Mastercard launches new Debit Rewards program

Debit Mastercard holders can now take advantage of discounted travel, entertainment, food and drink offers, plus more!

In an industry first, Mastercard has today launched its Debit Rewards program, allowing debit cardholders to enjoy discounts on a wide range of everyday items from food and tickets, to cars and phone plans. Reward programs are usually reserved for credit cardholders only, isolating a large number of young Australians who use cash and debit as their primary form of payment.

Moving away from other rewards programs in the market which encourage big spending, Mastercard's new Debit Rewards program will reward cardholders for the how often they use their card for purchases, not for how much they spend.

As a lot of debit cardholders are under the age of 35, a lot of the rewards offers are tailored towards millennials. Examples of some of the current offers debit Mastercard holders can take advantage of are free herb and garlic pizza squares from Crust Pizza, six month free membership with car sharing service GoGet and 20% off amaysim mobile plans.

To support the launch of the new Rewards Program, Mastercard has released the results of a first-of-its-kind neuroscience experiment conducted in conjunction with the University of New South Wales (UNSW). The experiment asked millennial participants to choose between two responses across a range of questions, with the findings used to help determine what rewards should be on offer as part of the Debit Rewards program.

Millennials are more simple than we think

The Millennials Demystified Experiment asked young Australians a series of simple questions while wearing a headset that tracked their brain waves. While the participants thought about the questions and selected their responses, researchers monitored their brainwave activity and physical reactions like eye movements. This allowed the researchers to learn how the participants really felt about the questions, regardless of which answer they selected.

The results proved that millennials are much simpler than society may believe, and are more selfless than many stereotypes may suggest. The study revealed millennials are more likely to raise a million dollars for charity than have a million social media followers, would forgo social media fame for self-confidence and would prefer a cuppa and a chat with mum over a trendy blue algae latte.

Mastercard Vice president of marketing Australasia Sarah Pike said, “Young Aussies are looking for ways to make positive changes in the world and connect with the people they care about. We’ve developed benefits with this in mind, providing discounts for travel, two-for-one entertainment offers and hospitality upgrades.”

All Australians with a debit Mastercard can take advantage of the new rewards program. If you don't have a debit Mastercard and are keen to get one, consider the Westpac Choice Transaction account or the ME Everyday Transaction account.