Reward, Visa Bring Personalized Card Linked Offers to Nigeria

Image

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.”

Share
More Stories
Image
28-May-2019

Ecobank to Issue 5-Year $50m Bond for Operations

By Dipo Olowookere The management of Ecobank Transnational Incorporated, the parent company of the Ecobank group, has announced its intention to raise fresh capital from the bond market. In a notice to the Nigerian Stock Exchange (NSE) on Tuesday, the financial institution it intends to source for $50 million from investors. According to the lender, the debt instrument will have a tenor of five years, with proceeds used for the company’s general corporate purposes. Already, the bank has directed Deutsche Bank, Renaissance Capital, Standard Bank and Standard Chartered Bank to serve as joint lead managers for the offering. “Ecobank Transnational

Image
20-November-2017

Anambra Election: APC Blasts Southeast Leaders

By Modupe Gbadeyanka The abysmal performance of the All Progressives Congress (APC) in the just-concluded governorship election in Anambra State has infuriated the leadership of APC Youths Renaissance. In a statement issued on Sunday night, the group lambasted leaders of the south eastern part of Nigeria, saying despite all the assurances given to leaders and members of the party by Mr Tony Nwoye, the party’s candidate in the poll, APC could not clinch the seat. “Before the election, all necessary logistics were given to the leaders of the party in the zone to deliver victory to APC, but it looked

Image
27-June-2022

Eaton Calls for Stoppage of Sulphur Hexafluoride Gas 

By Adedapo Adesanya Leading power management company, Eaton Nigeria, has advocated the regulation of sulphur hexafluoride (SF6) gas usage in electrical power distribution networks. This call was made during the company’s Power & Water Nigeria Exhibition and Conference 2022, an event that connects the Nigerian utility industry. The event which was organised by Vertex Global services saw the participation of experts and exhibitors from over 20 countries. The gathering enabled global stakeholders to access engaging technical discussions, on-the-spot assessment of the region’s opportunities in power generation, distribution, renewables, and water & utility sectors; as well as exhibitions from leading local

Image
23-September-2021

AFRIMA Suspends Best Soundtrack in Film Category

By Ashemiriogwa Emmanuel The nominees’ list for the All Africa Music Awards (AFRIMA) 2021 has been released by the organisers, with the Best Soundtrack in a movie/series/documentary film category suspended. Mrs Angela Martins, a member of the 13-man AFRIMA jury, said that this was a result of the low quality of entries for this year’s edition. Recall that earlier before the deadline for entries submission, three new categories were added to the existing 37 award categories of the laurel platform which included Best Soundtrack in a movie/series/documentary film, Best Global Sound, and Breakout Artiste of the Year as approved by

Image
13-December-2021

UNODC Discovers $1.7trn Proceeds from Global Sports Corruption

By Adedapo Adesanya The United Nations Office on Drugs and Crime (UNODC) has uncovered a sum of $1.7 trillion, which is estimated to be wagered on the illicit betting market every year as part of efforts to expose corruption in sports. This was presented in a new report by the UN office which showed a staggering scale, manifestation, and complexity of corruption and organised crime in sports at the global, regional, and national levels. The report, which is the first-ever Global Report on Corruption in Sports flags an urgent need for a unified, international response to corrupt practices in sport,

Image
10-November-2017

Nigeria Rejects Moody’s Rating Downgrade

By Modupe Gbadeyanka Federal Government has strongly rejected the downgrading of Nigeria from a B1 stable to a B2 stable rating by Moody’s Investors Service Research. In a statement dated Wednesday, November 8, 2017, the Nigerian authorities said the downgrade was not a true reflection of the current state of the country’s economy, which government said has improved. “The attention of the Federal Ministry of Finance (FMF), Central Bank of Nigeria (CBN) and the Debt Management Office (DMO) has been drawn to today’s announcement of the decision by Moody’s to downgrade Nigeria from a B1 stable to a B2 stable

