By Adedapo Adesanya
Digital payments service, Visa, and a global pioneer in bank loyalty, Reward, are joining forces to introduce Visa’s Card Linked Offers solution in Nigeria.
Through the partnership, Visa will provide banks with access to exclusive offers from leading global merchants, while Reward co-creates hyper-personalized offers, digitally delivering them to Visa cardholders.
According to a statement, this is in response to consumers’ growing appetite for tailored and differentiated loyalty propositions, this solution has been designed to elevate consumer engagement by delivering data-driven and hyper-personalized offers.
With Visa’s Card Linked Offers, issuers, cardholders, and merchants will take advantage of personalized offers that drive value to all stakeholders.
Some of the standout benefits include Visa Cardholders Earning Merchant-Funded Rewards. With this, Visa cardholders can now earn merchant-funded rewards, whether they’re shopping in their home country or traversing 20 countries, thanks to Reward’s innovative ‘Home & Away’ X-border technology.
Another is Issuers Facilitating Personalized Offers. Through this, issuers gain the capability to communicate ready-to-market personalized offers to their cardholders, sourced from global, regional, and local brands. This translates into increased card usage, higher spending, and elevated levels of satisfaction measured through Net Promoter Score.
Also is the Merchants Reaching Visa Cardholders through which merchants can now have access to Visa cardholders through digital channels, enabling them to promote highly targeted offers based on consumer spending both in their stores and market-wide.
Speaking on this, Mr Otto Williams, Senior Vice President, Head of Product, Partnerships & Solutions CEMEA at Visa says, “Visa’s Card Linked Offers solution enables banks to offer their cardholders relevant and personalized merchant-funded offers based on cardholders’ individual needs and spending preferences.
“It also provides a seamless customer experience, as the reward is automatically identified and credited to the cardholder’s account. This is a very powerful tool to complement existing loyalty offerings, to further drive meaningful customer engagement and build long-term customer loyalty for both the bank and participating merchants.”
Adding his input, Mr Gavin Dein, founder and CEO of Reward, explains, “Our collaboration with Visa allows banks to enhance the value they provide to customers via personalized merchant-funded offers on debit and credit cards.
“This arrangement results in a triple-win: customers benefit from increased rewards, banks profit as merchants cover the reward expenses, and merchants can allocate their marketing budgets in a highly personalized and accountable manner.”
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