American Express (NYSE: AXP) and VeriFone Systems, Inc. (NYSE: PAY) today announced a new partnership that enables eligible Card Members to use Membership Rewards points from American Express for their fare in NYC taxi cabs – in real-time, on the Taxi TV screen at the end of the ride.
The program will roll out on VeriFone’s in-taxi devices that process more than 200,000 payments a day in more than 7,000 cabs throughout NYC. And today’s announcement means these VeriFone taxi cabs can accept Membership Rewards points, just as they already accept credit card payments.
At the end of the ride, Card Members who have chosen to pay with “Credit” will be prompted by the Taxi TV screen to swipe their Card, as usual. When American Express Card Members swipe an eligible Card enrolled in the Membership Rewards program – and if there are enough points in their account – they will receive an on-screen prompt giving them the option to use points for their ride fare, including tip and tolls.
“Our world-class Membership Rewards program is valued by our most loyal and engaged Card Members and merchants. With this announcement, we're leveraging our unique technology to bring it to life at the most critical commerce touchpoint – the physical point of sale,” said Leslie Berland, senior vice president, Digital Partnerships and Development at American Express. “As a company with 163 years of roots in lower Manhattan, it means even more to be able to debut this new utility in the iconic New York yellow cabs in partnership with VeriFone.”
"Today in partnership with American Express, VeriFone is demonstrating once again the ability of its platform to serve as the quickest path to creating new consumer choice, engagement and value at the physical point of sale," said Amos Tamam, senior vice president, Taxi Systems at VeriFone. “Whether mobile wallets, alternative payments or value-added services, VeriFone can deliver any technology that merchants want and consumers use.”
How to Ride with Points:
- NYC cabs that accept Membership Rewards points for redemption will feature a video explaining the program immediately following the Taxi and Limousine Commission welcome message on the Taxi TV screen.
- At the end of the ride, Card Members follow the existing prompts to choose “Credit,” add a tip and then swipe or tap an eligible American Express® Card.
- Before the payment is processed, Card Members will be shown the number of points required to redeem for the ride, and on-screen buttons labeled “Use Points” or “No Thanks." Card Members that choose “Use Points” will receive on-screen confirmation that the points have been redeemed. If a Card Member chooses “No Thanks,” or does nothing, the payment will be processed as usual.
Flexible Rewards for Purchases Big and Small
Card Members already use Membership Rewards points for travel, retail purchases and special access to events and entertainment. Today’s development builds on American Express’ commitment to meeting the needs and preferences of Card Members, whether that means redeeming thousands of points for a vacation to Italy or hundreds of them for a ride to Little Italy.
NYC: If You Can Make it There…
New York City yellow taxis powered by VeriFone provide transportation to more than 300,000 New Yorkers and visitors per day, and 100 million per year. For merchants, this type of program opens up potential opportunities to generate repeat business by delivering payment flexibility to Card Members on the go.
About the Membership Rewards Program
The Membership Rewards program from American Express offers more than a million rewards from more than 500 brands. The program allows Card Members to earn one point for virtually every dollar charged on eligible, enrolled American Express Cards, with many opportunities to earn points faster. Membership Rewards points are redeemable in a wide selection of reward categories. Points have no expiration date, and there is no limit on the number of points a Card Member can earn. For more information about the Membership Rewards program, visit: membershiprewards.com or call 1-800-AXP-EARN (297-3276).
About American Express
American Express is a global services company, providing customers with access to products, insights and experiences that enrich lives and build business success. Learn more at americanexpress.com and connect with us on facebook.com/americanexpress, twitter.com/americanexpress and youtube.com/americanexpress.
About VeriFone Systems, Inc. (www.verifone.com)
VeriFone Systems, Inc. (“VeriFone”) (NYSE: PAY) is the global leader in secure electronic payment solutions. VeriFone provides expertise, solutions and services that add value to the point of sale with merchant-operated, consumer-facing and self-service payment systems for the financial, retail, hospitality, petroleum, government and healthcare vertical markets. VeriFone solutions are designed to meet the needs of merchants, processors and acquirers in developed and emerging economies worldwide.