Payment technology firm Verifone and FIS, a financial services and payment technology company, have entered into a partnership to enable consumers to pay with loyalty points linked to their credit or debit cards at the point-of-sale (POS).
The new facility will be offered through a new application, Verifone Points Redemption, developed by Verifone, which connects to the FIS Premium Payback Network to deliver a quick, secure and easy way for third party loyalty programmes to participate.
From the open, cloud-based Verifone Commerce Platform, merchants can download the free app to their device, while the eligible cardholders only need to swipe, dip or tap their card at a participating retailer to pay for their purchases with points.
Once a shopper presents a loyalty-linked card payment on a Verifone device, it will prompt them automatically when enough points are available to pay for their items, removing the hassle of vouchers or ordering gift cards.
Verifone executive vice president and global head of solutions Glen Robson said: “We are helping merchants and consumers realise the value of loyalty programs by bringing points redemption to the shopping experience right where it counts—at the checkout.
“With FIS’ loyalty solution accessible through the cloud on our devices, merchants have a simple way to enhance the checkout experience by offering their customers immediate savings on in-store purchases using points.”
FIS Global Retail Payments executive vice president Bruce Lowthers said: “The single integration point to brick-and-mortar retailers uniquely helps loyalty programs increase member touch points, while our relationship with Verifone expands the reach to bring scalable loyalty points redemption to many more consumers.”