Visa launches real-time mobile discounts program
Payment and credit solutions giant Visa introduced a service delivering real-time discounts and promotions to opt-in consumers via SMS. According to Visa, the program serves mobile offers when consumers make qualifying transactions using their Visa accounts.
Apparel retailer Gap launched a pilot program trialing the solution late last year--consumers who enrolled received special offers when they made Visa transactions meeting certain pre-determined program criteria, e.g. shopping at a merchant within a specified zip code or category type, or making purchases on a specific day or during a specified time period. Customers redeemed those offers by presenting the resulting text message to Gap employees.
Visa explains the discounts program is one facet of a larger strategy to personalize the consumer shopping experience while helping merchants and financial institutions tailor their marketing initiatives. Visa adds it will make the new mobile discounts service available to retailers across the U.S.
In February, Visa acquired monetization platform provider PlaySpan for about $190 million, a move intended to accelerate its expansion into the digital and mobile commerce segments. PlaySpan's monetization-as-a-service platform enables merchants to sell digital media and mobile content leveraging a range of payment and commerce-related solutions as well as fraud and risk management, analytics, merchandizing and global payment connectivity tools.
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