Consumer Payment Card News

Debit Card Miles

Debit Card Miles Rewards for using a signature instead of a PIN for debit card purchases are taking off as Ohio-based KeyCorp introduced Continental Airlines “OnePass” miles for its “MasterMoney” debit card. This spring, Key will offer its two million MasterCard debit cardholders the opportunity to upgrade to the new rewards debit card. The issuer becomes the second U.S. issuer to offer Continental “OnePass” miles for signature debit POS transactions. In February 1999, Chase Manhattan launched the first co-branded debit card program in the USA. Teaming with Continental Airlines, Chase offered one “OnePass” mile for every two dollars spent on both PIN and signature purchases. Chase has since launched a business debit card version of the program. In 1998 Chase took over the Continental co-branded credit card program from Marine Midland Bank. Chase charges a $30 annual fee for the card. Key says details of their program will be announced in several weeks. However, Key said it will offer additional bonuses upon program enrollment, and when the card is used to buy tickets for Continental flights. Existing or new Key clients will have the option to either enroll in the program to begin earning “OnePass” miles, or to maintain their current debit cards without earning “OnePass” miles. Continental Airlines is the world’s seventh-largest airline and has a hub in Cleveland.

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