Verifone, FIS team to let consumers pay for purchases with rewards points

Dive Brief:

  • Electronic POS solutions provider Verifone and financial services processor Fidelity National Information Services (FIS) have partnered to enable credit and debit card holders to use loyalty program points to pay for items at the point of sale.
  • The new Verifone Points Redemption merchant application, available for free download from the open, cloud-based Verifone Commerce Platform, connects to the FIS Premium Payback Network through digital payments startup Modo’s COIN Operated Digital Payment Hub to allow third-party loyalty programs to participate.
  • Eligible cardholders only need to swipe, dip or tap their card at a participating retailer to pay for their purchases with loyalty points. When a shopper presents a loyalty-linked card payment on a Verifone device, it will prompt them automatically if enough points are available to pay for their items.

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