Newer models are changing this dynamic by enabling rewards to function as payment value at checkout, improving utilisation while aligning incentives across consumers, issuers, and merchants, as per data. Amit Koshal, fFounder & CEO, TWID says “When rewards become instantly usable, they start behaving like real purchasing power. The opportunity—and responsibility—for the ecosystem is to ensure this liquidity helps households manage expenses better, without encouraging invisible overspending.”

Source: Economic Times January 24, 2026 11:23 UTC