What if consumers could find a gas station, pull up and pre-authorize the fuel pump they choose, get instant rewards such as cents off per gallon or other on-site incentives, then pay directly from their smartphone or other device connection?
The result would be a faster, safer, more convenient transaction that meets the needs of mobile consumers, while also providing merchants and service providers an easy way to deliver more value with their applications and implement a cost-effective mobile strategy.
FIS™ (NYSE: FIS), a global leader in financial services technology, is making that a reality with the launch of BuyWayTM, a mobile payments platform that unites all points of contact within a transaction to deliver seamless, secure, personalized shopping experiences at thousands of gas stations and convenience stores across the nation. Future installations will extend mobile payments to multiple market segments, including parking garages, restaurants and unattended kiosks.
“Digitally empowered consumers are demanding the future of payments today,” said Bruce Lowthers, EVP, FIS Global Retail Payments. “FIS BuyWay offers personalized, hassle-free shopping experiences that position merchants and service providers on the leading edge of payments, motivating and incentivizing consumers to return over and over.”
BuyWay acts as a single point of integration, engaging secure, cloud-based technology that connects apps on a consumer’s digital device or car to a merchant’s point-of-sale (POS) system - eliminating the need for retailers to purchase new hardware. It adds payment functionality to merchant apps, speeds up purchases by eliminating physical contact with the POS and increases security because no card data is passed through the POS. As a single point of integration, it also simplifies deployment and opens new sales opportunities. Importantly, it can be integrated into loyalty rewards programs, allowing instant rewards that drive customer loyalty and complete the customer purchase journey.
BuyWay will also help petroleum merchants accept Chase Pay, a digital payments solution that will provide a convenient, rewarding and secure way to pay in stores using a mobile phone, and on merchant websites, apps and at the pump.
“We are pleased to work with FIS to incorporate Chase Pay into solutions that help petroleum merchants accept mobile payments easily at the pump and in their stores,” said Tom Nipper, executive director of Global Enterprise Solutions for Chase Commerce Solutions.