Many challenger banks want to provide a simple banking experience for the underbanked. Point doesn’t have the same positioning. Creating a Point account is more like joining a membership program. When you sign up, you get a debit card with some level of insurance as it’s a Mastercard World Debit card. You can expect some trip cancellation insurance, rental car insurance, purchase insurance, etc. As the name of the startup suggests, you earn points with each purchase. You get 5x points on subscriptions, such as Spotify and Netflix, 3x points on food, grocery deliveries and ride sharing, and 1x points on everything else. Points can be redeemed for dollars — each point is worth $0.01. In addition to that, Point is going to create a feed of offers with discounts, content, events and more.

https://techcrunch.com/2020/07/30/point-wants-to-provide-credit-card-rewards-with-debit-cards/