Vesdia Corp. and Points International Sign Exclusive Multi-year Agreement
New Relationship Between Loyalty Industry Leaders Allows Individual Investors to Convert Airline Frequent Flier and Other Loyalty Program Points into College and Retirement Savings
ATLANTA and TORONTO (PRWEB) November 20, 2003 -– Vesdia Corporation, a global leader in the field of microinvesting technology, announced today a partnership with Points International Ltd. (TSXV: PTS), operator of The Points Exchange, the worlds only independent loyalty program currency exchange. The exclusive, multi-year agreement creates one of the most remarkable evolutions in the field of loyalty marketing to date – the ability for participants in multiple airline, hotel, and retailer rewards programs to convert the value of their miles or points into virtually any savings or investment account.
Traditionally through Vesdias microinvesting programs, BabyMint (college savings) and NestEggz (retirement savings), individual investors receive up to a 20% rebate whenever they shop through a network of more than 500 merchants, including Gap, Barnes & Noble, Dell, Blockbuster, and others. Vesdias technology tracks the transaction from the point of purchase and deposits the merchant rebates into the participants designated savings vehicle. Through the new partnership, in addition to the rebates earned through their everyday purchases, participants in Vesdia programs will now have the ability to utilize Points Internationals The Points Exchange to redeem miles and points from a variety of rewards programs – including America West Airlines, Midwest Airlines, Alaska Airlines, Cathay Pacific and InterContinental Hotels – into their BabyMint and NestEggz savings plans, which are ultimately transferred into the bank or brokerage account of their choice.
Clearly, this partnership creates an exceptional enhancement for our BabyMint and NestEggz programs – a new and unique way for our participants to work towards the achievement of their financial goals and dreams," said Peter G. Davis, chief executive officer of Vesdia Corporation. Furthermore, our work with Points International has the potential to unlock, collectively, millions of dollars in assets for individuals with dormant miles or points", continued Davis. According to a recent report by Financial Research Corporation, microinvesting programs – such as those operated by Vesdia – have the potential to capture more than $21.7 billion annually in eligible shopping transactions, representing an incremental $1.1 billion per year in assets to individual investors and their financial institutions.
Vesdia is known for its world-class microinvesting loyalty programs, so we are excited to be working with them," said Points International chief executive Rob MacLean. In joining forces, Points International will be adding yet another major loyalty program provider to our exchange platform, while Vesdia will further increase the value it provides both BabyMint and NestEggz members, as well as its client financial institutions", continued MacLean. Clearly, this partnership further asserts the industry leadership positions of both organizations."
About Vesdia Corporation
Vesdia is widely recognized as the global leader in the field of microinvesting technology. Through its network of top-name retailers and name brands, Vesdias patent-protected technology enables individual investors to save towards major life events without incurring out-of-pocket expenses. In addition to serving as the savings engine" behind its own award-winning savings programs, BabyMint and NestEggz, the company's proprietary technology is also licensed by financial institutions, retailers, and credit card issuers in the U.S. and Canada to facilitate customer loyalty.
Vesdia Corporation is a privately held company headquartered in Atlanta, Georgia. For more information please visit http://www.Vesdia.com.
About Points International Ltd.
Points International operates the only independent loyalty points exchange – at www.points.com – allowing consumers to exchange points and miles from one participating loyalty program to another to achieve the rewards they want faster than ever before. The companys Pointsxchange® has to date attracted close to 40 partners, including industry leaders eBay (Anything Points), American Airlines (the AAdvantage program), InterContinental Hotels (Priority Club® Rewards), Air Canada (Aeroplan), Delta Air Lines (Sky Miles), Imperial Oil (Esso Extra), GiftCertificates.com, Fairmont Hotels & Resorts, Cathay Pacific Airways (Asia Miles), America West Airlines (FlightFund), Alaska Airlines (Mileage Plan), Sprint, JCPenney and many more.
Based in Toronto, Points Internationals shares trade on the TSX Venture Exchange under the stock symbol PTS. Please see http://www.points.com for more information.
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