Chexy & Aeroplan launch mortgage rewards in Canada

Chexy has expanded its partnership with Aeroplan to launch a mortgage rewards programme in Canada, which it describes as the first offer of its kind in the country.

Under the programme, homeowners can earn one Aeroplan point for every dollar paid towards their mortgage through Chexy from a bank account. Aeroplan members working towards Elite Status will also receive one Status Qualifying Credit for every five Aeroplan points earned, capped at 25,000 Status Qualifying Credits per calendar year in the Everyday Partners category.

The move takes Chexy into the mortgage market after building its business around helping Canadians collect rewards on rent and other recurring bills. It also broadens Aeroplan's reach into another category of household spending that has traditionally sat outside loyalty schemes.

The service works with virtually any Canadian mortgage lender. Homeowners do not need to switch banks, refinance their mortgage or move to a new lender to use the programme.

The offer targets one of the highest regular costs for Canadian households. Mortgage payments have generally not generated travel rewards, unlike purchases made on many credit cards or through retail loyalty partnerships.

Liza Akhvledziani Carew, Co-Founder and Chief Executive Officer of Chexy, said the company wanted to turn a routine financial obligation into something that delivers value for customers.

"At Chexy, we believe the money you have to spend should help fund the life you want to live. Nowhere is that more true than the mortgage - one of the largest payments Canadian homeowners make each month, and one that's never before earned them loyalty rewards. By expanding our partnership with Aeroplan, we're changing that: your mortgage payment can now bring you closer to your next trip. It's an everyday obligation turned into a way to live a little bigger," said Carew.

Housing payments

The launch builds on an existing relationship between Chexy and Aeroplan in housing-related payments. Chexy already works with Aeroplan on rent and recurring payment products, and has also partnered with Fitzrovia, which it describes as Canada's largest developer of purpose-built rental communities.

Through that arrangement, eligible residents can earn Aeroplan points linked to their residence, including on qualifying rent payments and through promotional offers. They can access the rewards without changing banks or altering the way they pay rent.

That existing activity gives Chexy a foothold in a part of the consumer payments market where many large recurring transactions have historically been excluded from loyalty programmes. The mortgage launch extends that model from tenants to homeowners.

Chexy describes itself as a Canadian financial technology company focused on helping consumers and businesses get more from everyday expenses. Its platform allows users to make large recurring payments, including rent, utilities and government taxes, in ways that can generate rewards where those payments would not usually qualify.

The company originally launched with a focus on rent payments before widening its coverage to other essential transactions. It says tens of thousands of Canadians use the service.

Loyalty expansion

For Aeroplan, the arrangement gives members another way to gather points without adding new discretionary spending. Instead, the programme ties rewards to money homeowners already expect to pay each month.

Scott O'Leary, Vice President, Loyalty & Product at Air Canada, said the expanded partnership gives Aeroplan members a new way to earn rewards through a major monthly bill.

"We're excited to be expanding our partnership with Chexy to include mortgage payments," said O'Leary.

"This program provides Aeroplan Members with the ability to turn their monthly mortgage payment into a very meaningful reward - one that brings them closer to the travel experiences they've been saving for," he added.

The programme's structure means households with larger mortgages could accumulate points faster than they might through smaller routine purchases. At the same time, the annual cap on Status Qualifying Credits limits how far mortgage payments alone can contribute to Aeroplan elite status.

The launch reflects a wider push by payments and loyalty companies to attach rewards to essential spending categories rather than only retail purchases and travel bookings. In Canada, housing costs are among the largest regular outgoings for both renters and homeowners, making them an attractive area for companies seeking to deepen engagement with loyalty members.

Mortgage rewards are now available through Chexy's platform for eligible funding methods and with virtually all Canadian mortgage lenders.