back Back

FIS adds Walgreens into the power of premium payback

By Pavithra R

October 22, 2020

  • FIS
  • USA
  • Walgreens
Share

Financial service technology provider FIS has announced the addition of Walgreens to its growing roster of merchants and retailers using Premium Payback, the company’s real-time rewards redemption network.

Walgreens is an American company that operates as the second-largest pharmacy store chain in the United States. Starting this month, the company’s 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. 

With FIS Premium Payback, Walgreens customers can opt to “pay with points” at the point-of-sale (POS) 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. 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,” said Bruce Lowthers, president of Banking and Merchant Solutions at FIS.

Walgreens is among the growing number of merchants like Paypal, Shell and BP offering its customers this opportunity. Thousands of FIs representing more than 7,000 card loyalty programs are enrolled in the FIS Premium Payback ecosystem with up to 37 mn eligible cardholders.

Established since 1968, FIS is a provider of technology solutions for merchants, banks, and capital markets firms globally. It is a Fortune 500 company and is a member of Standard & Poor’s 500 Index. The FinTech supports real-time payments across the globe, processing instant transactions in 24 countries including the United States, India, China, Australia and the U.K.

Previous Article

October 22, 2020

Visa rolls out Tap to Phone digital payments; turning Android devices to payment acceptance machines

Read More
Next Article

October 22, 2020

Mastercard signs Statement of Work agreement with Identitii

Read More






IBSi Daily News Analysis

June 21, 2024

FIS

Industry experts react after India FIU fines Binance $2.2m, signaling tougher digital asset regulations

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

June 21, 2024

MECCA & Adyen to offer a seamless payments experience in Australia

Read More

June 21, 2024

Vipps, MobilePay launch cross-border P2P payments in the Nordics

Read More

June 21, 2024

FinTech Focus: Catch latest developments of the week

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q1 2024
Global Digital Banking Vendor & Landscape Report Q1 2024
Know More
Wealth Management & Private Banking Systems Report Q1 2024
Wealth Management & Private Banking Systems Report Q1 2024
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023