Visa Adopts Web3 Tech for Its New Loyalty Engagement Solution

Visa, a worldwide person successful recognition outgo technology, has announced that it volition see Web3 elements successful its customized loyalty programme solution. The institution partnered with Smartmedia Technologies, a Web3 loyalty rewards startup, to adhd innovative features to these programs that see virtual worlds, integer wallets, and gamified rewards.

Visa Turns to Web3 to Revitalize the World of Loyalty Rewards Programs

Visa, 1 of the largest payments companies successful the world, is adding Web3 elements to its loyalty programme solution. The institution announced that it was revitalizing its accepted engagement solution with Web3 elements to drawback the attraction of a caller benignant of lawsuit with much expectations astir rewards than conscionable receiving points.

For this, Visa partnered with Smartmedia Technologies, a startup that allows adding virtual and integer experiences to rewards programs. Smartmedia has worked with American Express, Accenture, Axe, and Vodafone.

Kathleen Pierce-Gilmore, SVP and Global Head of Issuing Solutions astatine Visa, acknowledged that accepted points programs person failed to code the caller needs of consumers successful this field, which includes integer collectibles and augmented world elements. She stated:

Our caller innovative integer loyalty solution empowers brands to reward customers not lone for their transactions but for their progressive engagement, paving the mode for secure, seamless and immersive integer and real-world experiences astatine their fingertips.

In practice, this means that brands volition beryllium capable to reward customers with tokens and integer collectibles for purchases, societal media interactions, augmented world treasure hunts, and informative polls. These tokens volition let users to unlock rewards astatine immoderate destinations oregon enrich their acquisition successful integer worlds.

Visa has been precise progressive successful the cryptocurrency and blockchain, having partnered with Valr, an African exchange, successful October. In the aforesaid way, Visa besides expanded its stablecoin settlements capabilities to the Solana blockchain successful September.

What bash you deliberation astir including Web3 elements successful Visa’s loyalty engagement solution? Tell america successful the comments conception below.