Visa Commerce Network drives loyalty, merchant relationships
SAN FRANCISCO (2/8/16)--Visa Inc. has launched the Visa Commerce Network, a new way for merchants to create online and in-app commerce experiences to acquire new customers, drive loyalty and increase sales with relevant offers.
Visa Commerce Network is built on the VisaNet, Visa’s electronic payment network, and can be used by merchants through various commerce application programming interfaces (APIs).
Visa Commerce Network works by connecting transactions between two merchants. For example, a hotel can provide its customers with offers from local restaurants, and with cardholder consent, track engagement and issue rewards. Qualifying purchases are recognized at the point of sale, and rewards can be applied to cardholder accounts--eliminating the need for coupons or redemption programs.
To date, more than a dozen businesses, including Dunkin’ Donuts, Regal Entertainment Group, Shake Shack and Uber, have used Visa Commerce Network. In December, Boston-based Uber riders received discounted Uber rides when they used their Visa card at their local Shake Shack. Post-campaign results showed Shake Shack benefited from new customer acquisition rates in the double digits, and higher customer spending, while Uber riders saw the offer rewards seamlessly credited to their Visa cards.
Beyond the initial trial, Uber is now rolling out Visa Commerce Market to select users in 10 cities nationwide.