FIS Adds Walgreens to Growing Roster of Merchants and Retailers Tapping into the Power of Premium Payback
October 21 2020 - 8:00AM
Business Wire
Key facts
- FIS Premium Payback enables consumers at Walgreens to pay for
purchases with reward points from participating card loyalty
programs.
FIS® (NYSE: FIS) has announced the addition of Walgreens to its
growing list of merchants and retailers using Premium Payback, the
company’s real-time rewards redemption network. Starting this
month, Walgreens customers with eligible payment cards will be able
to tap into their credit card rewards points in real-time to help
pay for in-store purchases.
Walgreens is one of a growing number of merchants to offer its
customers the opportunity to take advantage of this service,
joining companies like Paypal, Shell and BP who are already a part
of the FIS Premium Payback ecosystem.
With FIS Premium Payback, Walgreens customers will be given the
option to “pay with points” at the point-of-sale after they’ve
dipped, swiped or tapped their eligible card. A prompt on the card
terminal will ask the shopper if they want to apply a credit worth
$10 per transaction based on available eligible points.
“Research shows that the ability to use card loyalty points to
make purchases is becoming an increasingly important factor in
consumer decisions on where to shop,” said Bruce Lowthers,
president of Banking and Merchant Solutions at FIS. “By integrating
FIS Premium Payback into its in-store payments network, Walgreens
is taking a bold step to bring new levels of savings and value to
its customers and drive return shopping.”
Thousands of financial institutions representing more than 7,000
card loyalty programs are enrolled in the FIS Premium Payback
ecosystem with up to 37 million eligible cardholders. For more
information on FIS’ award-winning Premium Payback solution, visit
loyalty as a currency solution.
About FIS
FIS is a leading provider of technology solutions for merchants,
banks and capital markets firms globally. Our employees are behind
our company’s mission to advance the way the world pays, banks and
invests by applying our scale, deep expertise and data-driven
insights. We help our clients use technology in innovative ways to
solve business-critical challenges and deliver superior experiences
for their customers. Headquartered in Jacksonville, Florida, FIS is
a Fortune 500® company and is a member of Standard & Poor’s
500® Index. To learn more, visit www.fisglobal.com. Follow FIS on
Facebook, LinkedIn and Twitter (@FISGlobal).
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version on businesswire.com: https://www.businesswire.com/news/home/20201021005053/en/
Kim Snider, +1 904.438.6278 Senior Vice President FIS Global
Marketing and Communications kim.snider@fisglobal.com
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