Wing’s Post

The thought experiment at the core of Sumit Singh recent commentary in Simple Flying (https://lnkd.in/gnBJTeq5) is an interesting one – could a loyalty currency replace a traditional fiat currency under the right circumstances?    It’s possible, of course; all currencies are exactly as legitimate and valuable as the market makes them, and just as we transitioned from using shiny metals to paper notes to ones and zeroes as agreed-upon signifiers of value, it’s conceivable that loyalty points could one day take up that same role. We simply don’t think it’s very likely, even at the circumscribed scale that Singh and the head of Emirates’ Skywards loyalty program envisioned.    In fact, this limited scope makes the idea of Skywards becoming equivalent to cash dubious. The commentary describes Skywards’ ambition as “replacing [ing] traditional forms of currency in its own ecosystem,” presumably meaning the travel ecosystem in markets served by Emirates or perhaps Dubai more broadly. To support this, the article cites that Skywards points are accepted as payment at The Dubai Mall, Dubai Duty-Free, Atlantis The Palm, and (some) Hilton hotels.    But you’d have to add a lot more brand names to that list to make Skywards a viable currency, and the mechanisms for doing that are fading, not ascending. In the heyday of coalition loyalty, when Plenti and Air Miles headlined consumers’ imaginations and investors’ valuations, it was more plausible that one of these giant, multi-brand currencies could rival the acceptance and day-to-day utility of dollars and Euros.  Plenti is long gone, Air Miles restructured, and those days have passed.    We know this is an incredibly complex and challenging undertaking from our work with travel loyalty technology companies that develop fungible, flexible loyalty currencies that unlock value for the brands they serve. So Skywards should be lauded for their technical expertise and their currency’s impressive penetration. But until the general public stops thinking about how much actual money their loyalty programs can save them, no loyalty currency will come close to cash.    Do you ever think of your points and miles as cash equivalents? Or do you share our skepticism that loyalty points will be the next evolution of currency?  #loyaltycurrency #fiatcurrency #pointsascash #FFPs #loyaltypoints #loyaltypoints #loyaltyprograms #airlinetrends #airlineloyalty #emiratesskywards 

Post #2 of the insights from payments in France during the Olympics! My favourite is Spain bringing the late-night spending party - since July 24, of all payments made in France, the Spanish spend the most from 11pm - 5am, followed by the US and Italy. Catch up on all the latest insights here, from the top payment methods and the unstoppable rise of contactless payments to the countries topping the spend leaderboard and what they’re buying. Keep up with the latest action and analysis here: https://shorturl.at/kiaTh #summerofsports #paymentsdata #paymentstrends #engineeredforambition

Unleash the hidden power of prepaid Visa and Mastercards in nurturing lasting connections and loyalty! 🧠 Our insights reveal how virtual Visa cards offer streamlined digital redemption, offering unparalleled flexibility and convenience. Say hello to a new era of rewards that transform engagement into devotion. https://hubs.ly/Q02mLkth0 #LoyaltyBuilding #VirtualVisaCards

Simple upgrades, big results. Learn how to add value to your Airbnb without breaking the bank #airbnbtips #airbnbhost #airbnbhacks #shorttermrentals #passiveincome

We’ve added a further seven currencies to our pre-paid currency card, the Travelex Money Card (TMC), powered by Mastercard! 🎉 Now customers in the UK can upload and spend Norwegian Krone, Danish Krone, Icelandic Krona, Hungarian Forint, Thai Baht, Hong Kong Dollar and Singapore Dollar on their TMC, taking the total number of currencies available to 22. This expansion meets growing demand for Asian currencies as travel continues to rebound in the region post-pandemic. It’s also the latest milestone in our digital transformation journey, including innovations like our self-service digital kiosk at Heathrow and the ATM click-and-collect product. Read the full article here: https://lnkd.in/ePayGCfW #WeAreTravelex #TravelMoney #CustomerExperience #NewCurrencies

