Visa Launches ‘Web3 Loyalty Score’ Program: Brands to Offer Digital Wallets for Customers with Reward Points Exchangable for Perks
Visa Embracing Web3 with Innovative Loyalty Program
Visa, a global leader in payment solutions, has announced the rollout of its “Visa Web3 Loyalty Engagement Solution”. This pioneering service in the Web3 space enables partner brands to create digital wallets for consumers, storing reward points and offering immersive experiences, including gamified giveaways and real-world treasure hunts.
Further reading：Itau Unibanco, Brazil’s Largest Bank, Boldly Enters Crypto Arena with BTC and ETH Trading & Custody Services
Enhanced Benefits and Perks for Users
Reported by Blockworks, Visa’s Web3 loyalty service, co-designed with SmartMedia Technologies, aims to revolutionize the traditional loyalty experience through secure, seamless, and immersive digital and physical engagements.
Kathleen Pierce-Gilmore, Visa’s Senior Vice President, highlighted the added benefits and perks this service offers. She envisions a scenario where users earn digital collectibles through various activities, such as purchasing sports event tickets or participating in real-world treasure hunts:
“Our Web3-based innovative loyalty solution allows brands to reward not just transactions but also active participation, paving the way for accessible, seamless, and immersive experiences in both the digital and physical realms.”
Visa’s Proactive Approach to Web3
As a traditional financial services company, Visa has adopted an enthusiastic stance towards the Web3 world. This latest loyalty service initiative is part of a series of projects in the crypto domain that Visa has embarked on:
- In 2021, Visa established a crypto advisory division to assist its clients and partners in navigating the world of cryptocurrency.
- As early as 2020, Visa announced transactions with the USDC stablecoin. In September 2023, it expanded its stablecoin settlement feature to the renowned blockchain, Solana, planning collaborations with payment platforms Worldpay and Nuvei to facilitate crypto payments during card transactions.
Further reading：JPMorgan CEO’s Bitcoin Criticism Contrasts With Blockchain Department’s Billion-Dollar Daily Trades and 300% Staff Growth
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Keywords: Visa, Web3 Loyalty Program, Digital Wallets, Reward Points, Gamified Experiences, Cryptocurrency, Blockchain, Digital Collectibles, Financial Innovation, Consumer Engagement, SmartMedia Technologies, Kathleen Pierce-Gilmore
