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Is Lufthansa an e-money issuer?

Summary:
There's a fascinating story brewing over at Lufthansa in relation to its Miles & More loyalty points scheme (hat tip to the FT's Josh Spero for drawing our attention to the Head for Points story that spells it out). Someone is suing Lufthansa for an inability to withdraw accumulated air miles points as cash. As a result of the debacle, Head for Points says a bunch of hotels and shopping programmes, including Marriott Bonvoy and Radisson Rewards, have suspended the transfer of their points to the Lufthansa Miles & More scheme. Transfer schemes allow passengers who don't have enough loyalty points to purchase specific flights to use those transferred from other programmes, especially ones that sell points for cash.Lufthansa's defence is that the points do not have a cash value. But,

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There's a fascinating story brewing over at Lufthansa in relation to its Miles & More...

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