Here’s an interesting development as a demonstration of the way airline frequent flier and loyalty schemes are headed.
PointsPay, part of the Loylogic stable, allows users to convert miles/points into money via an iPhone application.
Users can spend money in their chosen currency anywhere that accepts Visa or Mastercard in two ways – via a re-loadable plastic payment card or a virtual card.
Read full story at: http://www.tnooz.com/2012/10/12/news/is-miles-to-cash-the-future-as-mobile-wallet-allows-users-to-spend-anywhere/