Myer has claimed a department store first.
The company has partnered with Commonwealth Bank to allow its credit card customers to instantly redeem rewards points in-store.
Customers can use their award points to purchase merchandise by all or part payment using Points Plus Pay from November 23, 2012.
There are over 1.3 million Commonwealth Awards customers.
Myer One members will also earn Myer One shopping credits on purchases made using Commonwealth Awards points, delivering additional value to its loyalty club members.
Myer chief executive Bernie Brookes said this was a consumer-led collaboration.
“We’re excited to be working with Australia’s biggest financial services provider to give consumers instant rewards on their retail purchases.
"Point-of-sale redemption will give over a million customers more ways to be rewarded as they shop at Myer stores around the country,” he said.
Myer has 68 stores nationally.