Premium Payback: Real-time Loyalty Redemption Scores at Fuel Pump for BP
October 17 2016 - 4:15PM
Business Wire
Key facts
- Nationwide roll out of Premium Payback, FIS’ real-time loyalty
program, allows users to redeem points for discounts.
- Sales increased at BP stations during a pilot test at 7,000
stations across the United States.
- Nearly one in five points redeemers said they chose a gas
station based on the ability to use points.
FIS Premium Payback™, a real-time, point-of-sale redemption
solution from FIS™ (NYSE: FIS), a global leader in financial
services technology, is rolling out nationwide following a
successful pilot program with BP, one of the world’s largest oil
and gas companies.
The unique solution, which connects millions of consumer payment
cards with loyalty programs to a redemption option at the point of
sale, is being rolled out across all FIS loyalty clients. It allows
retail loyalty programs to be connected to FIS’ broader loyalty
network, thus offering more redemption options to consumers.
In the pilot program, more than 7,000 BP gas stations across the
United States used FIS technology to allow consumers to redeem
rewards points for real-time discounts using just a single swipe of
their payment card. Customers were able to redeem rewards points
for 50 cents off each gallon of gas up to 20 gallons.
Premium Payback scored for BP when it was added to the fuel
provider’s existing rewards program. Pilot results showed
meaningful increases in the number of card holders participating at
BP stations, as well as a nearly 3% increase in use of BP by
account holders who used their cards for gas. Eighteen percent of
points redeemers also said they chose BP because of the loyalty
program. Meanwhile, 56% of consumers in the program said gas
discounts were a better value than other redemption options, and
88% said they would redeem points for gas discounts again.
Premium Payback is far from a gas-only solution, however. Highly
adaptable, it can be used at any merchant point-of-sale to reward
customers, drive loyalty and increase engagement.
“Demand for loyalty solutions is growing among consumers,
particularly for solutions that meet their needs,” said Bruce
Lowthers, EVP and president, FIS Global Retail Payments. “By
combining consumer engagement, redemption velocity, POS
integrations and more, financial institutions and retailers can
drive new revenue opportunities and increase consumer loyalty.”
FIS has more than 25 years of experience operating card
marketing and loyalty rewards programs for many of the largest
retailers and financial institutions. It has more than 6,800
individual loyalty programs nationwide.
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, visit
www.fisglobal.com.
Follow FIS on Facebook (facebook.com/FIStoday) and Twitter
(@FISGlobal).
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version on businesswire.com: http://www.businesswire.com/news/home/20161017006247/en/
Kim Snider, 904.438.6278Senior Vice PresidentFIS Global
Marketing and Communicationskim.snider@fisglobal.com
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