Modo has done it again. The AMAZING, nay SPECTACULAR, Modo COIN®-operated Digital Payments Hub is hard at work behind the scenes powering another magical commerce experience. First Klarna, then Bank of America Merrill Lynch, and now we’re partnering with two of the most innovative and respected leaders in payments, Verifone and FIS.
Now, some might say three’s a crowd when it comes to partnerships, but Modo has never been worried about crashing the party in order to play matchmaker and create a more connected and collaborative payments universe. That’s exactly what we’ve done here. This newly forged partnership between Verifone and FIS will enable shoppers to pay at the point of sale using loyalty points linked to a credit or debit card - it’s payments MAGIC!
Freeing up loyalty points is not always easy. Sometimes those points seem like they require Harry Houdini to get them out. How are we supposed to unlock points that are uber difficult to redeem? No need to perform a magic act. We’re giving you the key so you have an entirely new way to purchase your favorite merchandise without using your hard-earned dollars! We’ve helped power this buying experience by connecting Verifone, a global leader in payments and commerce solutions, and FIS, a global leader in financial services technology.
Friends, you now have a new reason to go shopping! You can go to your favorite merchant, find whatever your heart desires, and present your debit or credit card at the Verifone terminal as usual. But now cards linked to banks that are members of the FIS Premium Payback Network will trigger a new offer. Modo’s sleek payment connections enable lightning fast paying with points during a typical checkout. Points to pay for your purchase? Shazzzam! Now that’s how shopping should be. (We'll give you a sneak peek on how it looks, too).
Modo’s patented COIN transaction moves value while beautifully connecting friends like the shiny new Verifone Points Redemption app with the FIS Premium Payback Network. In addition to enabling this easy points redemption experience, Modo provides Verifone and FIS simple solutions to complex settlement, reporting and administrative tools for managing merchants and loyalty programs, as well as real-time status updates on points redemption transactions, like tracking a package on the move!
Not to toot our own horn here, but we couldn’t be excited that two more of the biggest players in our industry are using Modo’s COIN to power their latest innovation. The COIN-operated platform was designed around the idea of enabling existing payments systems to be used in totally new, digital experiences. We couldn’t be more pleased to see that vision taking shape. More to come!