Cassie Boutelle, Vice President of Loyalty Products, Global Retail Payments at FIS talks about how simplifying transactions for consumers helps merchants create more loyal and engaged customers.
How does FIS help streamline the payment transaction for consumers?
FIS™ continues to be an industry leader by contributing to the internet of commerce things (IoCT). FIS integrated their BuyWay™ and Loyalty Solutions to provide a faster, safer, more convenient transaction experience that meets the needs of mobile consumers. An opportunity has been created – to engage consumers by allowing them to apply discounts, pay for their fuel and redeem on-site rewards from their club card all from a simple interaction with their mobile device. Solving the hassle of keeping track of multiple payment and loyalty cards,
How does FIS’s innovations engage consumers?
FIS created an effortless streamline purchase experience to keep customers coming back – geared to increase loyalty and consumer engagement. The solution will simplify, innovate, integrate, connect, engage and reward.
Can you describe each of these in more detail?
Provides access to all the essential services for merchants to deploy an innovative and profitable mobile strategy without costly replacement of current point of sale systems or additional hardware installations. INTEGRATESupports a complementary set of payment solutions, eliminating the challenge of merchants working with multiple vendors. This comprehensive approach reduces the impact on financial resources, lowers costs and increases profitability.
Secure, cloud-based technology allows a seamless connection between the apps in a consumer’s connected device and the merchant’s POS system, increasing mobility and removing the barriers of using cards for payment.
Creates a hassle-free shopping experience by adding more functionality to apps and speeding up the purchase process by eliminating the need for physical interactions with points of sale.
Provides opportunities to motivate and incentivize consumers. Integrate BuyWay with an existing or FIS retail loyalty program to create customized interactions during the purchase-decision cycle, rewarding consumers for continued loyalty.
What do you see in the future for the Internet of Commerce Things?
Future installations expanding to other market segments, including parking garages, restaurants and unattended kiosks are in the roadmap for this key player. According to Forbes, the Internet of Things (IoT) is projected to grow at an annual compound rate of 23.1% between 2014 to 2020. Knowing that this is crucial, FIS has ensured to be a contributing partner to this futuristic model. Consumers are demanding convenience and FIS is making it possible.