FIS Premium Payback Aims to Enhance Savings and Convenience for Bilt Members
MWN-AI** Summary
FIS, a leading global financial technology company, has announced a partnership with Bilt to enhance the experience for Bilt Members through its Premium Payback solution. This innovative program allows customers to directly redeem their Bilt-issued reward points at participating merchants, promoting instant savings at the point of sale. Starting today, Bilt Mastercard cardholders will have the opportunity to utilize this feature, with a full rollout to all eligible Bilt Members anticipated in the third quarter of 2025.
Launched in 2021, Bilt aims to transform the landscape of payments and consumer rewards, enabling users to earn benefits from everyday housing and neighborhood expenditures. FIS’s Premium Payback solution is designed to streamline the rewards redemption process, making it more convenient for cardholders to redeem loyalty points when making purchases. This initiative addresses the increasing demand for more effective loyalty programs, particularly as the current economic climate encourages consumers to seek ways to maximize the value of their money.
Mladen Vladic, head of Products and Services for Loyalty at FIS, emphasized the importance of seamless technology to enhance customer loyalty and engagement, stating that every payment card program represents a critical opportunity for competitive advantage. FIS Premium Payback connects participating issuers with merchants to facilitate immediate rewards, reducing friction and delays typically associated with loyalty programs.
Brandt Smallwood, chief strategy officer at Bilt, expressed enthusiasm about the partnership, highlighting that the Premium Payback network will provide members with more options to redeem their points at their favorite local shops. This collaboration signifies a step forward in FIS's loyalty business strategy, showcasing its innovation in financial technologies.
MWN-AI** Analysis
The recent partnership between FIS and Bilt to introduce the Premium Payback solution represents a significant evolution in consumer loyalty and rewards programs. As a financial analyst, it's essential to consider this development from both consumer and investment perspectives.
Bilt’s integration of FIS's Premium Payback at checkout enables consumers to redeem rewards instantly, creating immediate savings when shopping. This approach capitalizes on current consumer trends, where loyalty programs are increasingly valued for their convenience and immediate gratification. According to Snappy's 2024 Customer Loyalty Study, 76% of Americans are inclined to spend more when engaged with loyalty programs. This shift indicates that platforms offering seamless redemption options will likely see heightened customer loyalty, which can lead to increased transaction volumes for both Bilt and FIS.
From an investment standpoint, FIS, listed on NYSE, is poised to benefit from this integration through expanded market penetration and enhanced partnerships. The ability to connect cardholders directly with participating merchants streamlines the purchasing process, reducing friction and enhancing customer satisfaction. As FIS expands its loyalty solutions, it sets itself apart in a competitive financial technology landscape, potentially attracting more clients seeking to improve their loyalty programs.
Investors should monitor FIS’s performance closely as it rolls out the Premium Payback solution. Key performance indicators such as user engagement rates, transaction growth, and merchant participation will provide insights into the success of this initiative. Additionally, the scalability of the Premium Payback network could present opportunities for FIS to further negotiate partnerships with other businesses, ultimately driving growth.
In summary, the FIS-Bilt collaboration has the potential to enrich customer experience and stimulate growth in both companies, which could resonate positively in the financial markets as these initiatives unfold.
**MWN-AI Summary and Analysis is based on asking OpenAI to summarize and analyze this news release.
Key Facts
- FIS’ award-winning Premium Payback solution has been selected by Bilt to let customers directly redeem their Bilt-issued reward points at participating merchants.
- Eligible Bilt Members will be empowered to use their rewards points easily at checkout, allowing them to save money instantly when shopping.
- Starting today, Bilt Mastercard cardholders will be the first to be able to redeem Bilt Points at the point of sale, with Bilt starting to roll out the solution to all eligible Bilt Members in the third quarter of 2025.
FIS ® (NYSE: FIS), a global leader in financial technology, today announced that its Premium Payback solution has been chosen to power the real-time rewards redemption process for Bilt. Launched in 2021, Bilt is the pioneering payments and commerce network that transforms housing and neighborhood spending into rewards and benefits for everyone involved. With Premium Payback, customers can see their money work more effectively, allowing them to unlock savings at checkout.
“The current economy is significantly increasing the demand for loyalty programs that maximize the utility of money, but inadequate technology can complicate the experience cardholders have when redeeming loyalty points, hindering the efficient movement of money,” stated Mladen Vladic, head of Products and Services for Loyalty at FIS. “Credit and debit cards continue to play a leading role in the payment experience as money moves between banks, consumers, businesses and beyond in a complex, never-ending cycle. In the fight for customer loyalty, every payment card program is a vital opportunity to seize competitive advantage and drive growth. We’re proud that FIS Premium Payback can help our clients – like Bilt – accomplish these goals.”
The Premium Payback solution from FIS seeks to drive more engaged cardholder behavior for its clients by connecting participating issuers with participating merchants to allow customers to redeem their points directly at the point of purchase, which can provide immediate savings. Displaying offers at the moment of checkout can provide cardholders with an instant benefit and can eliminate the delays and hassles of app sign-ups or downloads, which reduces friction at the point of purchase.
According to the 2024 Customer Loyalty Study from gift-giving company Snappy, 76% of Americans have indicated a willingness to spend more with businesses when they are members of the brand's loyalty program, illustrating the importance of a seamless solution. Premium Payback aims to help loyalty card issuers better meet consumer expectations, experiment with creative promotions, and build a superior customer experience – all of which can drive value, loyalty and revenue.
“We are constantly looking for ways to give our members more ways to redeem their points,” said Brandt Smallwood, chief strategy officer at Bilt. “FIS’ Premium Payback network will allow Bilt Members to redeem their Bilt Points to save on their purchases with some of their favorite merchants in their neighborhood.”
The partnership is one of several new wins for FIS’ Loyalty business in recent months and illustrates its ability to unlock financial technology that advances how the world pays, banks and invests.
FIS is a financial technology company providing solutions to financial institutions, businesses, and developers. We unlock financial technology to the world across the money lifecycle underpinning the world’s financial system. Our people are dedicated to advancing the way the world pays, banks and invests, by helping our clients to confidently run, grow, and protect their businesses. Our expertise comes from decades of experience helping financial institutions and businesses of all sizes adapt to meet the needs of their customers by harnessing where reliability meets innovation in financial technology. Headquartered in Jacksonville, Florida, FIS is a member of the Fortune 500® and the Standard & Poor’s 500® Index. To learn more, visit FISglobal.com . Follow FIS on LinkedIn , Facebook and X .
View source version on businesswire.com: https://www.businesswire.com/news/home/20250403884700/en/
For More Information
Kim Snider, 904.438.6278
Senior Vice President
FIS Global Marketing and Communications
kim.snider@fisglobal.com
FAQ**
How does FIS' Premium Payback solution, developed by Fidelity National Information Services Inc. FIS, enhance the customer experience for Bilt Members during the checkout process?
What competitive advantages does Fidelity National Information Services Inc. FIS aim to provide to Bilt through the Premium Payback solution in the evolving loyalty program market?
In what ways can the collaboration between Bilt and Fidelity National Information Services Inc. FIS drive customer loyalty and enhance consumer engagement with loyalty points?
How does the implementation of Premium Payback reflect Fidelity National Information Services Inc. FIS's strategy in responding to consumer expectations for seamless loyalty program solutions?
**MWN-AI FAQ is based on asking OpenAI questions about Fidelity National Information Services Inc. (NYSE: FIS).
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