Visa announced the launch of a new loyalty service that will allow brands to create digital wallets for customers to store reward points and experiences.
Visa announced the launch of a new loyalty service that will allow brands to create digital wallets for customers to store reward points and experiences. The Visa Web3 Loyalty Engagement Solution aims to revolutionize the traditional loyalty program by offering gamified giveaways, immersive treasure hunts, and other interactive experiences.
Visa's new loyalty solution, developed in partnership with Web3 engagement and loyalty platform SmartMedia Technologies, will enable brands to provide digital wallets to their customers, allowing them to earn perks and benefits such as online or real-world experiences in travel, sports, and entertainment.
SVP and Global Head of Issuing Solutions of Visa, Kathleen Pierce-Gilmore, mentioned that traditional loyalty programs have not changed over the past decade, saying:
“Our new innovative digital loyalty solution empowers brands to reward customers not only for their transactions but for their active engagement, paving the way for secure, seamless and immersive digital and real-world experiences at their fingertips.”
Tyler Moebius, CEO of SmartMedia Technologies, said:
“This collaboration is not just about enhancing customer rewards; it's about redefining the value exchange between brands and consumers in a mobile payments-first world. We are committed to delivering experiences that are as rewarding as they are engaging and relevant for today's evolving consumers.”
This is not Visa’s first involvement in the crypto space. In 2021, the company launched a crypto advisory unit to help its clients and partners navigate the industry. Visa has also partnered with several crypto exchanges and projects, offering card programs, settlement in USDC, and the ability to send or receive USDC payments via the Solana blockchain.
Let us know what you loved about this article, what could be improved, or share any other feedback by filling out this short form.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators.
This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice.
The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
