FIS and Bilt Join Forces to Revolutionize Loyalty Point Redemption with Premium Payback
FIS, a leading player in global financial technology, has partnered with Bilt, a revolutionary payments and commerce network, to enhance the way members can redeem loyalty points. This collaboration aims to provide a seamless, real-time experience at the point of sale, significantly improving customer satisfaction and engagement.
Overview of the FIS and Bilt Partnership
The new partnership between FIS and Bilt focuses on enhancing loyalty point redemption for Bilt members. By integrating FIS’ Premium Payback solution, users can now enjoy instant savings on everyday purchases, especially with local merchants.
Benefits of the Premium Payback Solution
- Instant Savings: Users can apply loyalty points directly at checkout, resulting in immediate discounts.
- Simplified Process: The integration eliminates the need for additional app downloads or complicated enrollment, thus reducing friction.
- Enhanced Customer Experience: Streamlined redemption processes are designed to enhance overall customer satisfaction.
Aligning with Modern Consumer Preferences
Bilt’s approach to loyalty rewards focuses on transforming everyday rent and neighborhood spending into a robust rewards program. This strategy resonates particularly well with younger consumers who prioritize financial convenience and seamless experiences.
Impact on Loyalty Programs
According to the 2024 Customer Loyalty Study by Snappy, 76% of Americans are more likely to spend with brands that offer loyalty programs. This statistic highlights the significance of efficient redemption technologies like FIS’ Premium Payback in driving consumer spending.
Statements from Leadership
Mladen Vladic, head of products and services for loyalty at FIS, emphasized the growing demand for loyalty programs that enhance financial utility. He noted, “Inadequate technology can complicate the experience cardholders have when redeeming loyalty points, hindering the efficient movement of money.”
Brandt Smallwood, chief strategy officer at Bilt, added, “We are constantly looking for ways to give our members more options to redeem their points. FIS’ Premium Payback network will allow Bilt Members to save on their purchases with local merchants they love.”
Conclusion
This partnership marks a significant step forward for both FIS and Bilt as they innovate in the loyalty and payments landscape. By embedding advanced financial technology into everyday spending experiences, they are poised to enhance customer engagement and satisfaction. For more information about Bilt and its rewards program, visit their official website.
