Crypto: Visa introduces Web3-based loyalty rewards system

To increase customer loyalty, Visa is launching a Web3 loyalty reward system. According to the payment giant’s statements, the initiative aims to allow customers to have electronic wallets. These wallets will be used to collect points from brands, tokenized tickets and much more. Discover all the advantages of this reward system which marks a giant step forward in the crypto universe.

Visa in collaboration with SmartMedia Technologies

In order to improve its customer relations, Visa announced its interest in creating a crypto wallet. The company’s spokesperson said that not only will this Web3 offering be easy to access, but it will also be intended for both partners and consumers. This innovation will be made possible thanks to the SmartMedia Technologies engagement platform. Established in the years 2018, SmartMedia Technologies has stood out from the crowd due to its driving force. This has allowed it to build a strong reputation through various collaborations with consumer goods company Unilever, payments company American Express and luxury fashion brand Burberry.

To go even further, SmartMedia Technologies has decided to build the future with Visa. Tyler Moebius, CEO of the partner platform, said the new collaboration with Visa is not just about improving customer rewards. But also, it aims to redefine and optimize the exchange of value between brands and consumers, in a world where crypto payments are of paramount importance.

The transformation of Web2 companies and blockchain

Innovations in blockchain technology have encouraged many Web2 companies to explore the crypto space. This enthusiasm has been felt since the start of 2023. With the advantages highlighted, many companies continue to base their loyalty programs on blockchain technology. By passing this milestone, Web2 companies are embarking on a large-scale advertising process with technological movements, but also to succeed in arousing the interest of users.

As proof, one of the largest airlines in Europe, Lufthansa, has set an example for a large number of Web2 companies. The latter launched its Web3 loyalty program in 2023. This initiative allowed the company to stand out in the crypto sphere in the eyes of its passengers. With the mobile application offered to customers, they can easily manage their ticket transactions by earning reward points for each service used.

It’s remarkable how more and more companies are interested in Web3. The case of Visa is the perfect example with the launch of this loyalty reward system. Its collaboration with SmartMedia Technologie reinforces the idea that Web3 is gaining ground, to the great pleasure of the crypto community.

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