Visa Launches Web3 Loyalty Service for Enhanced Customer Engagement

The new service, powered by SmartMedia Technologies, allows brands to create digital wallets for customers and engage them through immersive Web3 experiences.

• Visa has announced a new Web3 loyalty service, the Visa Web3 Loyalty Engagement Solution, to assist brands experiment with Web3 elements like NFTs, metaverse, and cryptocurrencies.
• The new service will allow brands to create digital wallets for the storage of reward points on behalf of their customers and engage them through immersive programs like gamified giveaways and augmented reality treasure hunts.
• Visa's research indicates that modern consumers expect more from loyalty programs and seek rewards that extend beyond traditional points-based systems. Over 77% of consumers globally value real-world experiences.
• The Web3 solution is powered by SmartMedia Technologies, providing brands with an enterprise platform that combines traditional Web2 with innovative Web3 technology.
• Visa's new initiative is a part of its consistent efforts to introduce Web3-friendly services, having previously enabled users to make telephone and electricity payments via self-custodial crypto wallets and launched a creator programme to help digital-age artists understand and use NFTs.

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