JACKSONVILLE, Fla., April 21, 2011 – FIS™ (NYSE: FIS), the world’s largest provider of banking and payments technology, today announced that it has launched ScoreMore™ Rewards, a new cardholder loyalty program with the unique benefit of no additional administrative fees to participating financial institutions.
An extension of FIS’ existing ScoreCard® loyalty program, ScoreMore Rewards is a full-service, merchant-funded rewards program. Cardholders are rewarded with additional bonus points for shopping at select national, regional and local retailers. In addition, financial institutions receive financial credit for bonus points earned by their customers who are ScoreMore Rewards participant cardholders for purchases made through the network of more than 8,000 participating retailers. There are 4 million card accounts currently benefiting from ScoreMore Rewards.
The ScoreMore Rewards program allows financial institutions to offer more value to their cardholders with the ability to earn bonus points more quickly, as well as to create value for retailers as consumers are more likely to frequent a retailer that offers bonus points. Because the bonus points offered through ScoreMore Rewards are guaranteed by FIS, there is no risk to the client for receiving the points. In addition, the ScoreMore Rewards program accumulates points more rapidly than the 30 – 60 days of traditional rewards programs – allowing the customer access to their bonus points more closely to the time of the transaction. Customers can also visit the ScoreCard Web site where they can search for offers based on a key word, retailer category, retailer type or bonus points award offer.
“We are very excited to be launching the ScoreMore Rewards loyalty program,” said Frank D’Angelo, executive vice president, FIS Payment Solutions Group. “The Durbin Amendment has made it very difficult for financial institutions to offer loyalty programs to their customers due to the reduction of interchange revenue. The new ScoreMore Rewards program takes the burden of offering a loyalty program off the shoulders of the financial institution and provides them with the means to offer a new and exciting program for their customers – all at no cost to them.”
About FIS
FIS (NYSE: FIS) is the world’s largest global provider dedicated to banking and payments technologies. With a long history deeply rooted in the financial services sector, FIS serves more than 14,000 institutions in over 100 countries. Headquartered in Jacksonville, Fla., FIS employs more than 32,000 people worldwide and holds leadership positions in payment processing and banking solutions, providing software, services and outsourcing of the technology that drives financial institutions. FIS is a member of Standard & Poor’s 500® Index and consistently holds a leading ranking in the annual FinTech 100 list. For more information about FIS, visitwww.fisglobal.com.
Forward-Looking Statements
This news release contains forward-looking statements that involve a number of risks and uncertainties. Statements that are not historical facts, including statements about our beliefs and expectations, are forward-looking statements. Forward-looking statements are based on management’s beliefs, as well as assumptions made by, and information currently available to, management. Because such statements are based on expectations as to future economic performance and are not statements of fact, actual results may differ materially from those projected. We undertake no obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise. The risks and uncertainties which forward-looking statements are subject to include, but are not limited to: changes in general economic, business and political conditions and other risks detailed in the “Statement Regarding Forward-Looking Information,” “Risk Factors” and other sections of the Company’s Form 10-K and other filings with the Securities and Exchange Commission.