A partnership between Verifone and payment technology vendor FIS will enable shoppers to pay for purchases with the loyalty program points they’ve accrued via their credit and debit cards. The Verifone Points Redemption application connects to the FIS Premium Payback Network to allow third-party loyalty programs to participate. Merchants download the free app to their devices from the Verifone Commerce Platform, and eligible cardholders can swipe, dip or tap their cards at participating retailers’ point-of-sale to pay for their purchases with points.
“We are helping merchants and consumers realize the value of loyalty programs by bringing points redemption to the shopping experience right where it counts — at the checkout,” said Glen Robson, EVP and Head of Verifone Solutions in a statement.
When a shopper presents a loyalty-linked card payment on a Verifone device, it will provide an automatic prompt when enough points are available to pay for the items. The “yes or no” prompt is specifically designed not to slow down the checkout process. The connection between Verifone and FIS is being powered by Modo’s COIN operated Digital Payments Hub.
The FIS Premium Payback network supports loyalty points redemption at thousands of gas stations nationwide for 8.5 million consumers from 3,100 banks.