US merchants can now send targeted offers and rewards to their customers that can be redeemed at other merchants’ locations via Visa Commerce Network, a new service launched by Visa that eliminates the need for coupons at the point of sale.
Customers activate the offer sent to them by a merchant signed up to the platform either online or through a mobile app. They can then redeem the offer automatically by using Visa to make a payment at another participating merchant.
“Visa Commerce Network works by connecting transactions between two merchants,” Visa says. “For example, a hotel can provide its customers with offers from local restaurants using Visa Commerce Network and, with cardholder consent, track engagement and even issue rewards. Qualifying purchases are recognised at the point of sale and rewards can be seamlessly applied to cardholder accounts.”
“Visa Commerce Network eliminates the need for coupons at the point of sale because promotions are seamlessly executed through card statement credits or rewards at time of service,” the payment network adds. “Consumers can receive and redeem offers after accepting offers online from participating partners simply by using their Visa cards directly or via a mobile device.”
More than a dozen companies including Dunkin’ Donuts, cinema chain Regal Entertainment Group, Shake Shack and Uber have signed up to the service. For a limited time, select Uber customers in 10 US markets who enrol in an offer and use their Visa card at any local grocery store can earn discounted rides and will automatically be entered to win an all-expenses paid trip to San Francisco.
A video gives an overview of Visa Commerce Network:
“This is a service where everyone benefits,” says Ramon Martin, global head of merchant sales and solutions at Visa. “Visa cardholders get access to great offers that don’t require any changes to how they pay, while merchants can acquire new customers and increase sales.”