FIS Introduces Smart Basket to Simplify and Personalize Payments
FIS Introduces Smart Basket to Simplify and Personalize Payments
FIS is preparing to launch Smart Basket, a real-time, item-level purchase intelligence platform designed to make checkout and payments faster and smarter.
The system combines FIS’s real-time payments gateway, loyalty platform, and spend management tools into one network that optimizes both payments and rewards for every item in a shopper’s basket.
This launch follows research by FIS and Oxford Economics, which found that payment friction costs organizations around $4.9 million annually, with over half citing payment processing as a major challenge.
Why This Matters
Smart Basket aims to reduce inefficiencies across the payment process by adding automation and intelligence at checkout.
It instantly analyzes each transaction to apply the best rewards and payment options - helping merchants cut costs while improving customer satisfaction.
By unifying payments, settlements, and rewards in one platform, FIS is addressing long-standing payment friction and creating a smoother experience for both consumers and businesses.
What This Means for the Industry
For Consumers:
Smart Basket makes checkout seamless by automatically selecting the best payment method per item - debit, credit, prepaid, or even healthcare accounts. It also applies rewards instantly, removing the need for coupons and enhancing personalization.
For Retailers and Brands:
Merchants gain real-time insights into shopper behavior and item-level data to refine marketing, loyalty, and inventory strategies. Processing multiple payment types per item also supports compliance for benefit-linked purchases.
For Financial Institutions:
Issuers can build flexible loyalty programs tied to real-time payments, digital assets, or traditional networks. Smart Basket’s analytics also improve fraud detection by flagging unusual basket-level behavior.
