Currensea Launches Miles & More Rewards Debit Card with Lufthansa and Mastercard

Miles & More, the Lufthansa Group’s loyalty programme, has launched a co-branded multi-bank debit card in the UK in partnership with Currensea and Mastercard. This move allows fintech users to earn travel rewards on daily spending without opening new bank accounts, leveraging open banking to integrate loyalty directly into existing consumer financial habits.

What was announced

The new Miles & More Debit Card is designed specifically for the UK market, offering a streamlined way for members to accumulate miles through their everyday debit spending. Unlike traditional loyalty cards that require a dedicated credit line or a new bank account, this card links directly to a customer’s existing bank account. It operates wherever Mastercard is accepted, removing the friction of topping up separate accounts or managing multiple balances.

The rewards earned through the card are redeemable for Award Flights, upgrades, and various other benefits across the Lufthansa Group’s network, which includes Lufthansa, SWISS, Austrian Airlines, Eurowings, and Brussels Airlines. A key feature of the card is its ability to prevent the expiration of miles, including those previously earned by the member. The group’s airlines currently serve 330 destinations across approximately 100 countries.

To incentivise early adoption, the partners have introduced a doubled earn rate for the first year, allowing cardholders to earn 1 mile for every £1 spent within the UK. This matches the permanent rate for international spending. Purchases made directly with Lufthansa Group airlines attract an enhanced rate of 2 miles per £1. Furthermore, spending can be converted into Points and Qualifying Points once per year to help members achieve higher Miles & More status levels. The card also offers a welcome bonus of up to 15,000 miles in the first year, contingent on spending thresholds, and includes travel perks such as priority check-in at London Heathrow, a Business Lounge voucher, and 6GB of global travel data.

"Our vision is to shape loyalty for generations to come. With this new card, we are making Miles & More more accessible to a broader audience in the UK, enabling them to turn everyday spending into meaningful travel rewards. Together with Currensea and Mastercard, we are creating a simple, flexible and rewarding experience that helps members get closer to their next journey with Lufthansa Group."

Gerald Schlögl, Managing Director of Miles & More GmbH.

The companies involved

Currensea is a UK-based payments technology platform specialising in co-branded multi-bank debit cards. Co-founded by James Lynn, who serves as CEO, and Craig Goulding, the company utilises open banking infrastructure to allow consumers to spend directly from their existing bank accounts while accessing competitive foreign exchange rates. By eliminating the need for prepaid cards or new current accounts, Currensea has positioned itself as a bridge between traditional banking and specialised reward or FX services.

The Lufthansa Group is one of Europe’s largest aviation conglomerates, encompassing several major carriers including SWISS, Austrian Airlines, Brussels Airlines, and the low-cost carrier Eurowings. Its loyalty programme, Miles & More, is the largest frequent flyer and awards programme in Europe. Mastercard, a global leader in payment technology, provides the underlying network for the card, ensuring international acceptance. This partnership brings together a major airline group's loyalty ecosystem with a fintech's agile infrastructure and a global payment giant's reach, targeting a UK consumer base that is increasingly looking for value in a high-inflation environment.

What FF News has reported before

FF News has maintained consistent coverage of the partners involved in this launch. Mastercard’s ongoing commitment to the fintech sector was recently highlighted when Mastercard Lighthouse Names 20 Fintech and Impact Startups for Fall Cohort, demonstrating the network's role in scaling innovative payment solutions. We have also tracked the activities of the Lufthansa Group and its subsidiaries, including SWISS, Austrian Airlines, and Brussels Airlines, as they navigate the evolving travel and loyalty landscape. Additionally, FF News has reported on the regulatory environment in the UK, including the FCA Warns Students Over £1.5Bn in Forgotten Child Trust Funds, reflecting the broader financial context in which UK consumers are managing their assets and spending.

What this means

This announcement signals a shift in the loyalty market, moving away from the "walled garden" approach of traditional credit cards. By opting for a debit model linked via open banking, Miles & More is targeting a demographic that may be credit-averse or simply prefers the simplicity of debit spending. This puts significant pressure on traditional high-fee travel credit cards that have historically dominated the rewards space. The inclusion of travel data and lounge access suggests that loyalty programmes are now competing on utility and lifestyle perks rather than just points. It raises a broader industry question of whether the future of loyalty lies in invisible integration with existing bank accounts rather than standalone financial products.