Revolut has announced the launch of RevPoints, a new rewards programme in Australia providing uncapped rewards points on debit card expenditure, with points redeemable for airline miles, gift cards, and other lifestyle benefits.
The initiative marks the first debit card loyalty programme in Australia offering uncapped rewards points, historically a feature limited to high-fee credit cards. RevPoints enables customers to earn points without incurring debt, thereby expanding access to travel and retail rewards for a broader population.
Debt-free rewards
RevPoints departs from established industry practice by allowing customers to accrue loyalty points on everyday debit spending rather than credit transactions. This approach removes the credit and debt element traditionally associated with earning points, creating a structure that caters to those who either cannot or prefer not to use credit cards.
With RevPoints, users can earn points at a rate of up to one point per dollar spent, depending on their chosen Revolut plan. There is also the ability to accelerate earnings by converting spare change into points within the app. The points can be redeemed through the Lifestyle section of the Revolut app for a range of rewards, including travel, accommodation, and experiences.
Travel and lifestyle focus
The programme's range of redemption options is broad. Points can be transferred at a 1:1 rate to ten major airline loyalty schemes, including Etihad, British Airways, and Turkish Airlines, giving users opportunities to convert daily spending into air miles with several international carriers.
In addition to travel options, RevPoints can be exchanged for discounts on accommodation through the Revolut Stays feature and for booking experiences ranging from tours to attractions. Other practical applications include redemption for gift cards from local and international brands such as Woolworths, Big W, Amazon, Uber, and Uber Eats. This gives users the flexibility to use their points for everyday essentials as well as special or luxury experiences.
Redemption and accessibility
A key aspect of RevPoints is its accessibility to all Revolut debit card users in Australia, not just those willing or able to pay high annual fees or accumulate credit card debt. The uncapped nature of the rewards is structured to appeal to users who prefer managing their finances without relying on credit facilities.
According to Revolut, the initiative could put structural pressure on existing bank credit card portfolios, as it meets consumer demand for valuable and accessible rewards without the need for card-based borrowing.
Company rationale
Matt Baxby, CEO of Revolut Australia, said, "We know Australians are savvy with their money, and they're increasingly looking for smarter ways to get more value from their everyday spending. RevPoints is a direct answer to that need. We're breaking down the barriers to premium rewards by making them accessible through the debit card that most Australians already use daily. This isn't just about earning points; it's about making travel, unique experiences and tangible rewards a reality for more Aussies, without the need for a credit card."
The move by Revolut aligns with a trend among financial technology firms to broaden access to perks and benefits that have traditionally been the preserve of higher-spending credit customers.
Plan details
According to Revolut, the amount of points earned per dollar spent depends on the customer's chosen plan. Users can view earning rates and redemption options via the Revolut app.
The company, which reports having over 65 million customers worldwide, has positioned RevPoints as a way for Australians to gain value from ordinary spending, whether for travel, experiences, or essentials, without accruing debt or fees typically associated with comparable credit card rewards programmes.
