With E-Z Rent A Car's loyalty program, members can redeem accumulated points for discounts, toll passes and digital currencies

Rental car service E-Z Rent A Car is known for budget-friendly car rentals and now has something else to offer its customer base: member reward points that can be converted into digital currencies. Interested customers will first need to sign up to become an active member of E-Z Money. From there, they can take advantage of the benefits, one of which is to redeem their points for cryptocurrency.

According to Bloomberg, loyalty programs have been declining in the recent years with many customers becoming inactive or stopping use altogether. This new conversion could help bring old customers back while targeting new ones, such as millennials who already use digital currencies.

“Within five to 10 years, 5 percent of U.S. adults will use crypto loyalty points, and the annual issuance of related tokens should reach $3.6 billion,” global director fintech strategy Lex Sokolin of Autonomous Research LLC in London told Bloomberg.

Other companies are said to be getting on board with the idea, too. The major U.S. tech company Hewlett Packard Enterprise is interested in constructing a plan to change tokens for rewards at gas stations while Tokyo-based e-commerce site Rakuten wants customers to be able to change their rewards for digital coin.

E-Z Rent A Car


Lead Image: Car rental stock photo from RossHelen/Shutterstock

Rental car service E-Z Rent A Car is known for budget-friendly car rentals and now has something else to offer its customer base: member reward points that can be converted into digital currencies. Interested customers will first need to sign up to become an active member of E-Z Money. From there, they can take advantage of the benefits, one of which is to redeem their points for cryptocurrency.

According to Bloomberg, loyalty programs have been declining in the recent years with many customers becoming inactive or stopping use altogether. This new conversion could help bring old customers back while targeting new ones, such as millennials who already use digital currencies.