As part of its initiatives to expand its retailer base — and to grow greater retailer loyalty, Visa is enacting several tactics. Here is one of them: the Visa Commerce Network (VCM).
Here is a synopsis of VCM, as reported by Tome Ryan for RetailWire:
“Visa has come up with a new way to reward customers at the point of sale: providing discounts to other places. Through the Visa Commerce Network, shoppers are sent targeted offers and rewards on their mobile phones that can be redeemed at other merchants’ locations. For example, a hotel can provide its guests with offers from local restaurants and, with cardholder consent, track engagement and even issue rewards. Qualifying purchases are recognized at the point of sale and rewards seamlessly applied to cardholder accounts, eliminating the need for coupons or points systems.”
“To-date, more than a dozen leading businesses, including Dunkin’ Donuts, Regal Entertainment Group, Shake Shack, and Uber, have used Visa Commerce Network.”
Take a look at this YouTube video from Visa: “Our merchant partners have the need for tools and services to help drive growth. The Visa Commerce Network gives merchants a way to create new customer experiences that grow sales and build loyalty.”