Since loyalty points have been a de facto virtual currency long before the advent of bitcoin, many fintech startups have pitched Asia Miles chief executive Stephen Wong to consider miles on ecommerce sites as a payment option.
His answer has been no.
If miles become a virtual currency, tradability and the necessary liquidity for it will be its biggest flaw, he explained. A philosophical question about the value of the miles...
- Campaign Asia-Pacific online premium content* including in-depth monthly focus on key trends and industry issues
- Unlimited website access*, and an archive of more than 70,000 articles
- Regular value-added supplements including brand health checks, sector studies, ad critiques and research charts
- Daily newsletters and breaking story alerts straight to your inbox
- New weekly feature articles on the latest research, innovation and marketing trends
- Be the first to hear about industry events