Convert Airline Miles to Cash via PayPal and Points.com

Discussion in 'Air Canada | Aeroplan' started by getaround, Feb 9, 2011.  |  Print Topic

  1. getaround
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    getaround Silver Member

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    Convert Airline Miles to Cash via PayPal and Points.com

    Frequent flyers can now convert their airline miles to cash via PayPal and Points.com. Consumers can redeem their American Airlines, US Airways and Aeroplan miles for cash that will be deposited into their PayPal accounts through Points.com.

    PayPal account-holders can then use the money in their PayPal accounts as they normally would to make a purchase or move it into their PayPal-linked bank account. In addition to Points.com, select MyPoints users and StarChoice users can also liquidate reward points for money into their PayPal accounts.

    See the PayPal blog for the full announcement.

    http://www.auctionbytes.com/cab/cab/abn/y11/m02/i09/s05
     
  2. getaround
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    getaround Silver Member

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    Go on you "Like" it :) Just over to the right go on tick it :))))​
     
  3. fly-yul
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    fly-yul Active Member

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    8867 miles = 50$
     
  4. maradori
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    maradori Silver Member

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    wow just a bit over 1/2 cpm [​IMG]. Where's the dislike button on this forum? [​IMG]
     
  5. al613
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    al613 Silver Member

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    If someone does have only 8867 miles and does not plan to put more in that program, $50 is a good return.
     
  6. tomh009
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    tomh009 Gold Member

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    Right ... nothing forcing us to use this. If AP can earn profits by offering this option and leave mini-RTWs alone, it's all good in my books.
     
  7. cockpitvisit
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    cockpitvisit Gold Member

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    Interesting... but it would be nicer to convert cash to miles ;)
     
    asmithLHR likes this.
  8. getaround
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    getaround Silver Member

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    http://blogs.wsj.com/digits/2011/02/10/converting-miles-into-paypal-cash/

    By Willa Plank

    PayPal account holders can redeem unused miles from reward-programs of American Airlines AAdvantage, US Airways Dividend Miles or Canadian-based loyalty program Aeroplan for cash through a partnership with Points.com that was announced Wednesday.
    Points.com, part of Points International Ltd., is a rewards-program management website where people can trade, exchange, earn, buy, share, gift and redeem miles and points. The site of nearly 3 million users has 105 loyalty-point-program partners, about 35 of which allow members to perform miles or points transactions. There is no fee to join Points.com.

    [​IMG]
    Points.com​
    Points.com and some of its partners.​
    Currently people can redeem miles or points for gift cards to retailers like Starbucks or Amazon, but this new partnership widens members to everywhere PayPal is accepted, which currently includes more than 8 million merchants. Or they can transfer the money into their bank account, allowing people to essentially turn points into cash.
    Dan Schatt, general manager of financial innovations for PayPal, part of eBay Inc., said in an interview with Digits that this partnership turns reward points into a form of international money movement. It gives people an alternative to the frustration of dealing with blackout dates for redeeming miles or getting a gift card for a specific retailer. See his blog post about it here.
    Points International President Christopher Barnard said, “This is clearly the most unrestrictive way to turn miles or points into cash value.”
    The exchange rate is different for each loyalty program involved. According to an Aeroplan spokeswoman, there is a 15,000 mile minimum to redeem on Points.com, and 18,150 Aeroplan miles equals 100 Canadian dollars in PayPal credit.
    Points.com and PayPal charge a nominal transaction processing fee. The amount varies by the program.
    About 1 to 1.5 million Points.com users have registered at least one of the three reward programs currently involved. But the company plans to roll in more of its partners into this PayPal relationship.
    PayPal has a similar partnership with rewards program MyPoints.com, but this is the first time the company will exchange airline miles.
    Mr. Schatt said he thinks there is pent up demand for a service like this. “There are lots of people that have rewards points that don’t know what to do with them,” Mr. Schatt said. “If it is something that appeals (to consumers) it will encourage them to use those programs.”
    Tim Winship, publisher of FrequentFlier.com, estimates that there about 15-20 trillion outstanding frequent-flier miles for U.S. programs.
     
  9. milestoburn
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    milestoburn Gold Member

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    but if you can get up to 10K, I think you can get them over to esso, over to Avion and then perhaps to AA or BA and a better conversion.
     
  10. janyyc
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    janyyc Silver Member

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    Anyways, none of us will ever do this, right? :eek:
     

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