𝐓𝐡𝐢𝐧𝐤 𝐓𝐰𝐢𝐜𝐞 𝐁𝐞𝐟𝐨𝐫𝐞 𝐄𝐱𝐜𝐡𝐚𝐧𝐠𝐢𝐧𝐠 𝐂𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐚𝐭 𝐭𝐡𝐞 𝐀𝐢𝐫𝐩𝐨𝐫𝐭 When you're rushing to prepare for an international trip, it's easy to leave some tasks for the last minute. Exchanging your money might seem like a simple check-box that can be done quickly at the airport, but here are some compelling reasons why that might not be the wisest choice: 1. Unfavorable Exchange Rates Airports are known for having the most expensive exchange rates. Since they're the last stop for many travelers, currency exchange booths take advantage of the captive audience and often charge much higher rates than what you'd find elsewhere. 2. High Commission Fees Aside from the poor rates, many airport currency exchanges also charge high commissions or service fees. These extra costs can add up, especially if you're exchanging a significant amount of money. 3. Inconvenient Amounts Exchanging money at the airport may result in getting denominations that aren't ideal for your needs. Smaller, less common denominations can be harder to spend, especially in places where exact change is needed or in less urban locations. 4. Better Alternatives Available These days, there are numerous alternatives for currency exchange. From using credit/debit cards with no foreign transaction fees to withdrawing money directly from ATMs at your destination, you'll likely find better rates and lower fees. 5. Planning Pays Off By planning and exchanging money beforehand at your local bank or through a reputable online forex service, you can shop around for the best rates and ensure you're getting the most bang for your buck. Remember, every penny counts when you're traveling! To make the most of your travel budget, consider avoiding the airport currency exchange and looking into more economical and convenient options. Safe travels and smart spending! Follow us for more Travel Tips! Visit my FB Page: https://lnkd.in/e6eAYEAG . . #CurrencyExchangeTips #TravelSmart #SaveMoneyTravelMore #SmartTraveler #CurrencyConversion #FinancialTipsForTravel #BetterExchangeRates #TravelHacks #ForexTips

Your signature is unique, and so are your aspirations. Whether you're a travel enthusiast, a foodie, or a smart spender, the MCB Visa Signature Debit Card adapts to your unique lifestyle. #MCBBank #Bank4Life #MCBVisaSignature #LiveTheSignatureLife #SignatureMove

💸 Fun Fact Friday: The Best Ways to Exchange Money When Traveling 💸 Planning your next adventure? 🌍 One crucial aspect of smooth, stress-free travel is getting your money situation sorted out. Here are the top ways to exchange money for your trip: 1️⃣ ATMs: Using local ATMs is often the most cost-effective way to get local currency. Look for machines affiliated with your bank to minimize fees. 2️⃣ Credit Cards: Use credit cards that don't charge foreign transaction fees. They're convenient and often offer better exchange rates than local money changers. Plus, when paying with a credit card outside the US, you'll often be asked if you want to pay in US Dollars or local currency—always choose local currency to avoid extra fees. 3️⃣ Currency Exchange Services: Places like Travelex or exchange kiosks in airports can be handy, but be cautious of higher fees or less favorable rates. 4️⃣ Banks: Exchange money at your local bank before you travel to avoid high fees. Many banks offer competitive rates and fewer fees compared to airport exchanges. 5️⃣ Avoid Exchange Counters: Airport exchange counters might be convenient but often come with high fees and poor exchange rates. 🌟 Pro Tips: * Notify your bank of your travel plans to avoid any issues with card usage. * Keep some local currency handy for small purchases, tips, or emergencies. * You don't need to bring a lot of foreign currency with you when you travel. Withdraw money as needed upon arrival. * Always double-check exchange rates and fees before making a currency exchange. Happy travels, and may your wallet always be ready for adventure! 🌏✈️💼 #FunFactFriday #MoneyExchange #TravelSmart #CurrencyTips #OutlanderTravel #RobinatOutlanderTravel #NCTravelAgent #internationaltravel #TravelMoreIn24

"Traveling from the UK to Italy? Italy uses the Euro (€), so plan ahead for your trip: Exchange Options: Get euros at your local bank, exchange provider, or use ATMs in Italy. Card-Friendly: Most places accept credit and debit cards, but small cash is handy for local markets and tipping. Pro Tip: Compare rates and avoid airport exchanges for better deals. Travel smarter and make your money go further. 🌍💶✨" #Unicorncurrencies #Currencyexchange #Currencyexchangecompanies #Globalnews #Currencyexchangefortravel

With five partnerships with banks and credit cards in place in the United States, Brazil, Australia, Japan and South Korea, Hopper is doubling down on growing HTS (Hopper Technology Solutions). Find out more on #PhocusWire: https://bit.ly/3SHsH5Q #travelnews #travelindustrynews #travelindustry #hopper #hoppertechnologysolutions #traveltech #traveltechnology #traveltechnews #travelpayments