Verifone and FIS, the payment companies, announced Wednesday (Jun. 11) they are collaborating to enable consumers to pay with loyalty points that are linked to credit or debit cards at the point of sale.
In a press release, the companies said Verifone developed an application dubbed Verifone Points Redemption, which connects the FIS Premium Payback Network to provide a secure and quick way to access third-party loyalty programs. Merchants can download the free app on their device. Eligible cardholders would need to swipe, dip or tap their card at participating retailers to pay with the points they have accumulated. The connection between Verifone and FIS is being powered by Modo’s COIN operated Digital Payments Hub, which connects new digital experiences with payment systems round the world.
Read the full article here.