Image
11-January-2017

High Level British Delegation Visits Sudan

By Dipo Olowookere A senior delegation from the UK’s Foreign and Commonwealth Office (FCO) and Department for International Development (DFID) visited Sudan on 9-10 January 2017 for wide-ranging talks. Led by FCO Permanent Under-Secretary Sir Simon McDonald and DFID Permanent Secretary Sir Mark Lowcock, the delegation travelled to Khartoum and Nyala, South Darfur. Reflecting on the visit, Sir Simon said, “I’m delighted to have taken up the invitation extended by my Sudanese counterpart, Ambassador Abd Elghani Elnaim, when we met in London last October. Relations between the peoples of Sudan and the UK are deep and historic, and our meetings

Image
23-November-2018

UAC of Nigeria Board Replaces Ighodaro with Odunsi

By Dipo Olowookere Mr Bolaji Adekunle Odunsi has been appointed to the board of UAC of Nigeria Plc following the resignation of Mrs Olufunke Ighodaro, who recently took up an executive role in South Africa. A statement signed by the Legal Adviser of UAC of Nigeria, Mr Godwin Samuel, disclosed that Mr Odunsi, a financier, is armed with over 25 years of international investment experience in a variety of industry sectors, including manufacturing, security, services to oil and gas and distribution. He also has significant board level experience in Europe and the United States, with a focus on implementing transformational

Ad
Ad
Recent Stories
Image
01-March-2024

Nigeria Wants Share in $350bn Global Outsourcing Market

By Aduragbemi Omiyale The global outsourcing market is estimated to be worth about $350 billion and Nigeria is looking to take a slice of it to address the rising unemployment rate in the country. Before 2023, the National Bureau of Statistics (NBS) put the unemployment rate at about 33 per cent, but in its revised edition, the agency said the rate grew to 5.0 per cent in the third quarter of last year. The outsourcing market is becoming the new oil market and Nigeria, which prides itself as the largest economy in Africa because of its population size of over

Image
01-March-2024

Lokpobiri Charges New NCDMB Council on Growth of Nigeria’s Energy Sector

By Adedapo Adesanya  The Minister of State for Petroleum Resources (Oil), Mr Heineken Lokpobiri, has charged the newly inaugurated fourth Governing Council of the Nigerian Content Development and Monitoring Board (NCDMB) to continue advancing the country’s oil and gas industry. The NCDMB Governing Council is set up under the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and draws membership from representatives of select institutions connected with the energy sector. The fourth NCDMB Governing Council would be chaired by Mr Lokpobiri, while the Executive Secretary of NCDMB, Mr Felix Omatsola Ogbe, would serve as the Secretary. Others are the

Image
01-March-2024

How to Protect Your Crypto From Scams, Hacks

In 2023, it is estimated around $2 billion was lost by investors to scams, rug pulls and hacks. Although the technology is becoming more secure and stable and many users are more aware of the tricks used to steal assets, there are still ways for thieves to extract your crypto if you aren’t careful.   Experts at Smart Betting Guide have provided a guide on the best ways to keep your crypto safe in 2024.  1. Do not store your password and seed phrase on the Cloud   For many people, the best and most convenient way to access crypto is through

Image
01-March-2024

FX Crisis: Nigeria May Slam $10bn Fine on Binance

By Adedapo Adesanya The Nigerian government may be considering a $10 billion fine on Binance, a crypto exchange platform, amid a crackdown on crypto platforms in desperate moves to restore the nation’s battered foreign exchange (FX) market. This information was disclosed by Mr Bayo Onanuga, who is the Special Adviser on Information and Strategy to President Bola Tinubu, in an interview with the British Broadcasting Corporation (BBC) on Friday morning. According to the President’s aide, this was necessary as the Nigerian government believes Binance profited substantially from its “illegal transactions” in the country while the nation suffered huge losses. Mr

Image
01-March-2024

Business Confidence in Nigeria Falls in February Amid Rise in Input Costs

By Modupe Gbadeyanka Business conditions in Nigeria slowed to 51.0 in February 2024 from 54.5 in January 2024, as price pressures intensified in the private sector at an unprecedented pace in over a decade of data collection, the Stanbic IBTC Bank Purchasing Managers’ Index (PMI) has revealed. A statement from the lender disclosed that the improvement in business conditions was the weakest since the recovery in the private sector began last December. It stated that input costs surged higher in the period under consideration as a result of higher fuel prices and exchange rate weakness, which drove up material costs.

