# Point-Giving Banking Cards Point Debuts New Challenger Bank with Rewards on Debit Card Purchases By Grace Mahas | Published 2020-07-06 | Business Source: Trend Hunter, https://www.trendhunter.com/trends/point-1 References: [techcrunch](https://techcrunch.com/2020/07/01/point-launches-new-challenger-bank-with-rewards-on-debit-card-purchases/) & [point.app](https://www.point.app/?g) [Point](https://www.trendhunter.com/trends/point-mobile-banking-app), a new American banking app that gives consumers points for using their debit cards, recently announced a new version of its service. The new concept aims to mimic the experience of a credit card with rewards and a point-based system and is especially alluring to users wishing to avoid a credit check upon sign up. With every transaction, users will receive points. Users receive twice the points for groceries and dinging and five times the points for subscriptions like [Netflix](https://www.trendhunter.com/trends/the-american-table) or [Spotify](https://www.trendhunter.com/trends/gmt-pay). Each point is worth $0.01 and users can move the funds from the third-party app Plait directly into their Point checking account, or other payment apps including Venmo and [PayPal](https://www.trendhunter.com/trends/paypal-1). The official launch of Point was so well received by consumers, there is currently a waitlist to sign up with the banking app. Image Credit: Venmo ## Trend Insights (Trend Hunter) - Score: 1.8/10 - Popularity: 12% | Activity: 33% | Freshness: 9% - Audience gender: 50% men, 50% women - Primary generations: Millennial, Gen X - Top markets: North America ## Categories [Trend Hunter](https://www.trendhunter.com/trends) > [Business](https://www.trendhunter.com/business) > [New Ventures](https://www.trendhunter.com/newventures) ## Key Themes ### What Makes This Trend Stand Out - **Debit Card Rewards:** Opportunity for banks and financial institutions to offer rewards programs on debit cards, simulating the experience of credit cards. - **Point-based Systems:** Potential for businesses to implement point-based systems to incentivize customer loyalty and increase engagement. - **Seamless Payment Integration:** Opportunity for payment apps and third-party services to integrate with banking apps, allowing users to easily transfer funds and manage their accounts. ### Sectors Adopting This - **Banking:** Potential for traditional banks to adopt debit card rewards programs and point-based systems to attract and retain customers. - **Retail:** Opportunity for retailers to partner with banks to offer exclusive rewards and promotions to customers using debit cards. - **Fintech:** Fintech companies can explore opportunities to develop seamless payment integration solutions that enhance user experience and convenience. ## Related on Trend Hunter - [Rewards-Based Debit Cards](https://www.trendhunter.com/trends/seltz-1.md) - [Commerce-Enhanced Payment Cards](https://www.trendhunter.com/trends/venmo-debit-mastercard.md) - [BNPL-Backed Credit Cards](https://www.trendhunter.com/trends/klarna-5.md) - [Charitable Loyalty Program Expansions](https://www.trendhunter.com/trends/charitable-loyalty-program.md) - [Brunch-Themed Prepaid Cards](https://www.trendhunter.com/trends/avocado-toast-iced-coffee-card.md) - [Digital Rewards-Integrated Cards](https://www.trendhunter.com/trends/tranzactcard.md) - [Debit-Like Credit Builders](https://www.trendhunter.com/trends/buildmycreditscore.md) - [Gamer-Targeted Credit Cards](https://www.trendhunter.com/trends/the-xbox-mastercard.md) - [Shopping Rewards Programs](https://www.trendhunter.com/trends/paypal-1.md)