The Barclaycard Freedom reward scheme has won the award for Best Use of IT in Retail Banking at the Banking Technology Awards 2010.
The accolade recognises Barclaycard's partnership with Welcome Real-time, a company which provides the technology behind the scheme.
Barclaycard Freedom offers UK customers immediate rewards, eliminating the need to collect vouchers and calculate points.
Cardholders earn Reward Money when making purchases with their Barclaycard at participating retailers, which can then be redeemed on future purchases at participating retailers.
Craig Ramsay, Sales Director, Barclaycard Freedom, said: "This is fantastic recognition for the huge technical effort by the teams involved in the run-up to the launch of Barclaycard Freedom.
"This is the second award where the innovative approach within Barclaycard Freedom has been recognised externally and it was a pleasure to be able to accept the award in person, on behalf of the team."
The awards were organised by Banking Technology magazine to recognise excellence in the use of IT in the financial services sector.