Visa recently unveiled its Web3 loyalty program, which aims to redefine customer engagement by introducing interactive treasure hunts and gamified prizes.
Through a unique loyalty engagement solution, the program is designed to empower brands to improve customer interactions and build meaningful connections.
The Web3 loyalty program from Visa aims to go beyond traditional reward systems. To provide customers with engaging and memorable experiences, the initiative includes interactive treasure hunts and gamified prizes.
To create digital wallets for their customers, brands can use the Visa Web3 Loyalty Engagement Solution. These wallets act as a central storage location for reward points and experiences, allowing users to easily access and enjoy their benefits.
The move is in response to shifting consumer preferences, as highlighted in Bond’s The Loyalty Report. According to the report, customers today seek rewards that go beyond simple purchases and value connections with brands that share their values.
According to Kathleen Pierce-Gilmore, Visa’s SVP and global head of issuing solutions, traditional loyalty programs have struggled to evolve over the last decade. The new Web3 loyalty solution aims to address these issues while also innovating the loyalty landscape.
The program introduces the concept of earning one-of-a-kind digital collectibles by participating in activities such as purchasing sports event tickets or participating in augmented reality treasure hunts. This gives loyalty rewards a unique and personalized twist.
Visa developed and implemented the innovative loyalty solution in collaboration with SmartMedia Technologies, a Web3 engagement and loyalty platform. This collaboration is expected to transform the current state of loyalty programs.
Brands can use digital wallets to offer a variety of rewards and perks, such as online and in-person experiences in travel, sports, and entertainment. This diversification aims to cater to customers’ diverse interests and preferences.
