Barclaycard's eight million UK cardholders will automatically earn "Reward Money", whenever they make a purchase at a participating retailer. The rewards will usually equate to about 1% of the transaction total.
Customers will be able to see their latest Reward Money balance when using the card-payment machine, before they enter their Pin, and will be able to redeem the reward whenever they choose.
Barclaycard has invited more than 30,000 retailers to participate and aims to sign up an average of 200 retailers within five miles of a cardholder's home.
Sarah Newman, managing director at Barclaycard Freedom, said: "It incorporates all of the best elements of other reward schemes, with no need to collect and save vouchers – the rewards will be in pounds and pence."
The new scheme will be backed with an above-the-line ad campaign, by Bartle Bogle Hegarty (BBH).
Last week, , the sequel to its long-running 'Waterslide' spot.
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