TORONTO – Shares in Points International Ltd. climbed more than 17 per cent Tuesday after the loyalty rewards company announced a partnership with credit card giant MasterCard.
By mid-day, the shares (Nasdaq:PCOM) were up $4.49 to US$30.04 in New York.
The Toronto-based company said the deal with MasterCard will give consumers the opportunity to participate in the Points Loyalty Wallet program, which enables tracking, exchanging, trading, buying and gifting reward points.
It will be up to the individual banks with MasterCard accounts to decide if they want to participate in the partnership.
The company did not specify if any banks had already signed on and no specific details about the program were released.
Points International said it expects the option to be fully implemented by the end of the year.