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.
Read More: FIMBank Strengthens Financial Crime Risk Management Stance with Fiserv
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.”
Read More: Huobi Expands Fiat Gateway to Support AUD, GBP and EUR through Banxa
