UK credit challenger Yonder has launched two premium debit cards as it seeks to extend its offering beyond credit and give customers access to rewards for their everyday spending.

The company said the new debit cards are designed for users who want to earn rewards without using credit and those who want to split their spending between debit and credit cards.

The cards offer a number of benefits including earning points, no foreign currency fees, special local rewards and travel-friendly benefits.

Both cards work anywhere Mastercard is accepted.

The company offers “Free Debit” and “Full Debit” membership modes, with the latter allowing full access to yonder experiences, higher points per spend and the possibility of travel insurance.

Accumulated points can be redeemed for curated rewards in restaurants, travel, fitness and entertainment, with experiences at well-known retailers and restaurants such as BAO, Urban and Freddie's Flowers, Qatar Airways, Booking.com and boutique hotels across the UK.

Tim Chong, co-founder and chief executive of Yonder, pointed out that many customers prefer debit cards to credit cards.

“Now, you don't need a credit card to earn great rewards, travel perks or fee-free spending abroad,” he said. “Yonder is the everyday card for anyone who wants more out of their money, whether you're booking a flight or grabbing a glass of wine."

The move comes after NatWest completed a minority investment in Yonder in April.

At the time the bank said the investment, the terms of which were not disclosed, will help Yonder grow at speed and scale and enable the company to use its expertise.

NatWest added that the move reinforces its commitment to supporting customers in managing their finances effectively and delivering enhanced customer experiences.

Through Yonder’s engaged membership of millennials and Gen Zs, NatWest said it will continue to develop innovative approaches to personalisation and loyalty rewards, as well as getting even more access to emerging trends with some of its most important customer segments.

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