FIS Urges Banks to Simplify Rewards at Checkout

Banks and card issuers have traditionally refreshed loyalty programs through incremental changes to points, miles and cash-back formulas. FIS argues that the more consequential battleground is checkout, one of the few moments when financial institutions interact directly with customers in daily commerce. Rewards can lose their perceived value if an offer arrives late, redemption requires extra steps or the benefit feels detached from the purchase, making payment design a driver of both loyalty and attrition.

In a PYMNTS interview published July 22, 2026, Mladen Vladic, head of product for payment networks at FIS, said issuers should treat loyalty as part of their broader payment-card strategy and deliver the right offer to the right customer at the right time. He urged banks to preserve familiar program features while adding merchant-funded offers, alternative reward currencies and other digital experiences through partnerships that can sit atop legacy systems. The report disclosed no transaction value or investment amount, and framed return on investment, rather than institution size, as the key test for adoption.