Wouldn’t it be great if you could open
a digital wallet and view the sum total of all your rewards programs for
hotels, pharmacies, and bank cards, all in one place, converted into cash?
Then, you could spend all those thousands of unused airline miles as dollars to
buy an Apple watch or take your spouse to dinner at the corner pizzeria.
Loyalty points you don’t even know you have––the average American has more than
a dozen rewards programs––are suddenly as spendable as the bucks in your
checking account, just by scanning your rewards app at the checkout counter.
What’s more, you can even get cash for video game points you could only use to
buy, say, a sword to make your team mightier, and trade points for your Bitcoin
on the same wallet.
That’s the vision for a new product
that Bakkt, a startup backed by Intercontinental Exchange (ICE), is planning to
develop by purchasing a specialist that handles rewards redemptions for
America’s biggest sponsors, Bridge2 Solutions of Atlanta. The deal, announced