Mastercard says its new Pay with Rewards feature will make card points easier to spend, but banks, stores and dates have not been named.
Mastercard has announced Pay with Rewards, a feature meant to make it easier to spend the points you earn on your card. The name points to using rewards at the moment you pay, rather than in a separate step first.
Card rewards are points or perks you collect when you spend. Today, cashing them in can mean logging in to a bank site, picking an option and waiting. Mastercard describes this new feature as aimed at seamless redemption, meaning fewer steps between your points and your purchase.
The material does not say how the feature works in practice. Several basics are missing:
If you collect card points, there is nothing to set up yet. Mastercard is the network behind many cards, but your bank decides how your rewards program runs. Check your bank's terms and announcements before counting on this feature. Watch for news that names your card, your bank and a start date.
Pay with Rewards could make card points easier to use, but wait for your bank to confirm it covers your card.
Fake PayPal emails and texts, some posing as a security report, try to get you to tap a link and type your login. Checking your account directly avoids the trap.
Read more: Got a fake PayPal message? Skip its link and check your account yourselfSecurity firm Flashpoint says criminals are trading in refund tricks, gift card fraud and hacked online stores ahead of the holidays. Shop owners should check their refund steps.
Read more: Scammers are targeting store refunds and gift cards before the holidaysMastercard describes AI tools that could buy things for you, and says trust is the hard part: who gets to spend your money, and under what rules.
Read more: Mastercard outlines how AI assistants could shop and pay for you
