Founded as a rewards redemption service, Get PEYD initially focused solely on assisting consumers in maximizing airline miles and credit card points. Get PEYD’s latest venture, PEYD360°, takes it to an entirely different sphere.
Founded in 2011 by four lifelong friends from New York, the PEYD logo represents the first name of each of the partners: Pinny Ackerman, Eli Schreiber, Yaakov Portnoy, and Dudi Akerman. The young entrepreneurs recognized that rewards programs were often complex and difficult to navigate, leaving many people to allow their hard-won points to expire. Up to 90 percent of the 300 million plus in frequent flyer and rewards points earned each year can go unclaimed, often because both private individuals and businesses find redeeming them to be either too challenging or simply too time-consuming.
Within a few short years, the company developed into a full-scale travel agency, addressing travel needs of both private individuals and small businesses. Director of Operations Pinny Ackerman explained that the PEYD team uses its extensive knowledge of the intricate mileage network employed by various airlines and alliances to find the best deals for clients. A coach ticket to China may cost $1,000 or 70,000 miles, while a business class ticket to the same destination can run $6,500 or 140,000 miles. Although mileage tickets can offer significant savings with their substantially smaller price differentials, they can be difficult to acquire.
“An infrequent traveler may not know how to navigate the system to take advantage of that mileage ticket, but discounted business class tickets are our specialty,” said Ackerman. “Our agents utilize the vast network of rewards options to book the ticket and take care of everything.”
PEYD has grown from a four-man, one-room operation in New York to a global business with additional offices in New York, Pittsburgh, and Jerusalem serving a diverse clientele. With a customer base comprising all types of travelers — from the occasional flyer looking to use miles or points to enjoy a free trip, to frequent flyers who have amassed high quantities of unused miles — PEYD Travel assists clients in bundling miles and points together to allow them to enjoy their rewards in a variety of ways. Rewards can be applied not only to airfare and hotels, but to premium luxury experiences as well. PEYD Travel also works with luxury villas in destinations such as Jerusalem, Miami Beach, the Catskills, the Maldives, the Poconos, and the Caribbean Islands.
“As our company has grown, we renewed our focus on business travel and rewards management,” said Eli Schreiber, PEYD’s director of marketing. “We are the only company that offers credit card rewards, airline miles, and travel services merged into one cohesive product based on your business type and where you are traveling.”
The specialists at PEYD360° work with businesses to determine the most beneficial program for each particular situation. Business owners who use corporate cards to pay for inventory and operational expenses or conduct the majority of their business online can potentially earn hundreds of thousands of points per month by choosing the best program to fit their corporate profile.
After careful review and analysis of a company’s spending profile, PEYD360° experts decipher the benefits of each program and advise which cards and programs to use in order to accrue the maximum rewards. Through their particular expertise on the redemption side, the mileage experts are able to then assist in utilizing those miles and points in the most efficient way. Through their relationships with companies such as American Express and Visa, PEYD360° can also help companies save money in unique and lesser-known ways. For example, in place of wire services for payments, companies can utilize a program at AMEX to send wire payments through one’s credit card, eliminating cash flow issues and increasing the opportunity for accumulating additional miles.
“The credit card companies have come to us and said: How can we work together to get the best value for your clients?” said account manager Moshe Fried. “We collaborate by analyzing the client’s business and spending habits to maximize their dollars and find new ways for savings and revenue.”