Bentonville, Arkansas-based Walmart is joining Jacksonville, Florida-based FIS’s Premium Payback, a real-time rewards redemption network.
The addition of Walmart to the Premium Payment network will give millions of consumers the opportunity to redeem their credit card rewards points for discounts at more than 4,700 Walmart stores across the U.S. Customers 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 Premium Payback allows customers to enjoy the benefits of their rewards in real-time at checkout,” said Mike Cook, SVP 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.”
Thousands of financial institutions representing more than 7,000 card rewards programs are enrolled in the FIS Premium Payback ecosystem with up to 45 million eligible cardholders.
“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,” said 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 value and savings to consumers across the U.S.”
To learn more, visit FISglobal.com.
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