Global payment giant Visa announced on Thursday (4th) the launch of its Web3 loyalty participation solution, claiming that the system can enhance brand customer engagement.
According to a press release by Visa, the new Visa solution will provide brands with a customizable enterprise platform to create curated experiences and offers for their consumers. Brands can also attract customers by offering digital wallets for collecting tokenized vouchers, loyalty tokens, digital collectibles, and other benefits provided by the brand, which can then be used for virtual and physical experiences.
A Visa spokesperson, in an interview with “The Block,” stated that users of this platform do not need advanced knowledge of blockchain technology to use these rewards. They added, “From the participation platform pioneered by our partners to our simple two-step mobile registration, this product makes it easy for both partners and consumers to get started with Web3.”
Enterprise Web3 platform SmartMedia Technologies is providing technical support for Visa’s new Web3 loyalty platform. The company, founded in 2018, has previously collaborated with payment company American Express, consumer goods company Unilever, and luxury fashion brand Burberry.
Tyler Moebius, CEO of SmartMedia Technologies, stated in a press release that their new collaboration with Visa is “not only about enhancing customer rewards but also about redefining the value exchange between brands and consumers in a mobile-first world.”
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