Points International Ltd., the world’s leading reward program management website, has entered into an agreement with the credit card division of JPMorgan Chase (NYSE: JPM) to enhance the transfer capabilities of reward points earned through Chase’s Ultimate Rewards program.

The Chase Ultimate Rewards program was started in May of 2009 as a very flexible rewards program, allowing its cardmembers to earn and redeem points without airfare blackout dates, points expirations, earning caps, or other common limitations. As part of its effort to enhance the program’s user friendliness, Chase has been working with Points International to make it easy for members to transfer points, and this agreement is the result of that effort.

Points International is the owner and operator of Points.com, a website that allows consumers to trade, purchase, share, or redeem reward points from various rewards programs. The site even allows users to give points as gifts. The site currently supports dozens of participating programs, including airlines, cruise lines, hotels, financial and retail businesses.

The multi-year agreement is designed to improve the transferability of Ultimate Rewards points and other program partners. Rob Rosenblatt, General Manager of Chase Card Services, commented on the importance of the move to Chase. “Chase is pleased to be working with Points.com. Our partnership with Points.com provides us with the ability to enhance our Ultimate Rewards point transfer capabilities quickly and easily, and in the process, enhance the breadth and depth of Ultimate Rewards for our cardmembers in the U.S.”

The leveraging of Chase’s program obviously has major benefits for Points International. Points CEO Rob MacLean emphasized that the addition of such a key financial services player as Chase to the site’s roster created new opportunities for Points.com and all of its partners. Chase has operations in almost every country of the world, and puts out over 100 million credit cards.