Letts has run a string of high-profile web ventures operating across the US and Europe, including an established Silicon Valley venture, overseeing the creation of one of the world's first fledgling forms of internet currencies, beenz.
Earlier, he was president, COO and director of beenz.
The offer has been introduced because of the recent announcement by beenz.
com partners include Air Canada, American Airlines, America West Airlines, Midwest Express Airlines, beenz.
The beenz rewardzcard MasterCard, issued by Columbus Bank and Trust, will be available through beenz.
The greatest accolade and the best endorsement a company can receive is how consumers are supporting the concept and the brand," says Philip Letts, chairman and CEO of beenz.
In the near future, Telinco will introduce a scheme where users can "buy" free minutes with Beenz, the internet reward point "currency" offered by Beenz.
Chairman and CEO Philip Letts has had a successful career in growing businesses from start-up stage into global software players, including companies such as Corechange, Beenz.
com participants include American Airlines, Air Canada, Alaska Airlines and Midwest Express Airlines as well as Netcentives, beenz.
MTVi Europe, a division of Internet music entertainment company The MTVi Group, has signed an agreement with beenz.
Other Internet retailers are beginning to incorporate in their frequent-shopper programs two forms of Web currency: beenz, from Beenz.
We have a seamless offering - working together, you have the complete e-commerce solution," said Mr Charles Cohen, founder and chief technology officer of beenz.