Originally Posted by asovse1

For consumers, don't they facilitate transfers between different points programs? https://www.points.com/personal/loyalty-partners/

This page gives me a hint on what behind-the-scenes services they could provide to AC: https://company.points.com/ but obviously nothing concrete is revealed here. I wouldn't be surprised if they used points.com (on the back-end?) to facilitate points transfers from hotel programs, or some kind of consulting for the design of AC's new program. I think my wildest guess would be points.com used as a currency swapping business (in both real cash and foreign points currencies) kinda like Transferwise's business model. My guess falls apart when I think that AC happily accepts USD when it comes to US AMEX purchasing Aeroplan miles in bulk or Bonvoy-rich folk transfer to Aeroplan.

Other programs, like AA or Bonvoy use points.com for miles purchases, just like Aeroplan. Could there be another common thread between these three programs partnering with points.com?