Visa’s Web3 Loyalty Innovation: Revolutionizing Customer Engagement

• Visa introduces Web3 Loyalty Engagement Solution, merging digital and virtual realms for immersive customer engagement via gamified rewards and personalized experiences.
• Partnering with SmartMedia Technologies, Visa’s solution bridges Web2 and Web3 innovation, allowing brands to offer tailored, real-world or digital experiences as rewards through a digital wallet.

Visa (NYSE: V), a world leader in digital payments, announced the launch of the Visa Web3 Loyalty Engagement Solution. The new value-added service ushers in the future of customer engagement and loyalty, helping brands meet next-generation customers where they increasingly are – in digital and virtual worlds – through immersive programs like gamified giveaways, augmented reality treasure hunts, and new ways to earn and burn loyalty points.

“Consumers are looking to engage with brands in new ways, and traditional loyalty programs have not evolved over the past decade. Imagine earning a unique digital collectible, whether it’s from purchasing tickets for a sports event or participating in an augmented reality treasure hunt,” said Kathleen Pierce-Gilmore, SVP and Global Head of Issuing Solutions, Visa. “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.”

A new era for rewards

Research shows that consumers today have new and heightened expectations about the value they receive from loyalty programs, and this extends beyond traditional points-based benefits¹. People want to be rewarded not just for their purchases and loyalty, but for their engagement and interactions with a brand – especially if it is fun, easy and rewarding. This is underscored by the fact that more than 77% of consumers worldwide value real-world experiences, and 60% desire curated experiences tailored to their preferences².

The new Visa solution, powered by SmartMedia Technologies, can provide brands with an enterprise platform that bridges Web2 with Web3 innovation that is user-grade and can be customized to create curated experiences and offers for consumers. With the use of this solution, brands can engage customers by providing a digital wallet where they can apply rewards – such as perks and benefits – towards virtual, digital, or real-world experiences, in various sectors such as travel, sports and more.

“SmartMedia Technologies is thrilled to partner with Visa in revolutionizing the future of loyalty and engagement. Our enterprise Web3 platform seamlessly integrates with Visa’s digital payment solutions, offering unparalleled experiences for brands to connect with consumers,” said Tyler Moebius, CEO of SmartMedia Technologies. “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.”

For more information on the Visa Web3 Loyalty Engagement Solution³.

¹ Bond, The Loyalty Report, www.bondbl.com/theloyaltyreport

² Euromonitor International and Visa, Loyalty Redefined: Turbocharge Customer Retention with High-Value Programmes, http://www.euromonitor.com/whitepaper/loyalty-redefined

³ Product availability varies by region.

Source: Visa