The article, “Verifone, FIS and Modo are creating a new way for consumers to pay with loyalty points” by TechCrunch talks about how their new system will allow customers to pay for products and services with their loyalty points at locations that offer them. While this is a great way to use an existing service in a new way, I do not believe that it will be that wildly adopted. First of all, the pay with your loyalty software application has to be enabled by the merchant. Some merchants might not enable it based off of the belief that it is too much trouble. Another issue is that in order for the merchants to use this software application, they will need to have a specific Verifone credit card terminal. Hopefully there are a lot of terminals that can use this application because purchasing a new terminal just for this application while the old terminals are still working will be a very big roadblock. The idea is great, but until a more detailed plan is given, I cannot see this service being used by merchants and customers.
Verifone, FIS and Modo are creating a new way for consumers to pay with loyalty points