Verifone, FIS to enable consumers to pay with loyalty points via credit, debit card

Via MobilePaymentsToday

Verifone and FIS have announced a partnership to enable consumers to pay at the point of sale using loyalty points linked to a credit or debit card, according to a press release.

Verifone has developed a new application called Verifone Points Redemption, which connects to the FIS Premium Payback Network to provide a way for third-party loyalty programs to participate. Merchants will be able to download the free app to their device from the open, cloud-based Verifone commerce platform. Eligible cardholders need only swipe, dip or tap their card at a participating retailer to pay for their purchases with points.

When 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. Verifone said the yes or no prompt is quick, easy and 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.

Read full article on this partnership here.

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