Walmart gets onboard with FIS Premium Payback network — Retail Technology Innovation Hub

Walmart is joining Premium Payback, a real-time rewards redemption network from FinTech big hitter FIS.

This will give consumers the opportunity to redeem their credit card rewards points for real-time discounts at more than 4,700 Walmart[1] stores across the US.

Those using eligible cards will be prompted at checkout with the option to turn their card rewards currency into discounts, which will be deducted from their purchase amount.

"Walmart's mission is to help customers save money so that they can live better, and FIS[2] Premium Payback allows customers to enjoy the benefits of their rewards in real-time at checkout," says Mike Cook, Senior Vice President and Assistant Treasurer at Walmart.

"Today's busy consumer is looking for a frictionless shopping experience, and our partnership with FIS makes paying with points as simple as a single prompt at the point of sale."

"More than ever, credit card rewards are a driving motivator for how and where consumers make purchases.

We are excited to partner with Walmart and card issuers to bring Premium Payback to consumers who can benefit from this new way to pay for their purchases," says John Durrant, President of Banking and Payment Solutions at FIS.

"Major players like Walmart come to FIS because we have the innovative technology solutions to enable these experiences that deliver significant value and savings to consumers across the US."

References

  1. ^ Walmart (retailtechinnovationhub.com)
  2. ^ FIS (retailtechinnovationhub.com)