The Globe and Mail reports in its Tuesday edition that Aeroplan members can now earn points on mortgage payments through a new partnership with Chexy. The Globe's Salmaan Farooqui writes that this collaboration with Air Canada's rewards program allows Canadians to earn points on a significant household expense.
Chexy enables Canadians to earn rewards points by using a credit card for rent payments. Since mortgage payments cannot be made with credit cards, Chexy users will be able to make payments through their bank account.
Chexy charges a 1.75-per-cent fee on mortgage payments, and users will earn one Aeroplan point per dollar spent.
"It's one of the No. 1 features our customers have always asked for," said Chexy co-founder Liza Akhvledziani Carew.
"It essentially mimics using an Aeroplan credit card without using credit."
Ms. Akhvledziani Carew said her company currently services 200,000 accounts and more than $2-billion in payments processed.
Ms. Akhvledzani Carew said expensive long-haul flights offer the best return on points. Quick accumulation of points through mortgage payments helps consumers afford flights they otherwise couldn't, with some users flying business class for the first time thanks to Chexy.
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