coffee shop debating, "are loyalty program members still loyal to their loyalty programs." None of us could book flights using our frequent flyer points. The rewards we really desired were available only through other loyalty programs and we couldn't obtain them. We agreed most of our loyalty programs were fatigued and offered less value. At the same time, the airlines' brands were under attack with too many miles chasing too few seats. And the airlines were burdened with billions of dollars of loyalty program liabilities on their balance sheets.
Our thoughts were simplistic. What if we could design a service that provided loyalty program members with the opportunity to book the flight or get the reward they wanted, when they wanted? What if we could provide online shoppers with a new shopping experience by offering loyalty program rewards at a fair value? A service where the shopper and the loyalty program member work together to the benefit of each other's needs? What if we could develop a service that allowed airlines and their loyalty programs to reduce their liabilities and enhance their balance sheets? In the end making them and the airline industry financially stronger?
LoyaltyMatch”
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| Why it might be a killer | |||
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LoyaltyMatch is extending the reach and value of loyalty programs and their rewards, which benefits both consumers and the companies themselves. People can actually put their points to real use and get what they really want without letting anything go to waste. It will probably prove to be an equally beneficial relationship.
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| Some questions | |||
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The explanation of the service isn’t as crisp and concise as it could be—confused users are likely to ignore the site completely. Does LoyaltyMatch have enough traction to sustain itself?
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