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Fidelity National Information Services, Inc. FIS recently unveiled that its Premium Payback solution has been selected to enable real-time rewards redemption for Bilt. Bilt is an innovative payments and commerce network that converts everyday housing and neighborhood expenditures into valuable rewards and benefits for its users.
FIS’ Premium Payback seamlessly connects participating card issuers and merchants, enabling consumers to redeem loyalty points directly at the point of sale. This instant redemption option offers cardholders immediate savings while removing barriers such as the need for app downloads or additional sign-ups, ensuring a smoother checkout experience and fostering stronger cardholder engagement.
On the same date of the announcement of the latest move, Bilt Mastercard holders will be the first to use Bilt Points directly at checkout, as Bilt plans to extend this feature to all its eligible members starting in the third quarter of 2025.
Meanwhile, Premium Payback empowers loyalty card issuers to better align with consumer expectations, explore innovative promotions and deliver a standout customer experience.
The recent move seems to be a time-opportune one, considering U.S. consumers are increasingly drawn to loyalty programs that maximize their spending power. Yet, outdated systems can create hurdles in redeeming points, interrupting the otherwise seamless flow of transactions. Findings from the 2024 Customer Loyalty Study by gift platform Snappy reveal that 76% of U.S. consumers are inclined to spend more with brands offering loyalty programs. In the competitive landscape of customer loyalty, FIS’ Loyalty business can capitalize by advancing financial technologies that enable the dynamic and continuous transfer of funds among banks, consumers and businesses.
Benefits of the Recent Move to FIS
The increased utilization of FIS’ Premium Payback solution is likely to drive the revenues of its Banking Solutions segment. The solution is offered as part of the card and retail payment solutions suite of the unit. Revenues of the Banking Solutions segment improved 2.2% year over year in 2024.
FIS continually prioritizes innovation by investing in cutting-edge technologies and launching solutions that strengthen the payment ecosystem. The company expands its portfolio through continuous software enhancements, strategic acquisitions and equity investments, which allow it to cross-sell a broader range of offerings to its current clients while drawing in new customers.
Additionally, FIS partners with various organizations to deliver integrated, end-to-end solutions tailored to the diverse needs of its clientele. Recently, the company introduced the Securities Finance Matching Platform in the United States, which leverages advanced automated matching technology to provide broker-dealers with a secure, scalable and cost-efficient solution for securities financing.