Shoppers Experience the Ease and Convenience of
Paying with Points on Verifone Devices
NRF Retail’s Big Show - With the goal to increase the
value and usability of loyalty points, Verifone (NYSE: PAY), a
global leader in payments and commerce solutions, and FIS (NYSE:
FIS), a global leader in financial services and payment technology,
announced a collaboration to enable consumers to pay with loyalty
points linked to their credit or debit cards at the point-of-sale
(POS).
This Smart News Release features multimedia.
View the full release here:
http://www.businesswire.com/news/home/20170111005684/en/
Consumers can now pay with loyalty points
at the retail point-of-sale (Photo: Business Wire)
Verifone developed a new application called Verifone Points
Redemption which connects to the FIS Premium Payback Network to
provide a quick, secure, and easy 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 and eligible cardholders only need to swipe, dip
or tap their card at a participating retailer, 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, executive vice president, Head of Verifone Solutions. “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.”
Research shows that every year up to $16 billion in loyalty
points are left unused or forgotten. FIS’ Premium Payback has shown
the ability to combat that, however. In fact, nearly one of five
Premium Payback users have said they selected merchants based on
the ability to use their reward points.
“Today’s consumers have been digitally empowered and expect
tomorrow’s payment and rewards capabilities today,” said Bruce
Lowthers, executive vice president, FIS Global Retail Payments.
“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.”
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, eliminating the hassle
of vouchers or ordering gift cards. The yes or no prompt is quick
and easy and specifically designed not to slowdown 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 currently supports loyalty
points redemption at thousands of gas stations nationwide for 8.5
million consumers from 3,100 banks.
Visit the Verifone Booth #3543 and FIS Booth #624 at the NRF
Retail’s Big Show January 14-17 in New York City.
Safe Harbor Statement under the Private Securities Litigation
Reform Act of 1995 for VeriFone Systems, Inc.
This press release includes certain forward-looking statements
within the meaning of the Private Securities Litigation Reform Act
of 1995. These statements are based on management's current
expectations or beliefs and on currently available competitive,
financial and economic data and are subject to uncertainty and
changes in circumstances. Actual results may vary materially from
those expressed or implied by the forward-looking statements herein
due to changes in economic, business, competitive, technological
and/or regulatory factors, and other risks and uncertainties
affecting the operation of the business of VeriFone Systems, Inc.,
including many factors beyond our control. These risks and
uncertainties include, but are not limited to, those associated
with: successful rollout of the “With FIS” loyalty solution,
execution of our strategic plan and business initiatives and
whether the expected benefits of our plan and initiatives are
achieved, short product cycles and rapidly changing technologies,
our ability to maintain competitive leadership position with
respect to our payment solution offerings, our assumptions,
judgments and estimates regarding the impact on our business of the
continued uncertainty in the global economic environment and
financial markets, our ability to successfully integrate acquired
businesses into our business and operations, our ability to protect
against fraud, the status of our relationship with and condition of
third parties such as our contract manufacturers, distributors and
key suppliers upon whom we rely in the conduct of our business, our
dependence on a limited number of customers, the conduct of our
business and operations internationally, our ability to effectively
hedge our exposure to foreign currency exchange rate fluctuations,
and our dependence on a limited number of key employees. For a
further list and description of the risks and uncertainties
affecting the operations of our business, see our filings with the
Securities and Exchange Commission, including our annual report on
Form 10-K and our quarterly reports on Form 10-Q. The
forward-looking statements speak only as of the date such
statements are made. Verifone is under no obligation to, and
expressly disclaims any obligation to, update or alter its
forward-looking statements, whether as a result of new information,
future events, changes in assumptions or otherwise.
About Verifone
Verifone is transforming everyday transactions into
opportunities for connected commerce. We’re connecting payment
devices to the cloud—merging the online and in-store shopping
experience and creating the next generation of digital engagement
between merchants and consumers. We are built on a 30-year history
of uncompromised security with approximately 29 million devices and
terminals deployed worldwide. Our people are known as trusted
experts that work with our clients and partners, helping to solve
their most complex payments challenges. We have clients and
partners in more than 150 countries, including the world’s
best-known retail brands, financial institutions and payment
providers.
Verifone.com | (NYSE: PAY) | @verifone
About FIS
FIS is a global leader in financial services technology, with a
focus on retail and institutional banking, payments, asset and
wealth management, risk and compliance, consulting, and outsourcing
solutions. Through the depth and breadth of our solutions
portfolio, global capabilities and domain expertise, FIS serves
more than 20,000 clients in over 130 countries. Headquartered in
Jacksonville, Fla., FIS employs more than 55,000 people worldwide
and holds leadership positions in payment processing, financial
software and banking solutions. Providing software, services and
outsourcing of the technology that empowers the financial world,
FIS is a Fortune 500 company and is a member of Standard &
Poor’s 500® Index. For more information about FIS,
http://www.fisglobal.com.
Follow FIS on Facebook (facebook.com/FIStoday) and Twitter
(@FISGlobal).
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170111005684/en/
VerifoneKwiyoung Baumgarten,
770-754-3460Kwiyoung.baumgarten@verifone.comorFISKim Snider,
904-438-6278kim.snider@fisglobal.com
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