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Wyndham Rewards Points Now Redeemable for Cash

Wyndham Rewards members who don’t have an immediate use for their points can now exchange them for cash using digital asset marketplace Bakkt.
Frequent guests at Wyndham Hotels and Resorts brands who would rather get cash back than points now have a way to liquidate them though a digital asset marketplace.

 

The hospitality brand announced a new partnership with Bakkt, allowing travelers to turn in their Wyndham Rewards for cash.

 

Points Convertible for Cash, Gift Cards, or Spending Through the App

Under the new alliance, Wyndham Rewards members can link their account with Bakkt to easily convert between digital currencies. Wyndham points can be sent to Bakkt and turned into hard currency, which can either be directly deposited into a bank account, spent through the Bakkt app using Apple Pay or Google Pay, or purchase discounted gift cards. In turn, Bakkt members can also turn their digital assets into Wyndham Rewards points.

 

Although neither company have publicly disclosed the exchange rate, Bakkt notes that members can only redeem 15,000 Wyndham Rewards per month for cash. A minimum exchange of 100 Wyndham Rewards points is required per transaction.

 

To encourage Wyndham Rewards members to join the marketplace, Bakkt is offering a bonus of up to 3,000 points. Members can earn 1,000 points just for linking their accounts together, followed by an additional 2,000 points for redeeming them for cash. The offer is limited to the first one million members and accounts must be linked by February 15, 2022.

 

The move comes as both consumers and investors are paying closer attention to cryptocurrency and soft currencies as a potential cash vehicle. In comments to PYMNTS, Bakkt CEO Gavin Michael said the business of exchanging “digital assets” – like rewards points – into cash could be worth as much as $1.2 billion.

 

Wyndham Becomes Third Program to Participate in Bakkt Exchange

With the partnership, Wyndham Rewards is the third loyalty program to allow members to use Bakkt to sell points for cash. Both Fiserv’s UChoice Rewards and Choice Privileges can be exchanged using the company’s marketplace app.

2 Comments
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xingqianli February 19, 2022

good

I
iowa guy December 25, 2021

Are there any other brands (besides Wyndham) that are offering bonuses for linking accounts and/or redeeming points for cash?