For 8+ years I (as well as many of you) have been talking about the importance of bringing point and mile currencies to the point of sale. Today, innovative retailers like Best Buy are driving the POS redemption capability. Why? For two major reasons 1) estimates of outstanding point/miles balances in the marketplace today top $10B and 2) they’re listening to their customer.
The business case for a piece of the loyalty currency market is obvious, but the unique and more brilliant, long-term reason is the....