Visa, a world leader in digital payments, and Reward, a global pioneer in bank loyalty, 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.
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
from personalized offers that drive value to all stakeholders. Some of the
standout benefits include:
- Visa
Cardholders Earning Merchant-Funded Rewards: 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.
- Issuers
Facilitating Personalized Offers: 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.
- Merchants
Reaching Visa Cardholders: 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.
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.”
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."
Visa's Card Linked Offers Solution grants customers access to an array of retail offers through Reward’s Global Merchant Marketplace. The program leverages rich data and predictive analytics to ensure content is highly personalized for customers. Notably, the region's largest retail groups, including Al Futtaim Group, Eathos, Apparel, Landmark, Net-A-Porter, Selfridges, and more, are already active participants in this transformative program.