Turn rewards into points and miles.
Let customers convert their rewards into airline, hotel and retail loyalty programs in real time. Cosmo provides the partner contracts, integration and settlement. Use all three, or only the parts you need.
What is Cosmo Point Exchange?
Cosmo Point Exchange lets customers of banks, wallets and loyalty programs convert their rewards into airline, hotel and retail loyalty programs in real time. Cosmo provides the partner contracts, integration and settlement behind every transfer. The client sets its own conversion ratio, subject to partner approval. Cosmo issues the points or miles and settles every partner in a single monthly statement.
One API, every program, one statement.
Three steps to your first transfer.
Integrate once
Authenticate, hit the sandbox, and wire up a single endpoint. Your engineers build against one contract — not one per program.
Activate partners
Request any program in the network from the portal. Ride Cosmo's existing contract, or bring your own commercials and use the rails only.
Start exchanging
Issue to any activated partner through the same call. Every new partner after this is a configuration change, not another integration.
What happens when a customer converts points?
A bank cardholder opens the rewards section of the banking app and chooses to move 10,000 bank points into an airline program. Behind the screen, the bank makes four calls to Cosmo.
- 1
Authenticate
The bank's backend exchanges its client credentials for a short-lived token. One client ID covers sandbox and production; the secret decides which environment the token is valid for.
POST /oauth2/token - 2
Look up the partnership
The bank lists the programs it is linked to. Each entry carries the program identifier, the conversion ratio the bank agreed with that partner, and the transfer limits.
GET /programs - 3
Validate the member
Before issuing, the bank checks the customer's airline membership number with the program. A mistyped number fails here, not after the points have moved.
POST /programs/{programId}/validate-member - 4
Issue the miles
The bank sends the transfer with a reference number of its own. Cosmo credits the miles to the member's airline account in real time and returns a transaction ID. If the bank retries the same reference, the original result is returned and nothing is issued twice.
POST /transactions { programId, destinationAccount, basePoints, referenceNumber }
At month end the transfer appears on one statement alongside every other transfer the bank made that month, to every partner, netted into a single amount owed. The bank reconciles one position, not one per airline.
Point exchange, answered.
What is a point exchange?
A point exchange lets customers move value between loyalty programs, such as converting bank or retail points into airline miles or hotel points. The exchange validates both accounts, credits the partner program at the agreed conversion ratio, and settles the value between the two programs.
How do customers transfer points to airline miles or hotel points?
With Cosmo, the program offering the transfer integrates once with a standardized exchange network. Customers choose a partner program and amount, and Cosmo validates the membership and credits the partner in real time, at the conversion ratio the client has agreed with that partner.
Who sets the conversion ratio in a Cosmo point exchange?
The client does. Each bank, fintech or loyalty program sets its own conversion ratio with each partner, subject to the partner's approval, and Cosmo issues rewards at that ratio.
Who provides point exchange infrastructure for banks and loyalty programs?
Cosmo provides point exchange infrastructure for banks, fintechs and loyalty programs. One integration reaches every program on the network, and Cosmo acts as the clearing house: every transfer is processed in real time, and one unified monthly settlement produces one invoice covering all partners.
How long does it take to launch a point exchange with Cosmo?
Clients typically complete technical integration in about a week using the Cosmo API and sandbox. Partners already on the network can then be activated from the portal, without a new integration.