MilePoint.com, the first Internet company that allows frequent travellers to use their accumulated miles and points as payment toward a wide variety of online purchases, is celebrating its first anniversary.
“The changing landscape of the travel industry combined with the slowing economy has alerted frequent travellers to other ways of redeeming their accumulated miles and points beyond travel awards,” said Mark Lacek, chief executive officer and co-founder of MilePoint.
MilePoint continues to add new merchant offerings and travel partners, 19 since its launch last year, and announced members can now use their registered miles and points toward the purchase of gift certificates at such popular merchants as Lands` End, Spiegel and Sharper Image.
MilePoint members are able to shop at more than 150 online merchants and use their miles and points as payment toward the purchase price. “By using miles and points toward online purchases, we have literally released millions of dollars of purchasing power into the online marketplace,” said Lacek. “With less people flying and some deferring leisure travel, coupled with a slowing economy, we anticipate an increased use of miles as a form of payment toward gifts this holiday season.” Merchants allow miles to be used to pay from five to 100 percent of the purchase price and average between 10 and 20 percent, with 25,000 miles equalling $500 in purchasing power.