In a new move that leverages technology and offers shoppers a price break, Walmart is joining Premium Payback from financial services technology provider FIS, which allows customers to use their credit card rewards points to get discounts at checkout.
According to FIS, Walmart customers in the United States can use credit cards to qualify for the discounts. A prompt at checkout for those who use eligible cards will offer customers the option of turning their rewards currency into discounts, which will be deducted from their purchase amount.
Thousands of financial institutions representing more than 7,000 card rewards programs have enrolled in the Premium Payback system, representing up to 45 million eligible cardholders, FIS maintained.
“Walmart’s mission is to help customers save money so that they can live better, and FIS Premium Payback allows customers to enjoy the benefits of their rewards in real-time at checkout,” said Mike Cook, senior vice president and assistant treasurer at Walmart. “Today’s busy consumer is looking for a frictionless shopping experience, and our partnership with FIS makes paying with points as simple as a single prompt at the point of sale.”
