Abstract: Geo-filtered payment product for use in a rewards or incentive program. A program manager server defines a geo-fence and creates a payment product valid within the defined geo-fence. A payment processing server receives a transaction request from a merchant point-of-sale (POS) device to transact a purchase using the payment product on a participant computing device. The payment processing server determines if the participant computing device is located within the defined geo-fence based on the received transaction request, which includes location information, and sends an authorization message to the merchant POS device via the communication network for approving the transaction request when the participant computing device is determined to be located within the defined geo-fence.