Image
01-March-2024

Harvard Business School Introduces Tony Elumelu Foundation Case Study

By Modupe Gbadeyanka A case study to spotlight the role of celebrated African businessman, Mr Tony Elumelu, in transforming the development agenda on the continent through his Tony Elumelu Foundation (TEF) has been introduced by the Harvard Business School. The case study, launched on Thursday, February 29, 2024, will critically look into how the former banker is catalysing entrepreneurship in Africa through his Africapitalism approach. At its unveiling before a class of graduate students at Harvard Business School, Mr Elumelu said, “TEF is creating economic hope and opportunity for African entrepreneurs. We know that entrepreneurship is the solution to youth

Image
01-March-2024

Unlisted Securities Remain in Negative Territory by 1.36%

By Adedapo Adesanya Correction at the NASD Over-the-Counter (OTC) Securities Exchange continued as it recorded a 1.36 per cent loss on Thursday, February 29. The bourse lost N21.34 million of its value during the trading session to close at N1.542 trillion compared with the preceding day’s N1.564 trillion and the NASD Unlisted Security Index (NSI) went down by 15.74 points to end the day at 1,138.05 points versus Wednesday’s 1,153.79 points. Yesterday’s decline was influenced by Aradel Holdings Plc, which further suffered further profit-taking, causing its price to drop N98.25 to close at N2,401.75 per share versus the preceding session’s

Image
01-March-2024

Naira Firms to N1,595/$1 at NAFEX, Weakens to N1,500/$1 at Black Market

By Adedapo Adesanya The Naira ended a tumultuous February as it recorded a price appreciation f 0.09 per cent or N14.40 against the US Dollar on Thursday, February 29, in the Nigerian Autonomous Foreign Exchange Market (NAFEM). Data obtained from the FMDQ Securities Exchange showed that the value of the local currency closed at N1,595.11/$1 during the session compared with the preceding day’s N1,609.51/$1. Also, the Nigerian currency improved its value against the Pound Sterling in the official market yesterday by N20.34 to close at N2,046.19/£1 compared with the preceding session’s N2,066.53/£1 and strengthened against the Euro by N16.5 to

Image
01-March-2024

Oil Down as US Inflation Signals Weak Crude Demand

By Adedapo Adesanya  Oil was down on Thursday as inflation data in the United States implied a softening of the world’s biggest economy that could weaken crude demand. Brent futures went down by 6 cents to $83.62 a barrel and the US West Texas Intermediate (WTI) futures depreciated by 28 cents to $78.26 a barrel. The US Federal Reserve’s preferred inflation gauge, the US Personal Consumption Expenditures (PCE) index, showed January inflation in line with economists’ expectations. The index rose 0.3 per cent last month, the Commerce Department’s Bureau of Economic Analysis said. Data for December was revised lower to

Image
01-March-2024

Local Stock Market Rebounds, Closes Last Day of February 0.68% Higher

By Dipo Olowookere The last trading session of February 2024 at the Nigerian Exchange (NGX) Limited ended on a positive note as it rebounded by 0.68 per cent after the interest rate hike scare. The growth posted on Thursday was triggered by bargain-hunting in financial stocks, especially those selling at cheaper prices after the sell-offs in the past few sessions. However, profit-taking persisted in the other sectors of the bourse, with the energy, and consumer goods indices closing lower by 0.33 per cent, and 0.18 per cent, respectively. Business Post reports that the banking space rose by 6.14 per cent,