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BMO Financial Group says it completed the acquisition of Canada’s Air Miles loyalty program on Thursday.
The loyalty program has more than 10 million members in Canada
The Canadian Press · Posted: Jun 01, 2023 8:06 AM EDT | Last updated: 1 hour ago
BMO has closed the deal to buy the Air Miles loyalty program, which has more than 10 million users in Canada. (Nathan Denette/The Canadian Press)
BMO Financial Group says it completed the acquisition of Canada’s Air Miles loyalty program on Thursday.
The bank says it plans to expand the program with new ways to earn and redeem points, including an improved travel booking platform and a new way for collectors to earn Bonus Miles by scanning receipts.
BMO announced in March that it would buy Air Miles after the program’s US parent company filed for bankruptcy.
Air Miles is one of the oldest and largest loyalty programs in Canada, with nearly 10 million active users.
Air Miles president Shawn Stewart says the acquisition brings stability to the program and an opportunity to invest in the program.
BMO says users will also have new opportunities to earn and redeem points with Canadian brands in fashion, travel, grocery, meal delivery, home goods and technology.
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