Reinventing the Consumer Shopping and Rewards Redemption Experience - Deep Insights from FIS and Verifone's Partnership
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Reinventing the Consumer Shopping and Rewards Redemption Experience Deep Insights from FIS and Verifone’s Partnership Cassie Boutelle VP, Loyalty Products Dan Poswolsky Head of Value Added Services
Loyalty Landscape – What are we Solving For?
1/3 26%
$60B
in rewards liability across
of all rewards go
unredeemed
each year
growth in rewards
program
participation since
last census
all loyalty programs in
> 1/5 2.3x
non-redeemers
North America more than 1/5 of
members have never
are 2.3X more
likely to defect
made a redemption than those who did
in last 12 months
Number of loyalty programs
the average U.S. consumer
belongs to:
13.4 Number of loyalty programs
the average U.S. consumer
is active in:
6.7
Sources: The Financial Brand and the 2016 Colloquy Loyalty Census 2
How FIS and Verifone are Reinventing the Consumer Experience
to Drive Engagement
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• When a shopper presents a loyalty-linked card payment on a
Verifone device, it will prompt them automatically when
enough points are available to pay for their items,
eliminating the hassle of vouchers or ordering gift cards.
• The yes or no prompt is quick and easy and specifically
designed not to slowdown the checkout process
FIS has Quietly Established a Leadership Position in Customer
Loyalty
• 40+ years in the FinTech industry
INDUSTRY • 9 of top 10 global banks
EXPERTISE • 18 of the top 25 US retailers
• 3,100 loyalty specific clients
SOLUTION
BREADTH
Proven Custom
Scalable Full Service Solid Consulting
Partnerships Design and
Solutions Support Infrastructure Services
Options
Premium Payback – How it works
Consumer can
redeem for a
discount in fuel
Consumer uses Consumer earns
card everyday rewards points
Consumer now has
TWO (2)
redemption models
Consumer can
redeem for a full
pay purchase at
Verifone
5Existing and in Process Integration Points
FIS’ solution breadth, market reach, client relationships and industry expertise enables us to create a redemption
network that will transform the market.
Other Loyalty Big Box
Providers Retailers
LOYALTY
Other Future
SERVICES
Quick Service
Financial Institutions Restaurants
Convert
Other Loyalty
Providers Aggregate
Redeem FIS MPS
Other Future
Exchange
Financial Institutions Mobile Apps
Settle
Other Loyalty Mobile Wallets
Providers 6Current In-Market Success
90%
Likelihood of purchasing gas at
retailer if points WERE NOT available
for redemption
88% 90%
88%
rated their
Not Likely
experience for
18% would redeem redemption as a
their points again 5 (the best) or 4
rated their experience
Somewhat Likely
would redeem their for redemption as a 5
23% points again at (the best) or 4
the POS
Likely
25% 56%
Very Likely
3%
felt gas discounts
were a better value
34% than other
redemption options
of accounts began
0% 10% 20% 30% 40% transacting at retailer
more often
7Verifone is a Company that is Essential to the Payments Industry
Verifone’s Commerce Platform Unlocks the Full Potential of
the Terminal
Today: The Future:
No Easy Way To Innovate. Commerce Platform.
• Any enhancements or changes to Terminal • Secure commerce architecture (SCA) removes
or POS require re-certification the POS from certification process
• Proprietary systems with outdated • Ability to create value-added apps without
technology requiring re-certification
• Custom development needed for different • Single application development framework with
terminal types and POS systems an open architecture that supports HTML,
JavaScript, and CSS
• Ability to create apps in a way that seamlessly
works across multiple terminal types and POS
systemsCommerce Platform Consists of Six Core Elements
Developer SDK + Tools App
1 2 3 4 5 6
Portal Marketplace
Estate Owner
Portal
Merchant
Portal
Commerce
Gateway +
Services
Verifone Points Redemption will be one of our first applications
available in the App MarketplaceThe Points Redemption App Delivers a Unique Value Proposition
Consumer Benefits Merchant Benefits Issuer Benefits Acquirer Benefits
Increased buying power Drive incremental sales growth Drives top of wallet status Offer merchants new payment
methods that they are unable to
More utility / perceived value Compatible with merchant’s Point burn optimization – get elsewhere
from points own points program high value / low cost
redemption Receive revenue share per
Easy way to redeem points Competitive solution to online redemptions
payment methods
More access to deals and offers Increase merchant loyalty by
Cross marketing opportunities creating new experiencesConsumer Experience
2 3
1. Advertisement 2. Payment 3. Redeem Rewards 4. Confirmation 5. Settle
Customer sees ad for 4 Customer pays as usual If customer has enough Issuer settles with
After Transaction, customer
Pay with Points points, customer is merchant through
sees confirmation on
automatically prompted to traditional means and
screen and on the receipt
pay with points customer receives
statement creditMerchant Experience
• FREE for merchants
• The application is either
- Pre-loaded on their terminal
- Available for download from the
Commerce Platform App Marketplace
• Merchants receive quarterly transaction
reports and will later receive access to a
reporting portalLoyalty Program Experience
Loyalty Program has control
over on-screen messaging
Loyalty Program has
control over design
aspects of user
experience (i.e.
background color, logo,
logo placement)
Loyalty Program can select
which merchants have
access to their loyalty
rewardsQuestions?
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