Microsoft Corp.MSFT announced the launch of Xbox credit cardin partnership with Mastercard IncMA .

The Xbox Mastercardwill be issued by Barclays BCS with no annual fees but with many benefits for U.S. Xbox users, whowill be able to use the service from Sept. 21, 2023, across all 50 states. The credit card will become available to the general public some time in 2024.

We've heard feedback from the Xbox community that they want more ways to get value for their purchases, Xbox Player Services Corporate Vice President Dave McCarthy said in the press release.

What are the other Industry Experts saying? Meet and engage with transformativeDigital Asset and Cryptobusiness leaders and investors at Benzinga's exclusive event:Future of Digital Assets. Tickets are flying:Get yours!

The card will enable players to earnpoints with daily purchases to redeem on games and add-ons at the gaming website.

An initial bonus of 5,000 points will beoffered on the first purchase. Additionally, the card features benefits for its use on Microsoft store purchases which include earning five times card points on certain purchases and three times points for certain streaming service payments such asNetflix and Disney+ and dining delivery services including Grubhub and DoorDash.

In 2005, Microsoft offered an Xbox Live Diamond loyalty card to its live subscriber base which provided discounts at participating retailers.

Also Read: YouTube Challenges Microsoft and Nvidia with Playable Games Trial

Sony Group Corp SONY also offers its own PlayStation credit card with a points-based system that can be redeemed against games, movies, electronicsand more.

Read Now: Sony Announces PlayStation Plus Price Hike Following Xbox Game Pass Subscription Rise

See what other fintech companies are looking at;meet and engage with transformativeFintech businessleaders and investors at Benzinga's exclusive event:Fintech Deal Day. Tickets are going fast:Get yours!

Photo: Barclays via Cison, PR Newswire