MilePoint, the Minneapolis-based company that introduced a means by which frequent travelers could use their miles and points toward the purchase of goods and services on the Internet, recently announced a slew of new business-to-business products for the loyalty industry.

In 2003, MilePoint will refocus its consumer site and add cruise, condo and resort timeshare products. “We think we will offer the best cruise and resort vacation values in the industry while retaining a benefit our members already enjoy, the ability to pay for magazine subscriptions with miles and points,” said Mike Lacek, CEO.

MilePoint will offer a new suite of applications including MVendor for the online sale of miles and points; MTransfer for the online transfer of awards or loyalty currency from one member to another; MPromo for the utilization of miles or points in a packaged goods or product promotion; MMagAwards, which will allow programs to offer magazine subscriptions as a low-cost award option; MMarketplace, which allows sponsors to private-label the MilePoint currency exchange platform; and MManager — a complete loyalty operating software system.

Information and details on all of these applications can be found at www.milepoint.com.

Editor’s Note: We take this news to mean that MilePoint will eliminate other merchants who have offered discounts, such as Amazon.com, Sharper Image, ToysRUs.com. If so — we suggest you quickly decide which opportunities you want to use before things change for good.