LAS VEGAS, Oct. 23, 2017 /PRNewswire/ -- Modo and Alliance Data's Columbus, Ohio-based card services business, a premier provider of private label, co-brand and business card programs, today announced they will work together to innovate for the future of data-driven payments experiences. Alliance Data will leverage Modo's cloud-based payment event service to create Loyalty and Checkout Events that engage consumers while requiring limited technical change for retailers.
Modo securely and fairly conducts the exchange of payment event data across platforms on behalf of banks, payments networks and providers. Modo's cloud based service enables payment interoperability by allowing clients to simply store, share, and track payment event data. Modo's service normalizes payment event data across various payment systems, improving integrations, operational efficiencies and speed to market.
"As retail and commerce companies enter this period of change, they must adapt to serve the customer in the channel she prefers, in the device she holds and at the moment she is ready," said Sheryl McKenzie, vice president of products and capabilities for Alliance Data's card services business. "As the customer initiates payment events, together with Modo, we will continue to ensure that brands can surround that event with marketing offers and rewards benefits that deepen the customer's connection with the brand and simplify the experience of card-based loyalty programs. A simple experience for the customer and ease of implementation for the retailer are our top priorities. "With Modo, we can get there faster, with a level of consistency that allows us to deploy these experiences in an agile manner."
"We can leverage Modo's service to seamlessly exchange payment event data across disparate retail systems in store, online and through the mobile channel," McKenzie stated. "At Alliance Data, we are bringing together the breadth of a large marketing-focused corporation with the agility of a startup partner to accelerate the delivery of innovative payment and loyalty capabilities."
"Modo's mission is solving for complexity and friction in the exchange of payment event data to improve interoperability between payment systems globally. Alliance Data is a world-class provider of payment and loyalty experiences that rely on data moving between retail systems, so to expand our great relationship with them further is an extraordinary privilege," said Modo CEO Bruce Parker. "We couldn't be more excited about the upcoming Alliance Data offerings for both Loyalty and Checkout Events. We're at the physical/cardiac limit of excitement."
Modo and Alliance Data are speaking on data-driven retail experiences at Money20/20 US later today, October 23rd, at 11:40AM PT in Titian, The Venetian Level 2. The presentation will conclude with a big surprise.
Modo securely and fairly conducts the exchange of payment event data on behalf of banks, payments networks and providers navigating the fintech frontier. Payment events are everything before, during, or after a transaction. Payment event data includes accounting entries, payment credentials, transaction state, and associated commercial information. Our cloud based service enables payment interoperability and accelerates innovation by allowing clients to simply store and share payment event data. Modo is proud to conduct the exchange of payment event data for some of the largest, most sophisticated players in the world including Alliance Data, Bank of America Merrill Lynch, Klarna, FIS, and more to be announced soon. To learn more about the payment events Modo has made COIN® operated, head on over to https://modopayments.com. Keep up with us on Twitter @modopayments.
Rob Wells, 704-674-7147, [email protected]
About Alliance Data's card services business
Alliance Data's card services business is a leading global provider of tailored marketing and loyalty solutions, delivered through branded credit programs that drive more profitable relationships between our brand partners and their cardmembers. We offer private label, co-brand, and business card products to many of the world's most recognizable brands across a multitude of channels.
We uphold our Know more. Sell more.® promise by leveraging unmatched customer insights, advanced analytics and broad-reaching innovative capabilities. It's how we deliver increased sales to our partners, build enduring loyalty to their brands and provide more value to our cardmembers. Alliance Data's card services business is a proud part of the Alliance Data enterprise. To learn more, visit KnowMoreSellMore.com or follow us on Twitter @Know_SellMore.