The new platform includes rewards developed on the blockchain technology, gamification, and NFTs and any Visa cardholder will be able to earn token rewards by shopping and even boost their rewards through an in-app gameplay and NFT cards. The loyalty programme is expected to help millions of merchants grow their businesses and contribute to bringing the latest Web3 technology to the masses.
The latest Visa Offers Platform comes with a card-linked feature that allows users to connect their Visa card to the ShopNEXT’s app. When synced, the VisaNet electronic payments network enables the app to track card payment transactions and grant instant rewards in the form of tokens.
According to Visa officials, as more consumers are shopping online, they develop new digital tastes, and are willing to try alternative rewards and loyalty programmes, based on the blockchain technology and NFTs. The partnership between the two companies will help consumers shop in a more intelligent way and receiving more bang for their buck. At the same time, they will benefit from Visa’s expertise in secure payments and earn limited-edition rewards, including NFTs.
As consumers benefit from a wider array of payment methods, sticking to credit cards is a personal choice. And, while they provide a higher security when it comes to payments, credit cards are also popular due to their issuers’ cash-back programmes. In fact, recent research conducted in the field found that among the most important factors that influence consumers to use their credit cards at checkout, rewards programmes are ranked second in importance, and are only outranked by the ease and convenience of use.
More than half of the consumers claim that reward programmes are an important factor to consider when choosing which credit card to use, while a quarter stated that loyalty programmes are the most important criteria on which they base their credit card preference.
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