Thursday, the payment network VISA issued a press release announcing the introduction of the VISA Web3 Loyalty Engagement Solution.
On Thursday, payment network VISA issued a press release announcing the news. It has been announced that the VISA Web3 Loyalty Engagement Solution will be introduced in collaboration with SmartMedia Technologies.
To retain consumers for the payment giant’s services, VISA intends to offer augmented reality treasure hunts, gamified giveaways, and novel methods of earning and depleting loyalty points through its new customer loyalty program.
The revised VISA scheme
To regain its clientele, VISA recently unveiled a novel Web3 engagement solution. Customers who make transactions using the organization’s payment services can accumulate additional digital points through the redesigned service.
Global payment facilitators have observed a significant increase in online clientele, particularly in the aftermath of the global pandemic of 2020. In light of intensifying competition, however, all facilitators must cultivate a devoted clientele to prevent business loss.
VISA Clients to Offer Rewards
Through its new customer loyalty program, VISA will offer diverse digital assets for its clientele to acquire. This may include loyalty assets, rewards for ticketing, token-based gatekeeping, collectibles, gamified giveaways, augmented reality treasure searches, and more.
The company added that the new Visa solution, which SmartMedia Technologies fuels, can offer brands a user-grade enterprise platform that connects Web2 and Web3 innovation and can be customized to generate curated consumer experiences and offers.
The Digital Reward System’s Rise
As a result of an expanding clientele that typically favors customized presents and a robust loyalty program, numerous industry titans have begun to place greater emphasis on augmenting Web3 services to distribute rewards.
Prominent corporations such as Starbucks, Nike, Adidas, and Venmo are among those that have implemented Web3 loyalty programs to improve the user experience and potentially convert them into brand advocates.