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- 1 Visa, in partnership with SmartMedia Technologies, is evolving the future of customer loyalty and engagement.
- 2 The new Web3 loyalty program encompasses perks and benefits for customers as well as brands.
- 3 With the new initiative, people will be rewarded not only for purchase and loyalty but also for engagement and interaction.
Visa Inc. V, the leader in digital payments, is all prepared to revolutionize customer loyalty with a new Web3 engagement solution. The new Visa solution is expected to blend the innovations of Web2 and Web3, offering customers curated experiences and exciting offers.
The new Visa solution will allow consumers to engage, earn, and redeem perks and benefits like never before. The solution’s purpose is to engage customers with the brand in an immersive way. Powered by SmartMedia Technologies, the Web3 solution will enhance customer engagement for brands offering gamified giveaways, and earn and redeem tokens.
Visa Web3 loyalty engagement solution holds benefits for both the brands and customers.
Web3 Loyalty Engagement Solution Insights
Traditional loyalty programs need a change to fulfill the evolving demands of the tech-loving generation. To offer customized solutions to the customers, allowing them to redeem the tokens for real-world or digital experiences such as travel, sports, digital tickets, and entries, the Web3 loyalty program was introduced by Visa on January 4.
With the Web3 advanced loyalty program, customers can enjoy the ownership and usage that aren’t available in traditional loyalty programs. Digital tickets and entries, loyalty coins, tokengated digitals, digital coupons, and reward transactions are a few of the exciting features offered.
Visa’s motive is to revolutionize loyalty programs for next-generation users by integrating the Web3 platform with digital payment solutions. Offering digital wallets to avail rewards, no doubt boost customer engagement with the new innovation. Additionally, the future of engagement and loyalty holds a wide range of benefits for brands and customers.
“The new innovative solution empowers brands to benefit customers for transactions as well as active engagement”, said Kathleen Pierce-Gilmore, the Global head and SVP of Visa.
Tyler Moebius, the CEO of SmartMedia Technologies also expressed excitement and honor with the partnership.
“The collaboration will not just enhance customer benefits, but it’s about establishing a strong connectivity between consumers and brands in a mobile payment-first world” stated Tyler Moebius.
What For Customers and Brands?
Focusing on the brand’s benefits, direct access to digital-first and mobile audiences, direct interaction with the customers, and enhanced brand engagement are a few of the perks.
Gamified loyalty benefits, new ways to earn and burn tokens in the virtual, physical, and digital worlds, interoperability with the Web3 wallet app, and token redemption for digital experiences and digital collectibles are a few of the exciting perks awaiting customers.
Repeat purchases for retailers, an upsurge in sales figures, and Visa’s client retention are some strong sides of the upcoming Web3 loyalty program.
Visa Inc., is a global platform working with digital payment technology, serving more than 200 countries and territories. The company is mainly accountable for offering transactions between customers, financial institutions, legal bodies, and merchants. Visa’s secure, reliable, innovative, convenient, and efficient payment network, makes it a lead player in the world of digital payment.
SmartMedia Technologies, one of the most trusted enterprise web3 platforms works to make Web3 safe, accessible, and easy for consumers. Partnering with Visa for the new Web3 loyalty program to enable brands to deliver personalized consumer loyalty.
Mr. Pratik chadhokar is an Indian Forex, Cryptocurrencies and Financial Market Advisor and analyst with a background in IT and Financial market Strategist. He specialises in market strategies and technical analysis and has spent over a year as a financial markets contributor and observer. He possesses strong technical analytical skills and is well known for his entertaining and informative analysis of the Financial markets.
