The global payments platform Visa has announced a
new digital loyalty solution dubbed Visa Web3 Loyalty Engagement. Powered by
SmartMedia Technologies, this solution integrates Web 2 with Web 3 technology.
Kathleen Pierce-Gilmore, the SVP and Global Head of
Issuing Solutions at Visa mentioned: “Consumers are looking to engage with
brands in new ways, and traditional loyalty programs have not evolved over the
past decade. Imagine earning a unique digital collectible, whether purchasing
tickets for a sports event or participating in an augmented reality treasure
hunt.”
This new platform enables brands to curate
personalized experiences and seamlessly offer rewards, the company said in the
official press release. Its digital wallet feature allows consumers to apply for rewards in various sectors, from travel to sports.
Visa mentioned that its mission to connect the
world through innovative and secure payments remains unwavering. The payments
giant believes that inclusivity in different economies uplifts everyone, with access
being pivotal in shaping the future of the movement of money.
Recently, Visa solidified its position in digital
payments and identity management through strategic partnerships. These
alliances signify Visa’s commitment to advancing secure
transactions and the movement of money globally, Finance Magnates reported.
Enhancing Global Transfers
By leveraging Tech5’s expertise in biometrics and
digital identity, Visa unveiled its plans to secure transactions on a global
scale. The integration of biometric technology positioned the payments giant in the digital identity management space.
Simultaneously, Visa partnered with Intermex to
enhance global money transfers. Through the integration of Visa Direct, both
entities aim to expedite the movement of money across borders.
Last year, Paysafe collaborated with Visa to
strengthen payment security. This partnership aims to combat fraud and enhance a
safer digital payments environment by integrating Visa network tokens into
Paysafe’s single payments API. The incorporation of Visa network tokens is expected to enhance authorization rates and strengthen the digital payment ecosystem.
One standout element of these tokens is their
real-time card number update capability. This feature ensures uninterrupted services for
recurring payment subscriptions. Issued by Visa, the tokens are managed and
stored by Paysafe, mitigating the risks associated with data breaches or
fraudulent activities.
The global payments platform Visa has announced a
new digital loyalty solution dubbed Visa Web3 Loyalty Engagement. Powered by
SmartMedia Technologies, this solution integrates Web 2 with Web 3 technology.
Kathleen Pierce-Gilmore, the SVP and Global Head of
Issuing Solutions at Visa mentioned: “Consumers are looking to engage with
brands in new ways, and traditional loyalty programs have not evolved over the
past decade. Imagine earning a unique digital collectible, whether purchasing
tickets for a sports event or participating in an augmented reality treasure
hunt.”
This new platform enables brands to curate
personalized experiences and seamlessly offer rewards, the company said in the
official press release. Its digital wallet feature allows consumers to apply for rewards in various sectors, from travel to sports.
Visa mentioned that its mission to connect the
world through innovative and secure payments remains unwavering. The payments
giant believes that inclusivity in different economies uplifts everyone, with access
being pivotal in shaping the future of the movement of money.
Recently, Visa solidified its position in digital
payments and identity management through strategic partnerships. These
alliances signify Visa’s commitment to advancing secure
transactions and the movement of money globally, Finance Magnates reported.
Enhancing Global Transfers
By leveraging Tech5’s expertise in biometrics and
digital identity, Visa unveiled its plans to secure transactions on a global
scale. The integration of biometric technology positioned the payments giant in the digital identity management space.
Simultaneously, Visa partnered with Intermex to
enhance global money transfers. Through the integration of Visa Direct, both
entities aim to expedite the movement of money across borders.
Last year, Paysafe collaborated with Visa to
strengthen payment security. This partnership aims to combat fraud and enhance a
safer digital payments environment by integrating Visa network tokens into
Paysafe’s single payments API. The incorporation of Visa network tokens is expected to enhance authorization rates and strengthen the digital payment ecosystem.
One standout element of these tokens is their
real-time card number update capability. This feature ensures uninterrupted services for
recurring payment subscriptions. Issued by Visa, the tokens are managed and
stored by Paysafe, mitigating the risks associated with data breaches or
fraudulent activities.
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- Source: https://www.financemagnates.com//fintech/visa-unveils-web3-loyalty-solution-with-smartmedia-integration/
