NEW YORK, Oct. 21, 2013 /PRNewswire/ -- 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.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV