FIS announced today the launch of Smart Basket, a soon‑to‑be released solution that leverages a real‑time, item‑level adjudication engine and transaction gateway to transform the checkout experience. The platform is designed to analyze a shopper’s behavior in real time and automatically apply the optimal rewards and payment methods at the basket‑item level, enabling consumers to save money instantly while boosting brand and seller loyalty.
Smart Basket integrates three proven market solutions within FIS’s payments ecosystem—its real‑time payments gateway, loyalty platform, and filtered spend technologies—to create a differentiated network that delivers superior value. According to research from FIS and Oxford, payment process friction costs organizations $4.9 million annually, with 51% of firms citing ‘money‑in‑motion’ as the greatest source of friction. By reducing payment costs and customizing loyalty programs, Smart Basket aims to lower friction and increase sales for retailers and brands.
Jim Johnson, President of FIS, said the solution represents a significant leap forward in how money can be moved and put to work during the search and shopping experience. He emphasized that Smart Basket will enable payment method selection down to the basket‑item level, providing consumers with personalized value while giving retailers deeper insights to optimize their strategies. The announcement marks a new operational milestone for FIS as it expands its product portfolio into real‑time, AI‑driven payment optimization.
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