Visa Inc. today announced a processing enhancement for Visa Offers, a solution that enables Visa issuers, acquirers and merchants of all sizes to deliver targeted rewards to Visa cardholders. The enhanced service has the potential to eliminate paper coupons, allowing consumers, who opt in, to earn points and discounts as well as redeem special offers instantly at checkout by simply using their enrolled Visa card.
The platform supports Visa’s commitment to offer solutions for retailer and financial institution clients of any size that allows them to deliver customized and differentiated benefits to Visa cardholders at the point-of-sale.
Visa’s payments processing network, VisaNet, enables the efficient delivery of these offers that can enhance the consumer checkout experience, increase merchant sales and strengthen issuer relationships. The new capabilities include:
“Smarter commerce means having the right offer, delivered to the right customer at the right time,” said Jim McCarthy, global head of Products, Visa Inc. “Visa’s new real-time point-of-sale redemption platform is a great example of Visa’s ability to apply its processing and technology expertise to simplify the use of offers and discounts, bringing benefits to merchants, acquirers, issuers and consumers. This enhancement to Visa’s processing platform is emblematic of our strategy to facilitate our clients differentiating benefits for their customers at the point-of-sale.”
Visa has established agreements to source discounts from leading retailers and can manage the Visa Offers platform on behalf of retailers, acquirers, and issuers, from enrollment to offer delivery to redemption options.
“From hardware designs to software enhancements, it has never been more important for the payments industry to find meaningful ways to enhance the consumer experience,” said Nick Holland, senior payments analyst, Javelin Strategy & Research. “Visa has a long history of delivering payment tools that transform the ways consumers shop, and Visa’s new offers redemption platform is another innovative example of making the payment process more efficient for banks, merchants and consumers.”
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below: