Visa has launched a new initiative called the Visa Commerce Network, which aims to offer merchants a new way to create online and in-app commerce experiences that will aid in acquiring new customers, driving loyalty and increasing sales with relevant offers.
The Network works by connecting transactions between multiple merchants, with more than a dozen leading businesses already signed up including Uber, Dunkin' Donuts and cinema chain Regal Entertainment Group. The Commerce Network is built on the VisaNet, the world's largest electronic payment network, and can easily be integrated with merchants' existing apps through a variety of simple commerce APIs.
For example, a hotel can provide its customers with offers at local restaurants through the Network, tracking engagement and even issuing rewards, with qualifying purchases recognised automatically at the point of sale and rewards instantaneously applied to cardholder accounts, without the need for coupons or redemption schemes.
As part of a trial of the Network, Uber users in Boston received discounted rides when they used their Visa card at their local Shake Shack restaurant, with post-campaign results showing that Shake Shack benefitted from new customer acquisition rates in the double digits, and higher customer spend levels.
"Participating in this program was seamless," said Laura Enoch, senior marketing manage of Shake Shack. "Guests could receive their perks without the need to change how they pay at the counter and because all of the rewards happened on the backend, it was a great activation without the need to train team members."
As part of the launch, Uber customers in 10 US markets who enroll in an offer and use their Visa card at any local grocery store this week will earn discounted rides as well as being entered into a prize draw to win ticket to the Super Bowl.