Today marked the 4th anniversary of Ascenda’s global points exchange network, TransferConnect, with the milestone of 50 live rewards currency partners.
Established in 2017, the network connects major financial services brands and merchants globally, and has grown rapidly by unifying a traditionally fragmented ecosystem. TransferConnect facilitates the exchange of rewards points between financial services brands and a broad set of major hotel chains, airlines, super apps and retailers across the world.
TransferConnect is now the largest global points exchange network based on the number of available currencies, enabling banks across 40 markets to connect with 50 major merchants and deliver real-time points exchange and aspirational rewards options for their 1.2 billion customers worldwide. The network allows card issuers to navigate a complex web of international partnership agreements and overcome intrinsic technical interoperability issues. Today, banks and merchants globally can drive more engagement from affluent bank customers and build deeper customer connections at speed, with ease, and at scale utilising the network.
Marking the occasion of this major milestone, partners around the world commented on the transformational impact TransferConnect has had in the industry:
“Ascenda allows United to offer new ways for MileagePlus members to engage with the MileagePlus program by making it easy for us to connect with banks in overseas markets where there is limited local presence.”
Luc Bondar, President - Mileage Plus, Vice President - Marketing & Loyalty, United Airlines
“Capital One’s points transfer program powered by Ascenda has dramatically increased the value and flexibility of our rewards currency, and enables us to offer unbeatable customer value per dollar spent on our rewards cards.”
Matthew Knise, Vice President, Upmarket Card, Capital One
“We see consistently that premium customers look for a broad choice of aspirational redemption options, with points transfers being fundamental. Working with Ascenda has enabled us to provide our issuing banks in South Korea with the broadest points exchange offering in a simple, turnkey solution.”
Soomin Om, Vice President, Global Network Services, American Express
“Ascenda has been instrumental in enabling Marriott to engage in new partnerships across markets. In just two years, we have jointly empowered millions of bank customers to transfer their rewards points to Marriott Bonvoy.”
Julie Purser, Vice President, Marriott International
TransferConnect is powered by Ascenda’s market-leading rewards technology and can be accessed effortlessly through an easy-to-use set of APIs. Clients benefit from merchant-funded offers sourced by Ascenda, which reinforce the value of points transfers. Banks can also take complete control over every partner activation and exchange rates.
The TransferConnect network continues to expand, with new banks and programs onboarding across Asia Pacific, Europe, Middle East, Africa and the Americas, alongside Ascenda’s growing portfolio of end-to-end loyalty solutions for financial services brands.
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